Image: Provided by Hexagon The Objective: Financial Success Engineering and construction projects are tricky. They are often enormous – in both size and complexity. They don’t play nicely with fiscal years. They often hit executives with unwelcome surprises. And they have financial ramifications that can echo throughout an organization. For contractors, EPCs and service firms, margins are notoriously narrow. For project or asset owners, missteps with cost or schedule can dramatically impact the underlying business case for the project itself. The goal of virtually any project-driven company is to ensure profitability is not only sustained but also grows with time. The cash flow to support operations, debt and other financial concerns is critical, even in cases where profitability is not the end goal (i.e., the public sector). Financial success can only be achieved if the right decisions are made at the right time. But we’ve seen this to be difficult to do well and repeatedly over time. If only executives had a crystal ball to see into the future of their projects! They would know which projects to pursue and how they should direct their teams in executing them. This would certainly propel the organization in question to repeatable […]
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