One study of the performance of mega projects over the past decade in the oil and gas industry reveals a 78 percent rate of failure. Large projects in the process industries have much poorer outcomes. More megaprojects than ever are being developed and each one brings its own complexity.
- Projects close to the margin must be dropped
- Resource constraints must be part of the project selection process
The disadvantages to these very large projects are huge, but of course, so are the rewards. Therefore these projects must be scrutinized and evaluated very carefully. Need to make an accurate risk/reward determination for each “mega project” in your portfolio? Learn how one petroleum pipeline organization did it with Portfolio Simulation.
Check out Portfolio Scheduler:
Project/Portfolio Risk Evaluation:
It sure will! For more information about PMI Houston, click on the link below:
It will be interesting to hear what the latest is on Portfolio Planning from the attendees at the PMI Houston Annual Meeting this week.