Power and Utilities Maturity Model and Architecture
Are you looking at reducing the risk of having an inadequate and incomplete set of policies and processes to effectively govern, manage and deliver a project to plan? Our Capital Projects Power and Utilities Maturity Model and Architecture (PUMMA) provides this opportunity to kick-start a project.
Infrastructure is in a period of high investment. Global power and utility organizations are forecast to spend >US$5t in the next 10 years to improve their infrastructure assets. Such significant investment is being driven by rapid population growth and increased urbanization, and the increased demand for resources such as water, food and energy that this creates.
Using PUMMA, Project Directors can help their business quickly identify the key capabilities needed through the life of the project, decide when these are required and determine whether they will be built in-house or bought as a service from trusted partners.
According to our research, mega projects typically have budget over runs of 35% with an average delay of two years. There are a number of factors which drive these overruns. These include:
- Misaligned decision-making
- Absence of key capabilities
- Lack of collaboration and integration
Typical methods to improve capital project performance look to iterate existing practices and standards. PUMMA can assist in looking ahead and identifying the core capabilities and how these could be delivered differently to achieve the value defined in the investment case.
Here are five key steps that can turn business insight into accelerated design:
Identifying investment case driversIdentifying the factors that will have a material impact on your ability to deliver the investment case and raising awareness of these across your organization
Determining the capabilities you needDetermining how you will set up the organization to deliver the investment case
Defining the capabilities to buildDeciding what you will keep in-house and where you will partner with other organizations
Enabling end-to-end integrationDetermining how to align your processes and systems across business functions to deliver the required level of performance
Empowering data-driven decisionsEstablishing how you will provide consistent and accurate information to enable better-informed decisions
The bottom line
With an increasingly competitive and constrained landscape, capital and infrastructure organizations need to be agile and in control from planning to delivery.
Identifying the people, processes, systems and information you need today, tomorrow and through the life of your project has never been more important to provide a “fast start” to reduce the time to achieve the final investment decision (FID) and long-term project delivery success.