There’s a massive need to renew US infrastructure. What forces are converging now to make it happen? Take 10Minutes for a quick overview of the factors and risks – like skills shortages, hidden costs, vulnerable supply chains and more -- and what goes into good management in today’s environment.
Dedicated public and private capital may be poised to set the wheels in motion. However, given the challenge of working within a fragmented national system, the project management issues associated with capital projects are increasingly complex for both public and private sector participants. A new focus exists on the operational risks inherent in capital projects, and investment in the risk management, information management, and governance systems necessary to provide the level of oversight required and ensures that resources are not wasted.
Key risks include: skills shortages, hidden costs, vulnerable supply chains, misaligned controls, obsolete contracts, and inadequate performance reporting or planning.
This edition of 10Minutes provides PwC's perspectives on how understanding and managing today's environment is particularly important for capital projects; and how control, accountability transparency and a good audit trail are needed for managing projects to avoid real or perceived waste.
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