The 3 Most Common Capital Project Planning Problems, And How To Solve Them
- Velocity Quarterly | Olfa Hamdi
- Dec 14, 2018
- 1 min read
Article initially published at Velocity Quarterly
How to stop a reactive, fractured schedule and unclear accountabilities from sabotaging your project
Capital projects are complex and depending on your execution strategy you’ll encounter economic, social, religious and political issues. Intellectual property and technology concerns will also arise. These factors are well-known contributors to the risk profile of any capital project, and are routinely assessed as such.
However, there is one thing that is missing from this list: Planning. The linked article examines how the quality of planning is a critical risk factor that is almost always ignored in conventional risk assessments. It then explains how to mitigate this risk by transforming your planning and scheduling systems into a powerful tool that will support real-time decision-making and create predictability in the field.
What problems have you encountered in your capital project planning? How have you solved them?
Click on this link here to read the whole article.
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Identifying common challenges in capital project planning is essential for improving efficiency and minimizing risks. Addressing issues like cost overruns, scheduling delays, and resource constraints with proactive strategies ensures smoother execution and better project outcomes. Leveraging the right methodologies can significantly enhance project planning.