It’s Time to Re-Engineer the Owner/Contractor Relationship on Capital Projects! – Jeannette Terry
Abstract:
Rationale: Over recent years, the costs for constructing capital projects have escalated significantly, while schedule predictability has diminished. In both the public and private sectors, there is a compelling need to contain costs, improve schedule and make project outcomes more predictable.
A wide range of technical factors come into play in planning for and managing a capital project from concept to full-time operations. For example:: 1.) Project shaping, 2.) Size and duration of the project, 3.) Degree of contact complexity, and 4.) Environmental challenges and compliance issues that will be encountered.
However, considerably less focus is put on the human capital resources – e.g. developing the leaders & teams that will be tasked with bringing in the project as planned and budgeted, safely. As a practitioner in the global capital project industry for many years, I’ve observed that project stakeholders frequently under-estimate the amount of resources (time and money) needed to design and develop their human capital resources to deliver reliable, value-adding performance throughout the project life-cycle. They also under-estimate the importance of ensuring that the owner/contractor teams are fully aligned, have established relationship trust, and are committed to communication transparency.
Workshop Focus: The Formula for Re-Engineering the the Owner/Contractor Relationship – IMPROVED ALIGNMENT, AUTHENTIC TRUST, AND INCREASED COMMUNICATION TRANSPARENCY.
Participants will learn:
* How owners and contractors can shift the focus from a Value-Shrinking to a Value-Expanding relationship
* Why senior leaders in the owner & contractor organizations must establish alignment at the relationship level,as well as the task level
* How trust – or lack of it – influences every aspect of project management and tangibly impacts project performance
* Six Ground Rules for communication transparency that reduce siloed thinking
and disconnected decision-making
*** The Project Team Trust Index (TM) will be introduced during the session. It measures four dimensions of team trust: Collaboration, Communication, Commitment, Competency.
PMI Talent Triangle: Leadership
