Mega projects without adequate and robust project controls often fall victim to disruptions, culminating in massive financial setbacks. In 2014, the USD 10.5 billion Melaka Gateway reclamation project was announced that was to be completed in 2025.

However, a combination of factors and USD 17.2 million later led to the project was scrapped in 2018. Though the project has been revived, valuable time, resources and millions of dollars have gone to waste. The housing industry is another example, with over 655 projects with a GDV of USD 16.8 billion being delayed and abandoned. The delay has resulted in an 18% surge of cost for the developers. That’s a whopping USD 3 billion increase. Instilling effective project controls and planning right from the get-go is essential to ensure the survival & profitability of a project.
Investors rarely receive their planned return on investment (ROI) due these delays and resulting in billions in losses. No ROIs results in a lack of liquid cash to work on other projects thus causing a chain effect of delays. A China & Indonesia state consortium, funding Indonesia’s first $7.3 billion high-speed train was expected to start operations in August 2023. However, the project which expected to finish the first phase of the project in 2019 is now over 4 years late, USD 1.2 billion over budget and have accumulated outstanding payments of USD 381.75 million. This solidifies the potential catastrophe from improper project planning & controls.
Join us at Advanced Project Controls Forum where you’ll gain an understanding on the methods and techniques you require in delivering a successful outcome. Join us and tune into insights from industry experts on how they navigate through the intricate web of risk and challenges of project controls. In addition to the hefty penalties, project delays and cancellation results in a negative overview of the company’s reputation. Simply put, project controls & planning are key to ensuring if your company either prospers or goes bankrupt. If you’ve yet to ensure the proper project control processes are in place, now’s the time or be prepared to face the consequences.
WHY YOU CANNOT MISS THIS EVENT
• Uncover potential project problems early on by forecasting with advanced analytical techniques
• Maximizing project performance and output through coordinated control processes
• Prevent unnecessary expenditure of resources with capacity enhanced investigating strategies
• Drive savings with predictive analytic models
• Provide more transparent expectations and project delivery schedules with advance project control tools
www.congressconverge.com

Tweet