This covers how rigorous governance and risk management practices guide effective decision making on complex capital investment programs.
From building a viable business case, to securing financing in the tightest credit market in generations, to meeting aggressive development schedules that adhere to rigid budget limitations, organizations embarking on complex capital programs face daunting challenges. To overcome those challenges, it is more important than ever for project owners to establish a rigorous governance framework that guides effective decision making and lays the groundwork for achieving project success.
While organizations are often skilled in enterprise risk management and other processes that focus on their core business, the tools used to guide a bottom-line-focused enterprise do not easily transfer to managing deadline-driven, technically complex capital programs. In our experience advising on the planning and execution of capital projects across multiple industries, project owners who implement robust governance practices that are specifically designed to meet the demands of the capital project delivery process are the ones most likely to achieve their cost, schedule, and performance quality goals.