Project Assurance needs a serious overhaul – and a unified view of risk and opportunity
Traditionally, capital projects and infrastructure has relied on predictable, engineering-driven, and often labor-intensive methods to delivery major projects. But the industry is changing fast.
A wide array of disruptive, breakthrough technologies – such as drones, 3D printing, augmented reality, and more – are rapidly transforming the way infrastructure is built and operated, and bringing major implications for the entire delivery process.
“The truth is 97.5% of projects fail to be delivered on time, on budget or to their original specification, according to a recent PwC survey.”
Capital projects and mega projects are inherently complex - and prone to failure. While technology may be radically changing some aspects of the capital project and infrastructure industry, old problems still remain.
In our experience, most projects run into delivery problems for reasons that are remarkably consistent and predictable: poor cost estimating and cost forecasting, a lack of clear scope definition, inexperience in managing large construction projects, unclear contract terms, and a failure to implement appropriate integrated governance.
Fortunately, the factors that help ensure project success are also well-established by now. At PwC, we call it the Process Excellence Framework - a set of six capabilities that work together in a holistic way and coordinated way to deliver project success.
To ensure successful project delivery, we assist clients with Project Assurance, Project Excellence, Strategic PMO, and Technology.
In addition, our team of 1,000 engineering, business, finance, and government experts, can offer you full coverage support extending over the entire project lifecycle - from strategy to finance to delivery, and even disposal of the asset.
As the applications for unmanned aerial systems -- or drones-- rapidly expand in the commercial and consumer markets, PwC’s Chris Hewlett discusses the critical safety, regulatory, and use-case issues facing widespread adoption of the technology.
Find out how PwC can help your capital project to happen successfully.
Six technologies transforming how infrastructure is built and operated.