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Exploring the Challenges of Capital Projects
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1.
What commonalities exist in your most successful large capital projects?
(Required.)
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)
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2.
What weaknesses have you identified in your least successful large capital projects?
(Required.)
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)
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3.
Please select the top
THREE
critical applications that you think make large capital projects:
(Required.)
Estimating
Scheduling
Cost management
Contract management
Collaboration platform
Robust change management process and application
Other (please specify)
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4.
What are the top THREE reasons for budget overruns? (Select three only)
(Required.)
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)
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5.
In the last two years, how many times have projects you’ve been involved in experienced budget overruns of over 10%?
(Required.)
Fewer than 3 times
Between 3-5 times
More than 5 times
Never
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6.
What is your strategy to ensure that you mitigate such budget overruns for future large capital projects?
(Required.)
Lessons learned from previous projects
Improve large capital project scoping definition
Codify the contractual processes and procedures
Other (please specify)
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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?
(Required.)
Yes
No