What if you had all the controls in place to bring in your project accident free, ahead of schedule and on budget?
Recent research reports show that 70% to 90% exceed original planned costs of between 50% to 100% of budget; this is a global issue and there are several opportunities to improve if key topics are addressed.
Delivery of capex projects is a complex undertaking.
The COVID crisis has introduced new complexities in the design, build and delivery of capital projects; increasing the risk of budget and schedule overruns. The consequence: negative financial impact on the company, local communities, partners and suppliers.
Based on our experience, project budget and schedule overruns can be managed and avoided. We know the key is to keep the work on schedule: minimizing cashflow and CAPEX risk.
To manage capital project risk, we look at three phases: from deciding which projects to fund, keeping a project on plan, and then guaranteeing the expected results and return on the investment.
Proudfoot CAPEX Risk Mitigation projects include:
“What the Proudfoot approach enabled in this amount of time was exactly what we needed to boost the local team”