Improving Capital Project Planning and Execution
ScottMadden has worked with a number of utilities to improve their capital project planning processes. Contact us to learn how we can help transform your project management capabilities.
At a Glance
Prioritizing Projects
Client team now utilizes an agreed-upon methodology to score and prioritize projects based on objective criteria
Formalized Stage-Gate Process
The formalized stage-gating process instills capital project planning with increased levels of approval and control
Project Management and Estimation
These efforts developed a framework that significantly improves the client’s ability to effectively estimate and manage capital projects
Challenge
A small, privately held transmission and distribution utility located in the Northeast sought to improve its capital project planning and project management capabilities. ScottMadden was engaged to assess the client’s current performance in capital project planning, benchmark the company against leading practices, and refine the strategic initiatives related to capital project planning.
Process
- Identified existing issues with current processes, prioritized key areas of concern, and recommended strategic initiatives to address problem areas
- Examined the current capital project planning processes by interviewing the client’s staff and reviewing existing documentation, procedures, and key performance indicators
- Performed a leading practices assessment by interviewing select organizations, highlighting important trends, and delivering a blinded copy of benchmark findings to the client
- Reprioritized the client’s list of strategic initiatives based on current state and benchmarking assessments and developed implementation plans for each initiative
- Worked with client leadership and end users to develop formal procedures and criteria for key capital project planning processes, including stage-gating, project prioritization, cost estimation, project management, and client engagement
Result
- Provided the client with the ability to improve estimates, gain tighter controls on capital expenditures, and develop better forward-looking plans and budgets
- Developed an agreed-upon methodology the client can utilize to score and prioritize projects based on objective criteria
- Allowed for increased levels of approval and control through the formalized stage-gating process
- Created a framework that significantly improves the client’s ability to effectively estimate and manage capital projects
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Let’s Work Together
We don’t solve problems with canned methodologies. We help you solve the right problem in the right way. Our experience ensures that the solution works for you.