Study supported by Ministry of Statistics and Programme Implementation (MoSPI)
Mumbai: Project Management Institute (PMI) and KPMG, India in consultation with Ministry of Statistics and Programme Implementation (MOSPI) today jointly released the study titled “Revamping Project Management: Assessment of infrastructure projects and corrective recommendations for infrastructure projects” at Vigyan Bhawan, New Delhi. Honorable Minister, Rao Inderjit Singh, Minister of State (Independent Charge) Statistics and Programme Implementation (MoSPI) and Honorable Secretary – MoSPI and Chief Statistician of India, Shri. Pravin Srivastava officially released the study on the occasion of 13th Statistic Day being celebrated by MoSPI on 29th June.
Managing complex infrastructure projects has always been a challenge, especially since infrastructure projects are long-term, involve multiple stakeholders, bring in new technologies, and constrained resources. Accordingly, PMI and KPMG in consultation with MoSPI conducted a study on “Revamping Project Management – Assessment of infrastructure projects and corrective recommendations for performance improvement,” which is a continuation of the earlier study done in 2012. The objective of this study is to bring out the core issues in implementing large infrastructure initiatives of the Government and providing corrective recommendations for strengthening project and program management capabilities along with an analysis on the potential for job creation.
Commenting on the report Mr. Murat Bicak, Chief Strategy & Growth Officer, Project Management Institute said, ‘’We at Project Management Institute (PMI) strongly believe that project management processes help to bridge the chasm between high-level strategic vision and successful outcomes. As per the study, the implementation status of most projects points out the gaps in the application of project management practices. Therefore, systematic adoption of this discipline and implementation of project management techniques are crucial for a country like India, especially to continue on its high-growth trajectory in the coming years. It also significantly contributes to creating a culture of performance.”
Commenting on the report, Shri. Pravin Srivastava, Secretary & Chief Statistician of India, MoSPI (Ministry of Statistics and Programme Implementation) Secretary said, ‘’Creation of infrastructure assets play a vital role in the development of the economy. The Government of India has been implementing various initiatives to encourage the growth of the sector, such as e-Suvidha and, IIG (India investment grid). I am sure this report will prove to be useful for the policy makers to promote successful implementation of the projects within the scheduled time and costs.’’
‘’As a nation and as active stakeholders, we need to overcome what has slowed us down in the past. This report aims to provide both, a reflection on what is not working but more importantly what can be done to help debottleneck infrastructure creation in India,” said Mr. Puneet Narang, Partner, Major Project Advisory Infrastructure, Government and Healthcare, KPMG India during the launch of the report.
Infrastructure sector in India is experiencing a significant growth wave, and it is imperative that the required improvements do not create hindrances in project progress. Approximately INR 50 lakh crore of investment is required over the next four to five years (2018-22). Given this backdrop, it is crucial to focus on the core industry issues and the opportunity that lies therein, because the road to growth cannot happen without putting in place the infrastructure backbone, which then has a multiplier effect on the economy and the nation. While a few recommendations in this study are low hanging opportunities for improvement, others require a transformational perspective. On the whole, the study recommendations can lead to improved project management capabilities. The recommendations address causes that contribute to above 60% of time overruns and above 70% of cost overruns.
These recommendations will be useful for policymakers, Public Sector Enterprises, engineering and contracting firms in the country that are implementing these programs and projects to promote successful implementation of projects within scheduled time and cost.
Almost all the major world economies are now increasingly relying on project and program management skills to improve the impact of government programs through a focused, results-oriented approach. Project management, with a view to delivering projects on time and within budget, is a learnable capability that can be institutionalized, as demonstrated by the development experiences of USA, UK, UAE, and China.
This trend is equally, if not more, relevant for India, more so in the current context of raised expectations from the present Government. As India gears up and prepares for a stronger and resilient economy, project management will be the critical enabler.
Your email address will not be published. Required fields are marked *
Save my name, email, and website in this browser for the next time I comment.
Sign me up for the newsletter!
Notify me of follow-up comments by email.
Notify me of new posts by email.
Della Group is Building sustainable development of Lonavala
All Suites Brands by Hilton Third-Quarter Growth Fueled by Innovative Design
Bata strides positively through the economic slowdown
Possible to reduce Delhi PM 2.5 winter level by 46%, tackle both peak and non-peak pollution sources: TERI
Jaipur Literature Festival announces impressive second tranche of speakers
2014 The Global Indian New Network (TGINN)