By: Swathi Ilango --
30 December, 2014
C ontractors dealing with turnkey (end to end) projects which involve engineering, procurement and site construction (EPC) operate in a highly uncertain environment. The uncertainties combined with difficulties of incomplete inputs and repeated priority change, in an environment where resources are shared leads to frequent delays. These delays create pressure and keep adding up till the last phase of the project. It has become a practice where most organizations leave behind a ?tail? after completion of a project. Resources and money is locked up in many such ?tail? projects. This problem and overall project performance have remained the same. This is because no solution addresses the key challenge ?How to manage resources and projects DESPITE the environment of high uncertainties."