Capital Project Management Trends
Capital project management trends include increasing technical complexity and increased government regulation. This requires companies to be more vigilant than at any time in history. In this era of costly litigation and skyrocketing compensatory and punitive judgments, firms must be able to prove each team, supplier, and subcontractor has performed responsibly and consistently throughout execution.
Superior risk management is attained through standardized and controlled processes, which provide precise auditable results. Any authorized member of your team can use ProjecTools to access and report project information. Whether your project spans multiple countries or just one, is on land or offshore, uses dollars or euros, ProjecTools software gives you the tools to efficiently and successfully manage today’s complex project landscape to deliver superior quality, safety, and profitability.
Globalization is another capital project management trend that greatly affects the quality, schedule, and profitability of projects. Project managers are leveraging teams spread across the globe because they are great in terms of diversity of experience, problem solving and initial cost estimate. These project managers are finding a major gap in the strategy, however. The gap arises from the fact that globalization of teams, professionals, and supply chain has outpaced the tools that integrate these teams. This is making way for costly situations where engineers are working on the wrong things, suppliers are working from superseded revisions, and progress and status reporting is left to the individual units. These are what we call siloes. The result of these siloes is confusion that creates rework, duplicated effort, delays, overruns, change orders, and other profitability killers.
ProjecTools software is the only capital project management software in the AEC/PPM market that was built to specifically address complexity, risk management, and globalization challenges. The system does so by integrating all project information and teams into a single system to eliminate the siloes, confusion, and disorganization that hurts project performance.
Leverage ProjecTools industry expertise to buck the capital project management trends and mitigate risk to stop losing profit to avoidable project management challenges.
Request a personal demo of ProjecTools – the most reliable, efficient project management tool that understands capital project management trends.
