Capital projects : what every executive needs to know to avoid costly mistakes and make major investments pay off / Paul Barshop.

Format:

Book

Author/Creator:

Barshop, Paul H., 1964- author.

Series:

THEi Wiley ebooks.

THEi Wiley ebooks

Language:

English

Subjects (All):

Capital investments.

Project management.

Physical Description:

1 online resource (227 p.)

Edition:

1st ed.

Place of Publication:

Hoboken, New Jersey : Wiley, 2016.

System Details:

Access using campus network via VPN at home (THEi Users Only).

Summary:

A real-world framework for driving capital project success Capital Projects provides an empirically-based framework for capital project strategy and implementation, based on the histories of over 20, 000 capital projects ranging from $50, 000 to $40 billion. Derived from the detailed, carefully normalized database at preeminent project consultancy IPA, this solid framework is applicable to all types of capital investment projects large and small, in any sector, including technology, life sciences, petroleum, consumer products, and more. Although grounded in empirical research and rigorous data analysis, this book is not an academic discussion or a conceptual dissertation; it's a practical, actionable, on-the-ground guide to making your project succeed. Clear discussion tackles the challenges that cause capital projects to fail or underperform, and lays out exactly what it takes to successfully manage a project using real-world methods that apply at any level. Businesses report that 60 percent of their projects fail to meet all business objectives, and IPA's database shows that projects' final average net present value undershoots initial estimates by 28 percent. This book provides concrete, actionable solutions to help you avoid the pitfalls and lead the way toward a more positive outcome. * Avoid the missteps that make capital projects fail * Learn the specific practices that drive project success * Understand what effective capital project management entails * Discover real-world best practices that generate more value from capital When capital projects fail, it is almost always preventable. Inefficiency, underestimated timelines, and unforeseen costs are the primary weights that drag a project down-and they are all avoidable with good management. Capital Projects gives you the insight and practical tools you need to drive a successful project.

Contents:

Capital Projects: What Every Executive Needs to Know to Avoid Costly Mistakes and Make Major Investments Pay Off; Contents; Acknowledgments; 1: Falling Short of Expectations: How Executives Struggle to Deliver the Value from Their Capital Projects; Background and Basis for the Book; Capital Projects Create Value; Most Projects Create Less Value Than Expected; Results Apply to All Types of Projects; Sources of Value Erosion Are Not Limited to Cost and Schedule Overruns; How to Deliver the Value Promised; Causes of Value Erosion Often Start Early

2: Why the Stage-Gate Process Is the Best Tool Executives Can Use to Get the Most Value from Their Capital ProjectsA Necessary Process; How Does the Process Work?; Assess: What Do We Want to Accomplish?; Select and Define: How Should We Accomplish It?; What Is the Role of Executives in the Process?; Different Kinds of Executives; Project Governance Structures; Stage-Gates and Executive Control; 3: The Project Frame: Understand the Opportunity before Starting a Project; Typical Contents of a Project Frame; Unlock Value by Finding a Better Option; How to Develop a Project Frame

Where Are We Now?Where Do We Want to Be?; Use the Frame for Executive Alignment and Endorsement; Develop the Target Condition; How Do We Get There?; 4: The Critical Project Sponsor Role; Who Is the Project Sponsor?; Overview of Project Sponsor Role; Assign a Project Sponsor as the Initial Business Case Is Developed; Requirements for a Strong Project Sponsor; Make the Project Sponsor Own the Business Case; Establish the Mandate for the Project Sponsor; Hold Project Sponsors Accountable at the Stage-Gates; Focus on the Project Sponsor Behaviors That Produce Robust Business Cases

Building a Strong Project Sponsor and Project Manager RelationshipChoosing the Right Project Sponsor; Seniority and Credibility; Knowledge of the Business and Its Operations; Interpersonal and Critical Thinking Skills; Understanding of Basic Project Management Concepts; Continuity; 5: The Single Most Important Thing an Executive Can Do to Make Any Capital Project Succeed: Define Clear Objectives; Business Objectives versus Project Objectives; Developing Clear Objectives; Developing Comprehensive Objectives; Confirm Alignment of Objectives with Business and Corporate Strategy

Surface Strategic Objectives EarlyCommunicating the Objectives; Communicate the Uncertainty in the Business Case to Get Better Project Objectives; Explain the Objectives Face-to-Face; Executives Have to Show Up and Participate; Prioritizing the Objectives; 6: The Executive's Role in Building and Supporting High-Performing Project Teams; Executive Leaders Lead; Invest in a Strong Owner Project Team; Why You Need a Functionally Integrated Team; Help the Project Manager Get the Resources for a Functionally Integrated Team; Do Not Outsource the Owner Team Role

More Experienced Project Teams Do Better Projects

Notes:

Includes index.

Description based on print version record.

ISBN:

9781119119234

1119119235

9781119119241

1119119243

9781119176718

1119176719

OCLC:

957525267