Effective Controls, Processes, Procedures for Successful Project Delivery
Mega infrastructure is booming in Asia. From Hong Kong’s HK$200 billion hospital development and HK$32 billion Kai Tak Sports Park, to Singapore’s Changi Airport Terminal 5, Jurong Lake District and Tuas mega port, governments in Asia are embarking on programmes to boost housing, hospitals, roads, rail and ports. However, for successful project execution, companies need to establish a rigorous governance framework that ensures cost, schedule, performance and quality goals are achieved.
Do you know how to implement robust controls that are specifically designed to meet the demands of the capital project delivery process?
Can you develop effective contracting strategies to avoid project delays, quality issues and late discovery of major problems?
Are you able to establish a rigorous communication and reporting process to monitor project performance?
Join this 1-day practical workshop to adopt an effective governance approach that drives project success. Learn how to define project objectives and scope including determining a realistic cost and schedule estimate. Acquire a capital project procedural framework to establish effective controls for each phase of the project lifecycle. Examine how to develop effective contracting strategies and identify unique risks that the project presents. Find out how to implement a reporting framework to communicate project metrics to management, regulators and other stakeholders.
Benefits of Attending
- Understand the 5 defining characteristics of good project governance
- Learn how to define the need for the project, its technical components and commercial objectives
- Examine how to identify critical project risks and implement effective controls to manage them
- Analyse how to foster transparency in project performance and establish internal accountability
- Hear how to create an efficient project organisation with clear lines of responsibility and defined roles
- Develop policies and procedures to guide consistent performance across the organisation
- Gain insights into how to ensure a clear line of sight into project performance: cost, schedule, quality
- Implement systems for collecting project execution data and reporting key performance indicators
- Identify key considerations when developing contracting and project delivery strategies
- Evaluate how to establish, maintain and report defined performance metrics in contract terms
- Adopt data analytics to identify potential fraud from first engagement to completion of contract
- Determine how to establish a rigorous communication and reporting process
- Assess project performance through independent third party analysis
- Pick up best practices and common mistakes companies make in capital project governance
Zaheer Minhas is a Director with PwC Singapore’s Capital Projects & Infrastructure team. He is a Chartered Engineer (CEng) by training and has 18 years’ of experience advising on a range of engagements from feasibility, through to procurement and into construct and operations. Typical sectors involved include Transportation, Water, Stadia, Power, Healthcare and Precinct Development in the UK and Asia.
Zaheer holds a Bachelor of Electronic and Electrical Engineering from the University of Leeds and a MBA from the University of Chicago, Booth School of Business.
Prior to joining PwC, Zaheer worked at Land Transport Authority (LTA) on rail projects and was also an Engineering consultant for ERA Technology in the U.K. (now known as Edif ERA).
Who Should Attend
Senior Level Executives responsible for Internal Audit, Project Governance, Capital Planning, Project Management
Session 1: What constitutes effective governance of capital projects?
- Why is it important for companies to establish a sound governance framework when delivering capital projects?
- Understanding the 5 defining characteristics of good governance
- What are companies struggling with most in managing mega infrastructure projects?
Session 2: Defining project objectives and scope
- Defining the need for the project, its technical components and commercial objectives
- Determining a realistic cost and schedule estimate
- Defining the project scope in explicit terms
- Setting reasonable expectations
- Risk identification and management
- Common mistakes companies make during project planning
Session 3: Fostering transparency in project performance and establishing internal accountability
- Creating an efficient project organisation with clear lines of responsibility and defined roles
- Capital project procedural framework: Establishing controls for each phase of project lifecycle
- Developing policies and procedures to guide consistent performance across the organisation
- Ensuring a clear line of sight into project performance: Cost, schedule, quality
- Implementing systems for collecting project execution data and reporting key performance indicators
- Why is it so hard for companies to establish transparency? Common mistakes and pitfalls to avoid
Session 4: Crafting effective contracting strategies
- Key considerations when developing contracting and project delivery strategies
- Identifying unique risks that the project presents in areas including project design and technical challenges
- Benefits of incentive-based contracting
- Carefully articulating the contractor’s responsibilities to establish, maintain, and report defined performance metrics in the contract terms
- Specifying owner’s rights to access and audit underlying project information in the contract terms
- Using data analytics to identify potential fraud from first engagement to completion of contract
- Operationalising considerations i.e. O&M implementation
Session 5: Establishing rigorous communication and reporting process
- What causes rising project costs and delays?
- Defining performance metrics
- Assessing project performance through independent 3rd party analysis
- Establishing a reporting framework to communicate project metrics to management, regulators, and other stakeholders
- Effective reporting skills: Best practices and tips