A new study on “Drivers for Success in Infrastructure Projects 2010” by professional services firm KPMG and PMI, a professional membership organisation for project managers, has revealed that over 40 per cent of the 1,053 infrastructure projects completed over the last 17 years witnessed budget over-runs, while 82 per cent of them witnessed schedule over-runs.
It found out that cost-effective project designs emerged as one of the most efficient tools to control project costs and progress reports were identified as most frequently used tool for project monitoring.
A major aspect, which came out in the study, was the concept of a project management office (PMO) as an independent monitoring agency. The study says that 85 per cent of all ongoing projects running within budgets have a PMO.
Also, factors like environment, health and safety could become differentiators and organisations embracing the sustainable development upfront could stand to benefit in the long run. More than 100 management personnel from leading infrastructure sectors were surveyed.