Large number of projects under execution and in early planning stage.
Insufficient project management competence available in the country
No disciplined system or approach pursued in most projects
Wrong metrics for measurements in planning and execution
Projects are often delayed, over-budget and compromised on scope.
Synopsis: Starting from any leading National Newspaper to News Channel to any website of importance, there is only one thing hitting the headlines‐ Impact of Economic downturn on rich and poor, shutting down of plants, companies retrenching the employees etc etc. It appears as if the world is going to shut down. The economies of the world are shrinking at an alarming pace. Has anybody wondered where all the money in the world has gone? Have you heard any news of any govt burning down its currency notes, any bank having not enough of cash? So what is really the problem?
My understanding of the problem is that there is lack of one thing in the world at present. This thing is the confidence of Investors and banks on the capacity of the businesses to generate more money. The inefficiencies of the companies and businesses have come to the surface. This will have its biggest impact on the futuristic capital intense projects such as refineries, big power plants, and infrastructure and expansion projects of varied nature. Earlier anybody can foray into any booming business of his choice by getting tons of money from the investors and banks. It is understandable that the new green field and brown field projects are providing jitteriness to the bankers and investors due to the history of these projects not completing on time, within budget and scope.