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Capital Program Readiness Assessment: Know Before It's Too Late
BY Noe Saenz
Utility, industrial and infrastructure owners often lack the systems, processes and/or staffing for large-scale capital improvement projects and/or programs. A program readiness assessment evaluates capabilities and creates an actionable road map for improvement.
As utility and infrastructure owners undertake unprecedented capital improvement initiatives, they often rely on their project management office and key parts of their organization to effectively orchestrate delivery. The reality is that, frequently, owners are not ready. They might need assistance to deliver new or larger than normal construction portfolios or mega projects.
It is not uncommon for these organizations to lack the people, processes and tools to fully execute projects. Or simply not have the desire, or need, to make such a substantial permanent internal investment to execute the work. To develop realistic capital investment plans that deliver successful results, senior leaders must understand their organizationwide capabilities based on fact‐based findings, real-world experience and lessons learned from executed projects.
A program readiness assessment (PRA) is a simple but powerful four-step, interview-based process that provides the foundational basis for evaluation of a current or upcoming portfolio of projects.
PRA reviews the owner’s existing documentation, systems, processes, procedures and resource/staff capability to produce qualitative and quantitative feedback. These inputs help reveal the organization’s strengths and opportunities, as well as define the current state of how the organization plans to execute projects and programs and provides the basis for an actionable future state implementation road map.
Assessment Areas
- Portfolio/project governance
- Organizational structure
- Stakeholder management
- Project/front-end development
- Cost estimating
- Contracting strategy
- Risk management
- Project IT systems
- Project management
- Engineering management
- Procurement management
- Construction management/safety
- Project controls for cost and schedule
- Change management
- Document control
- Commissioning and startup
Key Benefits
- Delivers an unbiased, fact-based evaluation of organizational capabilities with practical recommendations drawn from completed field projects and lessons learned.
- Confirms what’s working related to organization, processes, systems and more, and how to optimally promote and replicate across the company to bridge silos.
- Provides the basis for an organization’s actionable implementation road map to improve maturity and readiness in key areas to support the transition from operations management to a capital project and/or program execution methodology.
Our conclusions and recommendations are backed by an extensive construction portfolio and program management experience as well as industry-leading best practices as defined by the Project Management Institute (PMI), the Construction Industry Institute (CII) and the Association for the Advancement of Cost Engineering (AACE).
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