Exploring the Challenges of Capital Projects Question Title * 1. What commonalities exist in your most successful large capital projects? Clearly defined scope Clearly defined processes No functional silos Good working relationship with contractors Managed contract change Effective decision making via availability of necessary information Early warning of potential contract risk Other (please specify) Question Title * 2. What weaknesses have you identified in your least successful large capital projects? Escalating contract issues which are not addressed when they first appear Lack of quality or experience in project partner personnel Differing contractual interpretation and expectation between you and the contractor Inadequately prepared contract documents leaving the door open to interpretation and disputes Confusion regarding formal instructions to the contractor Dispersed information across multiple tools with an over-reliance on familiar desktop-based applications Lack of effective decision making due to no centralised contractual information Lack of process discipline leading to claims Other (please specify) Question Title * 3. Please select the top THREE critical applications that you think make large capital projects: Estimating Scheduling Cost management Contract management Collaboration platform Robust change management process and application Other (please specify) Question Title * 4. What are the top THREE reasons for budget overruns? (Select three only) Poorly defined communication with supplier(s) Lack of available commercial information with regard to the state of the contract Lack of consistent information across org decision teams Untracked scope changes due to new instructions from contract buyer Lack of best practice governance in managing contracts Lack of effective change control Contract claims Other (please specify) Question Title * 5. In the last two years, how many times have projects you’ve been involved in experienced budget overruns of over 10%? Fewer than 3 times Between 3-5 times More than 5 times Never Question Title * 6. What is your strategy to ensure that you mitigate such budget overruns for future large capital projects? Lessons learned from previous projects Improve large capital project scoping definition Codify the contractual processes and procedures Other (please specify) Question Title * 7. Many companies mitigate capital leakage by having a clearly defined Application for Payment (AFP) process to approve the work delivered before the invoice submission. This enables the Contracts team to ensure that the work delivered matches the amount on the AFP. Do you follow a similar process? Yes No Next