Seven Fundamentals for a Successful Project

Studies demonstrate that there is as greater chance Capex Projects fail to deliver on their key objectives than deliver their key objectives. We believe the odds can be improved by following seven fundamental rules.

We believe failure to deliver on a Capex Project can be traced back to a failure to comply with one of the below rules.

A Clearly Communicated Vision with SMART Objectives

Identify the key stakeholders and have a clear agreement on their expectations on budget, programme and desired outcomes, setting out the potential impact of the project on live operations and the environment.

Having a clear management and decision making structure is vital so rolls in the Project are clear and understood by all.

The objective need to be SMART. Specific, Measurable, Achievable, Realistic, Time scaled.

Appropriate Documentation & Project Tracking Tools

Getting the balance of technical and commercial documentation right and establishing appropriate levels of project tracking and control tools is vital.

Overburdening the Project with unnecessary documentations and project controls can initially provide a veneer of control. However, over complicating the project control processes can results is a loss of focus on the outcomes and very quickly end up being counter productive.

Projects that do not have clear documents and project controls, setting out what is to be delivered and how it needs to be delivered , risk imprecise communications between stakeholder and increase the risk of project running out of control.

Experienced Project Management

Project managers have great responsibility. These professionals need to have matching education and experience to manage the project.

Knowledge of policies and procedures is vital, as is the management of inputs and outputs of varying internal and external stakeholders projects is important.

However, the one important aspect that is often overlooked is Project Manager's experience in delivering successful projects with the technologies and processes in question.

Inexperienced project managers are among the primary causes of project failure 20% of the time, according to the PMI’s 2017 Pulse of the Profession report..

A focus on Stage Gates, Programme, Cost to Complete & Risk Register.

Confidence in a project can quickly erode if the Project Manager is asking for additional monies, resources and time.

Having 'live' project control tools are vital to Plan, Act, Do Check, to kept the project on course.

Achieving design freeze for the project is the first key milestone in the execution phases, and wherever possible be completed before procurement and build phases of the project commence.

Key tools for projects with process technologies at the heart of the project are:-

Stage gated records, detailing and recording how project moves through it 8 stages.
Based Lines Programme with Narrative.
Cost to Complete Forecasts
Risk Register.

Avoid Project Creep Wherever Possible.

Project creep is a phenomenon we have all experienced in our career. Its impact on projects should never be underestimated. Small changes can lead to significant implication to the project.

Changes to the project objectives, should be avoided at all costs. And if necessary, the impact on time, budget and resource must be properly reviewed and communicated to all stakeholders to sign off on.

Handover from Projects to Operations is Vital

Ensuring the operational teams have sufficient training, expertise, resources and information to operate and maintain the new products, processes and technologies, safely, effectively and efficiently is often overlooked in the planning and execution of capex projects.

ORAT (Operational Readiness, Activation and Transition) is an acknowledged standard in the Aviation industry. This industry has experienced many examples of operation teams taking over commissioned systems handed over from Projects and failing. These failing are often in the public eye and whilst this may not be the case for most organisations, the value of a seamless handover from projects to operations should not be underestimated whatever industry you are working in.

Appropriate Action on Warning Signals

When a project is on the verge of failing, it does not do so without providing warning signs.

Key Indications that indicate a project is under stress include:-

Design delays and Cost overruns
Defensive behaviours by Contractors
Scope Creep
Changing Project Priorities
Reducing time for tasks later in project to maintain completion date.

Failing to act appropriately when warning signs occur will likely make the issues more complex and expensive to solve at a later date.