How to save your bosses £200m
How to save your bosses £200m
We often hear about major project disasters, bad project management, projects that have run over schedule or budget, or worse, both. However it's always nice to talk about a project's success, like the construction of the Queensferry crossing, a bridge over an estuary, linking Fife and Edinburgh in Scotland, which is expected to be completed by the end of 2016 and is expected to be £200 million under budget. Yes you did read that right, under budget. The construction of the Queensferry crossing is on target, under budget, future proof and plans have satisfied many stakeholders.
Okay so maybe your project management background and ambitions aren't related to large scale construction projects, but there are still huge lessons to be learned from construction projects, and in particular the Queensferry crossing project. The success of the project and costs savings is mainly down to the excellent management from the early stages. So how have they made it such it a success?
Firstly, let's look at the cost savings, when the project is completed late next year the total savings on the original budget is expected to be around £200m. This has been saved by using old construction material and using local companies. The project has had healthy competition from suppliers and contractors which why local companies were attracted to bid to work on the project because they were promised a well-run project.
By employing local companies the project management team were able to save money by using local resources for most of the construction, which also reduced the transportation times. The teams are used to working in local conditions which also means the variables are more controllable and easier to manage. This combined has meant that to project has been able to run smoothly and on target.
From the start of the project everyone on each team, from the on-site catering to the project directors and Governmental bodies used the same terminology, set of processes and methods of communication, so that everything works on time and are compatible. This combined with the good project management and local resources has meant that the project will come in at £200m million under budget in 2016.
So it’s not all bad news in the project management world, the Queensferry crossing project is just one example of how PRINCE2 principles and methods can improve the project management process and ensure that projects are delivered on time and either on or under budget.
As we mentioned before, not everyone's project management ambitions are related to large scale construction projects, but there is certainly something to be learnt here. By adopting PRINCE2 principles and project planning processes any project, large or small can achieve and surpass its targets, because PRINCE2 is scalable to all project sizes, budgets and longevity.
We offer many international locations for our training courses and can deliver on-site courses too – whether you’re in Edinburgh, Egypt or Ecuador you can take a PRINCE2 course. Imagine the earning potential and recognition amongst employers, superiors and peers if you deliver a project that saves £200m.
If you want to be a successful project manager and run a successful project then book a PRINCE2 training course today! Call us on 0800 0355 832 to talk to one of our course specialist if you would like to book a course or talk about which course is suitable for you.