Capital project management

Capital project management
Capital projects are more
closely scrutinized today than
ever before. Deadline-driven
and technically complex, they
require a knowledge skillset not easily transferrable
from an organization’s other
core competencies.
Even if the primary responsibility
for project delivery is delegated
to a third party, management
should still maintain visibility
into and control over all elements
of performance. Project sponsors
and managers should periodically
and independently confirm the
progress and health of the project.
To rein in costs and chart a path
to success, companies must
employ sound methodologies
that guide decision making from
project start to finish.
PwC can help your organization plan,
manage and deliver large scale capital
projects and programs. Our project
management capabilities can provide
you with comprehensive strategies and
implementation solutions from initial
business case development and project
initiation through final close-out and
transition to operations.
The evaluation process
We will work with you to tailor an approach targeted to where you feel help
is needed most. Specific assistance may
include:
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Contractor selection
Cost and schedule modelling
Supply chain management
Project Management Office
(PMO) implementation
Issue. Some of the primary contributors to capital project challenges
include:
• Clear project definition. Welldefined projects can result in an
optimal end product, potentially
avoiding contract disputes.
• Adequate estimates. Accurate
and complete estimates, including
estimates with appropriate contingency, can lead to adequate funding
and the minimization or elimination of unnecessary changes to
the project.
• Transparent controls. An efficient
or well-conceived governance and
controls structure can result in
improved visibility toward developing issues throughout project
delivery, enabling the identification
and correction of evolving project
challenges.
• Internal accountability. A well-defined organizational structure may
result in the elimination of roles
and responsibilities gaps involving
critical management functions.
• Contracting and project delivery
strategies. Owners often place
too little emphasis on devising a
delivery strategy that is consistent
with the project’s unique needs and
on crafting a contract framework
that effectively allocates risk during
performance.
• Communication and reporting. The incorporation of defined
performance metrics, and adequate
communication between all stakeholders can assist in the timely identification and mitigation of risks to
project success.
Action. PwC can help you create a
roadmap for achieving project or program success. Specifically, we support
enhancing the following activities:
• Evaluating current project or
program status. PwC has developed
a Procedural Framework that defines
typical capital project elements
across the project life cycle. The focal
points for a review of these elements
are organization, procurement
and contract management, scope
management and change control,
cost management, schedule management, business systems and technology, risk and issue management, and
communication and reporting.
• Reviewing project information
and technology systems. We can
determine whether your information
systems can deliver the data you need
with the right amount of detail, control, and level of integration to manage your capital project or program.
• Incorporating leading industry
practices. Our multi-disciplinary
teams combine a global industry
scope with local knowledge of issues and regulations. We leverage
these strengths to share the latest
research and points of view on
emerging industry trends, develop
industry specific performance
benchmarks, evaluate transactions
and related strategy, and share
methodologies and approaches in
complex areas.
• Developing policies, procedures
and tools. If any controls, information systems, or methodologies are
found to be deficient or lacking, we
can help you develop those tools to
enable a more efficient execution
organization utilizing our cross
industry knowledge and experience
with capital projects.
Impact. Benefits of using PwC’s capital
project management solution may
include the following:
• A clear, organized, and consistent approach to project or
program implementation
• A reduction of turnaround costs
or marked improvement in
turnaround projects
• Enhancements to schedule compliance and cost reductions
• Development of processes into a
prudent, transparent, and auditable
record of management’s actions
and decisions
• Establishment of a robust reporting framework for communicating
project or program status to management and regulators
The pressures of completing projects within tight
parameters will only grow in importance. By
dedicating the proper level of resources, planning
and collaboration, our clients have an improved
chance of producing the long-term value from their
capital expenditures that had been envisioned when
the project was conceived.
PwC offers a number of other key project solutions for consideration:
• Capital Planning and Portfolio
Management/ Optimization
• Capital Project Governance and
Controls
• Capital Project Regulatory Support
• Capital Project Technology
• Capital Project Infrastructure Deals
• Construction Project Audits
• Real Estate Advisory
• Tax Diligence and Structuring
• Troubled Project Turnaround
and Forensics
Contact us to discuss the complexities
of your project and co-develop a custom
approach for your organization.
Contacts
Peter Raymond
Capital Projects & Infrastructure
US Leader
McLean, Virginia
+1 703 918 1580
[email protected]
Daryl Walcroft
Capital Projects & Infrastructure
San Francisco, California
+1 415 498 6512
[email protected]
Stephen Lechner
Capital Projects & Infrastructure
San Francisco, California
+1 415 498 6596
[email protected]
Ralph Roam
Capital Projects & Infrastructure
Philadelphia, Pennsylvania
+1 267 330 2241
[email protected]
Anthony Caletka
Capital Projects & Infrastructure
Houston, Texas
+1 713 356 5871
[email protected]
Combining engineering, project controls, and business acumen PwC's
capital projects and infrastructure professionals serve the entire life cycle of
acquiring, financing, investing in, planning, designing, procuring, constructing/implementing, commissioning, operating and maintaining complex
greenfield or brownfield capital assets, programs or portfolios. Our professionals have industry experience as project managers, designers, engineers
(civil, environmental, structural, mechanical, electrical, industrial, and
nuclear), construction managers, critical path method (CPM) schedulers,
cost analysts, construction attorneys and accountants.
www.pwc.com/us/capitalprojects
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©2013 PricewaterhouseCoopers LLP, a Delaware limited liability partnership. All rights reserved. PwC refers to the US member firm, and may sometimes refer to the PwC network. Each member
firm is a separate legal entity. Please see www.pwc.com/structure for further details. This content is for general information purposes only, and should not be used as a substitute for consultation
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