Projects of all sizes, small-medium-mega-giga-tera, play an important role in creating strategic asset for the nations and organizations. As projects continue to grow in numbers, sizes and complexity, owners and contractors who wish to see long-term success must embrace more collaborative approaches, sound project management practices, employ digital tools for effective management and define clear road maps for recovering distressed projects and assets.
Overruns, both time and cost, pose huge risk to the projects viability and intended outcomes. Studies indicate that while some projects are impacted due to external factors which are beyond the control of the implementing agencies such as land acquisition, regulatory approvals, etc., majority of projects are delayed by factors which can be controlled at the project level through proper planning and project management. Skill Shortage, both blue and white collared, is the “single most concern” for many of the developing economy as majority of the workforce is un-employable. Substandard project management is basically a result of shortage in acquisition of talent who are conversant with the latest technology tools and applications for project management.
The intended outcome of the conference is to understand the global best practices through experienced leaders, chalk out a road map with representation from Government, like-minded professional bodies, private companies, academia and professional organizations like AACE International, RICS, etc. Benchmarking international best practices in Cost Management and Project Controls, shortfalls in current practices in developing and developed economies, required support mechanisms and collaboration with various bodies to address the gaps shall be the fulcrum of discussion, so that it benefits public and private projects.