Advancing Lean Construction and Innovation in the AECO industry | Magician ????? | Contech Advisor | Target Value Delivery
The Core Reason Your Capital Projects Take Longer to Deliver (Even When They Finish on Time) by Tom Richert. Why Speed Matters There are a few primary benefits and a host of secondary benefits to completing a capital project quickly. Here are important primary benefits. 1?? Time to revenue is reduced and your investment is serving the people it is designed to help. 2?? Carrying costs during construction are reduced, including the cost of dormant capital and the cost of managing an ongoing project. 3?? The window of opportunity for outside events to disrupt the project is significantly narrowed. Why Projects Take Longer - The Planning Approach is Flawed There is a practice of carefully crafting detailed schedules that identify all important tasks required to complete the project. The tasks on these schedules number into the thousands and are arranged according to the logic in which they ideally will be implemented. The tasks are interconnected and together form a tapestry through which the critical path of activities is identified. It is presumed that a heightened focus on managing the work on the critical path results in the best possible outcome. These schedules require a great deal of talent to prepare and include such details as the date of a framing inspection on a specific floor, three years into the future. Even though few people believe the schedule portrays the work accurately as the project progresses, the network of activities is relied upon as a map for completing the project. Many capital project owners and builders, subscribe to the approach of building detailed schedules at the onset of the project, institutionalizing a process many recognize as flawed. https://lnkd.in/gYQKtpPF #leanconstruction