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The Pay for Success (PFS) approach provides a compelling “try before you buy” platform for conducting a new product or service analysis. Is there a way to “experience” the needs and challenges of engaging in a PFS initiative, and to “visualize” the potential benefits of the offering, without a large commitment of resources to such an up-front effort?
Delays in engineering, procurement and construction projects almost feel inevitable. However, they can be avoided if we understand and identify their causes before the start of the project—and try to mitigate the gaps during the project lifecycle.
Coordination plays an important role in both project and supply chain management, especially in regard to complicated engineering, procurement, construction and commissioning (EPCC) projects. Analysis of supply chain management for a floating production storage and offloading unit (FPSO) building illustrates the differences between traditional-industry and complicated EPCC projects.
In his first article, the author examined design and preconstruction in tier 1 construction projects (over US$ 100 million). This entry in the series explains the contracts and contractor requirements for planning. The project management plan consists of multiple parts requiring contractor submittal and owner approval. The elements of the plan are described along with instructive stories and lessons learned.
Negotiating prices during procurement does not only depend on the purchaser's soft skills or negotiation techniques; technical skills also have a role. In this article, the author shares technical ideas and advice that may lead to cost reductions or price discounts.
Winning contracts is a team effort. An organization must practice transparency so that project managers have enough information to understand the wider picture to focus their projects on creating business value.
When evaluating the acquisition of a company, many organizations emphasize the financial aspects but downplay facets of the consolidation dealing with project execution. This paper examines the major considerations and discusses how to improve the integration process to avoid negative impact.
Did you ever have to call a project team back because the project was delivered and support was not set up? Not setting up support can give a good project a bad name. Throughout the phases of a project, support should be defined, planned, and set up. Be well prepared by asking the basic questions outlined in this article.
Vendor management is a key activity in any project but literature often overlooks the vendor’s point of view. While there can’t be a “one-solution-fits-all” strategy to the challenging activities involved in making your pitch, the author, working with an IT service provider, shares his recipe for winning the client.
Long-term, fixed-bid contracting is a challenge in the agile world. The objective of this article is to review these challenges and derive a possible solution for contracting between outsourcing companies and client companies for agile projects.
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"Do not worry about your difficulties in Mathematics. I can assure you mine are still greater." - Albert Einstein |
