Capital project delivery outcomes continue to be poor, despite a proliferation of newer project management tools and methods intended to improve the situation.
Examining the history of conventional project management reveals that the many substantial efforts undertaken to improve project management practices fail to address two fundamental gaps.
This article from Volume 1 of the Project Production Institute Journal will explain what these gaps and review the technical framework for the NEXT practice in project execution and delivery.
In this article, readers can expect to learn how:
- The evolution of project management can be viewed as three distinct Eras
- The first two Eras do not sufficiently account for the impact of variability and inventory, nor does it give project teams the means to control the execution of detailed project work activities in response to the day-to-day variability affecting project execution
- Era 3 – Project as Production System addresses these gaps via an Operations Science framework to optimize cost, time and scope via the levers of process design, capacity, inventory and variability.
Read the full article here.
Project Production Institute researches and disseminates knowledge related to the application of operations science for the optimization of complex and critical energy, industrial and civil infrastructure projects.