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Strategic Planning

The size, complexity and risk of “mega-projects” require a completely different approach to planning and project management, one that recognizes their strategic risks and interface complexities.  Effective governance may require that the project be managed as a program of individual projects, yet, at the same time, economies of scale can be achieved with strong leadership at the program level.

This is Strategic Program Management, and it begins with the Strategic Program Plan.

A very large project is really an inter-related group of projects (each of which is often quite large itself), and requires planning at both the program and project levels.  Since the number of interfaces increases exponentially with the size of the project, interface management becomes critical.  And, many times the project’s size actually shapes the market conditions under which it will be executed.

Westney’s approach to the Strategic Planning of mega-projects has been proven on some of the world’s largest projects (e.g., the Alaska Gas Pipeline).  Based on a full understanding of risks, it provides the opportunities for synergies and mitigates the exposure from organizational risks.

Project portfolios also require a strategy and benefit from a program approach that looks across the portfolio.  For example, overheated market conditions may indicate a contract strategy that spans multiple projects and creates greater leverage in the marketplace.  The result is reduced CAPEX VaR™ and improved performance.

Since the source of many project risks is the international marketplace for capital project goods and services, the procurement and contracting strategy often requires a special focus.  Very large projects often disrupt the market, placing even greater importance on the correct strategy.  Westney’s approach brings to bear the company’s knowledge of market conditions and trends, together with a proven process for achieving economies of scale.

A strong and effective owner organization is essential for effective governance.  For example, the number of interfaces to be managed increases exponentially with project size, making interface management a critical and demanding owner competency.  Westney’s experience in assisting owner organizations in defining and implementing critical competencies helps ensure effective program and project management organizations.