Success of an infrastructure project depends on several factors. It needs the perfect blend of planning, monitoring, execution and control to ensure that the project takes off as intended, within the specified timeline and cost. The success of an infrastructure project is linked with the growth of the nation, which makes it all the more important that the project is delivered accurately and appropriately.
- Using BIM: The planning and designing of the project should ideally be done in a virtual space before switching to the real thing. Building Information Modeling or BIM is the process of collating materials on the project from the start. It helps in avoiding any clash in concepts along with proper design collaboration.
- Skilled Talent: Hiring skilled talent can go a long way in ensuring success of the project. Since infrastructure projects are quite complex and need special talent at various levels, many of the companies outsource the task to professional infrastructure construction companies.
- Improvement in the Procurement Process: The procurement process for raw material, tools and spares should be transparent, cost effective and timely. Delivery schedules should be designed aptly after careful consideration of lead time, inventory levels and reorder levels.
- Payment to Contractor and Suppliers: Often it is observed that the infrastructure companies falter on payment to contractors, owing to which the contractor may delay the project execution. A fair and regular payment policy to contractor and suppliers will ensure smooth progress of the project.
- Cost Benchmark: It is important for infrastructure companies to have cost benchmarks. This helps in assessing the project risks.
- Transparency: Maintaining transparency is of utmost importance for the successful execution and implementation of infrastructure projects. Several projects have failed because of lack of transparency.
- Monitoring the project: The project should be monitored and ensured that the schedules are strictly adhered to. Gaps if any, should be plugged and reported to the management immediately. Action should be taken to avoid delays.
- Avoid Slippages: With tight margins, it is pertinent to plug cost escalation. So, slippages if any in the cost should be immediately plugged.
- Plan for the unforeseen: A smart entrepreneur will always plan ahead of time. For this, adequate room should be left for any unforeseen, untoward event. Such planning can only be done by an infrastructure company that has adequate experience and expertise in handling huge construction projects.
- An audit trail right from the beginning is important for pointing out loopholes in the project. Any dispute in regulatory necessities and contractual agreements should be sorted out right at the beginning.
It must be noted that infrastructural projects are quite demanding. Therefore, it needs experienced and expert management if it has to see the light of the day. That’s precisely the reason that most companies and even Government opts for a professional company with vast experience in handling the infrastructure projects.
Technique, tactic and strategy go along to make a project successful!