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(RISK-1408) Project Development and Strategies for Success

Primary Author: Mr Lawrence A Bastianelli CCE
Co-author(s): Mr Terry Yeager; Mr Bradley D. Wolf PE; Mr Richard D. Fultineer

Audience Focus: Basic
Application Type: Application
Venue: 2013 AACE International Annual Meeting, Washington, DC, USA

Abstract: This paper details a project delivery system that provides key strategic information for go/no-go decision gates that effectively manage the risk-to-reward relationship during project development. The first three phases of the delivery system are collectively known as front-end loading and are devoted to project development. The paper explores critical project execution strategies to mitigate risks and maintain alignment of business and project objectives. Businesses have to make important and timely decisions regarding capital investments needed to sustain a position in the market or to exploit new business opportunities. We also discuss using third-party facilitators in augmenting the owner’s project management team as a valuable component of a well-rounded implementation process. To demonstrate the success of the concept, we provide two case studies in which experts worked with industry owners to incorporate successful strategies and project controls for critical plant investment projects.