capital project management case study

Why the time is right to reinvent capital-project delivery

Projects 5.0 is a new model for the delivery of large capital projects in heavy industry. In the first of a forthcoming series of publications, we make the case for a radically different approach in the sector, and outline the six fundamental changes that could transform project-delivery performance.

In the last two decades, leading industries have slashed the cost and time of project delivery by changing how they execute projects. The cost of space flight has fallen by 75 percent, for example. Carmakers have accelerated new-model development by more than 30 percent. Leading manufacturers have halved lead times and doubled productivity and factory output.

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Applying the same underlying principles to large capital projects in heavy industries could achieve a similar step change in performance, with the potential to reduce actual project cost and time by 30 to 50 percent, more than doubling project returns. Yet the sector has struggled to achieve even moderate rates of productivity improvement or to deliver projects on time; a recent survey of senior project executives found that on average, projects overrun their budgets and schedules by 30 to 45 percent.

The coronavirus crisis has further accelerated the urgency for change. Lockdowns, labor shortages , and supply-chain disruptions have set construction programs back by months. The prospect of a long, uncertain period of recovery is forcing companies to rethink future project plans.

To address these old and new challenges, Project 5.0 builds on the Fourth Industrial Revolution’s advances, which introduced automation, machine learning, smart technologies, and the Internet of Things into conventional manufacturing and industrial practices. Incorporating these techniques into a broader set of changes, including stronger partnership networks, greater agility and flexibility, and thoughtful future-proofing, promises to unlock capital projects’ full potential to deliver lasting value.

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An industry ready for change.

At the root of the sector’s unenviable record is a project-delivery model that has remained largely unchanged for a quarter of a century or more. It is a model plagued by issues and inefficiencies: a lack of integrated systems thinking; prioritizing short-term cost management over long-term outcomes; poor communication between stakeholders; and bespoke projects and rigid planning systems that struggle to identify or adapt to changing demands. In conversations with industry leaders and sector experts, we synthesized the major sources of value loss that afflict today’s capital projects (Exhibit 1).

Industry leaders are experimenting with a growing list of new technologies and processes, from digital twins to AI-enabled planning algorithms. These tools have started to deliver real results: one mining company combined real-time digital-tracking and monitoring tools with lean construction practices to trim six months from its original 18-month construction schedule.

A real transformation of capital-project delivery will require more than targeted interventions, however. At best, narrowly focused tools and technologies can address only a small part of the overall value at stake. At worst, poor technology and process deployment can end up adding unnecessary complexity and confusion to the project.

Projects 5.0: A cleansheet approach to project delivery

The time is ripe for radical change in delivering large capital projects: starting with a clean sheet and rebuilding the project-delivery model from the ground up. Over the past year, we have worked with industry leaders and experts from around the world to reimagine how such a model would operate. We set ourselves the challenge of creating a model that could achieve five key objectives:

• Reduce actual project cost and time by 30 to 50 percent
• Produce safe and predictable outcomes
• Provide a platform for innovation and continuous improvement
• Maximize total project value for all stakeholders, including the end user
• Enable projects to meet sustainability goals

This “Projects 5.0” initiative had to pass one further test. It had to be a workable solution that could be implemented using elements, methods, and technologies that not only are available, but are proven to unlock value. Studying the most successful elements of various delivery models has allowed us to identify six fundamental changes required to transform large capital project delivery (Exhibit 2):

• An ecosystem of partners that collaborates across multiple projects to maximize end-to-end value and deliver optimal functionality for the end user.
• Industrialization and innovation, with the adoption of standard processes for repeated tasks. Extensive use of standardization and modularization reduces recurring design costs and enables offsite construction. Investment in innovation drives continual experimentation, with successful ideas rapidly deployed as new or updated standards.
• Agility, flexibility, and resilience, combined with a stable backbone of disciplined processes, progress monitoring, and management. Cross-functional teams work together to develop and deliver project elements, solve problems, and respond to change. Resources are rapidly reallocated within and between projects according to need.
• Sustained capability building with a redesigned “people supply chain” that ensures companies acquire, develop, and retain the labor and talent they need for consistent, high-productivity work across all project phases.
• A data-driven operating model resting on a robust digital architecture, shared by all stakeholders in the ecosystem. The project-technology platform should enable real-time visibility of progress, facilitate collaborative design and problem solving, and enable data-and insight-driven decision-making.
• Future-proofing of projects, with the use of metrics and incentives that consider full lifecycle impacts, future opportunities, and risks, while promoting innovation for long-term commercial and environmental sustainability.

The next normal in construction: How disruption is reshaping the world’s largest ecosystem

Reimagining the change.

In September 2020, we conducted a worldwide survey of more than 300 senior executives and decision-makers in the large capital-project value chain, including owners, main contractors, engineering-service providers, and equipment manufacturers. We asked them to estimate the feasibility of these six changes and their potential impact on project delivery.

Respondents believe that the successful implementation of these changes could reduce both costs and project durations by 30 percent or more (Exhibit 3).

The survey also suggests that while the industry is ready for change, few leaders have begun the transition to an improved project-delivery model. More than 75 percent of respondents said that a significant shift in the project-delivery model was part of their organization’s strategic agenda, with more than half putting it at the top of their priority list. Yet 86 percent of respondents said that their organizations had not made significant progress on this point.

Changing a project-delivery model that has been in use for decades is always going to be challenging, especially when the work involves multiple stakeholders and multi-million-dollar capital investments. Transitioning to a Project 5.0 model will therefore be a journey with multiple phases. Companies can start by setting bold aspirations for the future they want to achieve, creating a roadmap with priority initiatives—including ones specifically designed enable significant mind-set shifts across the ecosystem—and defining new ways of working.

In a forthcoming report, we will take an in-depth look at the six fundamental changes required in the new project-delivery model. We will also describe the key actions that will enable the transition to Projects 5.0, and lay out a plan for rapid, sustainable change.

Shankar Chandrasekaran is a partner in McKinsey’s Mumbai office; Shakeel Kalidas is a consultant in the Johannesburg office, where Gerhard Nel and Prakash Parbhoo are both partners; Mina Mir is an expert in the Dubai office; and Anuradha Rao and Siddharth Srikanthan are consultants in the Chennai office.

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Walking the talk: Best practices for digital construction

• Site-Based Capital Projects Improvement Journey—A Case Study Timeline
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The origins of site-based capital project improvements often take a similar form: projects take too long in the funnel, schedules are overly optimistic, endemic understaffing of key disciplines limits a site’s ability to apply Best Practices, and alignment between organizational stakeholders is absent, hindering efficient execution. All of these issues were present at one site with which IPA partnered to drive improvements.

The site had already identified the need to develop competent resources (and to ensure that sufficient key personnel were available), recognized the capability limitations of local engineering and construction contractors, and, further, acknowledged that existing performance measurement was inadequate to drive performance. Taken together, these issues served as the impetus for the site to make the first step on their continuous improvement journey, and to engage IPA’s site-based project expertise .

What follows is a high-level look at how IPA has supported a site’s leadership team through the first few years of a project performance change effort. We adopted a collaborative engagement model with this client—whose primary areas of focus involved measurement and data-focused change. Our work with this client has resulted in significant progress toward goals, as well as positive feedback. One stakeholder stated that IPA “reinforced and solidified site-based project Best Practices with data,” and added that “Our own in-house learnings align with IPA studies.”

Year 0—Baseline Performance Measurement (Expert Review)

In some instances, companies consider performance benchmarking to be IPA’s exclusive role in continuous improvement. However, IPA has a strong record of helping clients navigate through their improvement journeys. After recognizing the need for change, site leadership (who understood the importance of an independent, data-centered approach) partnered with IPA to define the best approach to drive meaningful, sustained performance improvement. The first order was an unbiased current state appraisal, which came in the form of a site-wide benchmarking evaluation of projects, processes, and systems.

A strong case for change is the foundation upon which transformational change is built. In addition to what the site had already recognized as problem areas, building the case for change required an independent appraisal of the site’s performance across its portfolio of projects. This initial measurement constituted the baseline upon which all future improvements would be referenced, and included both quantitative and qualitative measures. IPA and the site leadership team collaborated in selecting the projects and programs to be measured.

IPA led conversations with key site stakeholders (including executive management), conducted project team interviews, and completed an extensive review of project documentation. This client-provided data served as the basis for IPA’s performance analysis. IPA evaluated a suite of both leading and lagging performance measures, reviewed industry trends, and provided insights from our work with Industry’s best-in-class performers. The culminating activity was a Strengths, Weaknesses, Opportunities, and Threats (SWOT) analysis of the site project portfolio and projects organization to kick off an action planning and change implementation effort.

Years 0 to 2—Action Planning and Implementation of Change Program (In-House)

Based on IPA’s recommendations, the site team developed a focused and realistic i mprovement plan with particular attention given to the key levers of best-in-class performance. At this site, the development of strong project teams and the routine, systematic use of Front-End Loading (FEL) practices were the primary focus. Most of the site’s capital projects improvement journey utilized in-house resources; a side-benefit of this approach was that this provided the opportunity for growth, training, and improved job satisfaction.

Specific actions to strengthen weak practices and introduce Best Practices were taken; first and foremost, these included addressing resource gaps, which IPA had identified and quantified. Secondarily, inhibitors of performance identified through the IPA-led benchmarking effort were removed and enablers of performance instituted. Finally, a suite of bespoke key performance indicators (KPIs) proven to drive project performance were put in place. This work coincided with a site-wide reorganization effort begun at the start of year 2, with the objective of fostering better integration across functions to improve asset availability and performance.

Year 2—Site Improvement In-Progress Review (External Review)

While many companies wait 3 years to re-benchmark site portfolio performance, the site wanted a real time appraisal of progress. In partnership with the site, IPA conducted a “health check” review to assess initiatives and actions undertaken and progress made by the site following the baseline benchmarking evaluation. Far from being an “audit,” IPA’s work with the site took the form of extensive stakeholder discussions, document reviews, an anonymized survey, and a site walkthrough. The suite of KPIs adopted by the site was independently rated by IPA, and areas of disconnect highlighted. Site leadership reiterated the vision of future performance, and IPA provided updated, actionable recommendations to enable the site to reach its goals.

To augment IPA’s performance benchmarking approach, staffing levels were quantitatively assessed , using the new organizational framework. This analysis highlighted base staffing needs, provided comparisons with Industry’s top performers, and, importantly, highlighted potential areas of contextual risk, such as expected portfolio volatility and the implications on “right sizing” the site based organization. In addition to identifying functional resource gaps, IPA highlighted the need to clarify the remit of certain functions to improve project and portfolio delivery.

Years 2 to 3—Refine and Implement Additional Change Efforts (In-House)

With a number of improvement initiatives solidly in place and demonstrable improvements in KPIs, the site turned its focus to additional areas of improvement: project initiation, portfolio management, and resource management. The site partnered with IPA to develop tools and templates for new processes. These tools were championed by in-house resources. Meanwhile, new employees were hired to fill specific roles where IPA had identified staffing gaps, and to ensure appropriate resourcing across the site’s newly instituted organizational framework.

In conjunction with these efforts, learning and development efforts were initiated with the IPA Institute . IPA partnered with the site’s learning and development group to develop learning objectives for specific project functions, and to reinforce the use of site-based project best practices . As one participant said, “Training was effective at communicating data-supported Best Practices. In an every-changing process improvement environment, it was refreshing to see what changes could be made that are truly value-added.”

Year 3—In-House IPA-Led Training, and Repeat Benchmarking (External Review)

The IPA Institute offered slightly adapted training courses on selected topics to the project professionals at the site. The IPA Institute offers both in-house and public courses , and builds on IPA’s research and experience.

IPA also conducted a repeat benchmarking of the site projects portfolio, based on a selection of more recent projects. The results were compared against the baseline performance to show areas of improvement or gaps.

Looking Ahead

The site can expect the results from the repeat benchmarking to refine its improvement planning and identify focus areas for the next 3-5 years. Further continuous improvement efforts already being pursued include accelerating the team project performance culture and improving capital efficiency.

Our work with this customer has enabled effective decision making, adaptability, and tailored implementation of their change management and improvement efforts. IPA has also provided our in-depth expertise in industry Best Practices to their teams through collaboration and training. The site’s leadership remains committed to improving and has identified consistent measurement as an important enabler of achieving efficient project delivery and operational excellence.

Complete the form below to learn more about IPA’s work with site-based project organizations and involvement in site improvement programs.

*Case study by Katherine Marusin, IPA Product Development Leader, Site & Sustaining Capital

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Are your projects running over time and budget?

You´re not alone. Today´s projects typically cost twice as much as they did 50 years ago. However, many of the approaches used have not changed. That is in part because the construction industry ranks among the least digitally enabled sectors despite accounting for 13% of global gross domestic product (GDP). This has resulted in a lack of transparency across the value chain which in turn causes a lag in productivity, putting budgets and schedules at risk of overrun and asset performance delivering below expectation.

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What Is a Capital Project?

Understanding capital projects, examples of capital projects, capital project funding, what are capital projects in government, what is a noncapital project, what makes a capital project successful.

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Capital Project: Definition, Examples, and How Funding Works

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A capital project is a long-term, capital-intensive investment to build upon, add to, or improve a capital asset . Capital projects are defined by their large scale and large cost relative to other investments that involve less planning and resources.

Key Takeaways

• A capital project is an often-pricey, long-term project to expand, maintain, or improve upon a significant piece of property.
• A capital project is distinct from other company projects as it is large in scale, high-cost, and requires considerable planning relative to other investments.
• Capital projects often refer to infrastructure, like roads or railways, or, in the case of a corporation, the development of a manufacturing plant or office.

A capital project is a large-scale project with a high cost that is capitalized or depreciated .

Regular capital investments, such as new facilities, structures, or systems, may be necessary to accelerate growth within a company or government—for example, if a company wants to build a new warehouse or purchase new manufacturing equipment to increase efficiency on the factory line.

Capital projects typically consist of the public sector building or maintaining infrastructure, such as roads, railways, and dams, and companies upgrading, expanding, or replacing their facilities and equipment.

Capital projects must be managed appropriately, for they require a significant commitment of company resources and time. The project assumes a calculated risk with the expectation that the capital asset pays off. Management of risk is a key driver of successful project development and delivery of a capital project.

The most common examples of capital projects are infrastructure projects such as railways, roads, and dams. In addition, these projects include  assets such as subways, pipelines, refineries, power plants, land, and buildings.

Capital projects are also common in corporations . Corporations allocate large amounts of resources ( financial and human capital ) to build or maintain capital assets, such as equipment or a new manufacturing project. In both cases, capital projects are typically planned and discussed at length to decide the most efficient and resourceful plan of execution.

Capital projects are big investments and, therefore, face a lot of scrutiny, especially when paid for with public funds or the money of a publicly traded company . The goal is for these investments to pay off, but sometimes they are poorly planned and executed and end up losing significant capital . 

These projects are big, take time to complete, and can cost a lot of money, meaning it is often necessary to obtain equity or debt financing to make them happen. To receive funding, capital projects are obligated to prove how the investment provides an improvement (additional capacity), new useful feature, or benefit (reduced costs).

Additional funding sources for these projects include bonds , grants , bank loans , existing cash reserves , company operation budgets , and private funding. These projects may require debt financing to secure funding. Debt financing may also be required for infrastructure, such as bridges. However, the bridge cannot be seized if the builder defaults on the loan. Debt financing ensures that the financier can recover funds if the builder defaults on the loan.

Economic conditions and regulatory changes can affect the start or completion of capital projects, as in the case of  Brexit , which caused the cancellation or delays of some projects in Britain.

In the United States, Congress is responsible for funding public capital projects, such as roads, power lines, bridges, and dams.

Government capital projects are large-scale, costly projects to maintain or improve public assets, such as parks, roads, and schools.

Most public offices set thresholds for what qualifies as a capital project. For example, in the Commonwealth of Virginia, a capital project is defined as a project that creates at least 5,000 gross square feet of building space or exceeds $3 million in total project cost. Projects that fall under each jurisdiction’s thresholds, which can also include life expectancy, may instead be called noncapital projects.

Careful planning and realistic estimates do. Affordable funding needs to be secured, costs need to be managed well, and the project must have a very good chance of becoming profitable. One or two setbacks could turn a capital project into a financial disaster.

The Bottom Line

Capital assets are key revenue generators and the backbone of many companies. Those wishing to expand and become more profitable will need to invest in capital projects and do so in the most cost-effective way possible. Over time, it is smart, well-executed investments that separate the good stocks from the weak ones.

Marwan Mohamed, Erika Anneli Pärn, and David J. Edwards, via ResearchGate. “ Brexit: Measuring the Impact Upon Skilled Labour in the UK Construction Industry .” International Journal of Building Pathology and Adaptation , Vol. 35, No. 3, Pages 264–279.

Construction Products Association. “ Brexit—Impact on Construction Products .”

Industrial Engineering and Operations Management Society. “ BREXIT: Assessing the Impact on the UK Construction Industry & Mitigating Identified Risks .”

U.S. Capitol Visitor Center, via Internet Archive. “ What Congress Does .”

Virginia Tech, Division of Campus Planning, Infrastructure, and Facilities. “ Understanding Capital vs. Non-Capital Projects .”

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Capital Procurement: The Cornerstone of Successful Projects

October 11, 2012  By  Robert Tevelson ,  Andreas Gocke ,  Matthias Tauber , and  Stefan Benett

Despite the economic challenges that markets all over the globe continue to face, many industries—including basic materials, oil and gas, and utilities—have large-scale projects in the works. Over the next four years, for example, the top ten mining companies together plan to spend more than $200 billion on capital projects related to spending categories such as machinery, infrastructure, and engineering services.

Such capital projects are typically very large investments, often representing more than 10 percent of a company’s annual revenue, depending on the industry. Notably, too, external capital spending can represent 80 percent or more of a project’s total budget. Many companies have established dedicated capital-procurement functions and have put project-specific procurement teams in place. Those companies regularly update their supply strategies for important equipment and service categories and clearly define core processes such as cost escalation estimation and claims management (the process of negotiating paybacks related to changes in project plans, unexpected cost increases, or quality problems). Standard project procedures and handbooks mandate that project compliance be monitored closely. (See “The Dos and Don’ts of Capital Procurement.”)

The Dos and Dont's of Capital Procurement

In our experience, companies with successful capital-procurement programs ensure that ten elements are in place and avoid ten common stumbling blocks.

Successful companies do the following:

• Establish the transparency of category spending across the project portfolio.
• Ensure the involvement of the procurement function as early as the concept phase of every project.
• Streamline project approval processes to ensure that procurement has sufficient lead-time to secure the best possible proposals from suppliers.
• Develop a clear profile of accountabilities and required skills for project procurement managers, especially in the case of large projects.
• Build a dedicated team of procurement experts focused on both overall and project-specific procurement.
• Clearly define cross-functional procurement processes as part of a project handbook.
• Establish a total-cost-of-ownership perspective with regard to key equipment and investment decisions.
• Track project and partner performance based on KPIs that address project performance and progress, as well as procurement effectiveness and supplier cost performance.
• Systematically evaluate alternative contracting models and incentive schemes on the basis of project complexity and size.
• Actively monitor compliance with procurement processes, including subcontractors that assume procurement tasks.

Successful companies don’t do the following:

• Make unrealistic assumptions regarding addressable spending volumes. Instead, they clarify the share of committed spending volumes for every project.
• Allow ambiguity on cross-project demand. Rather, they use standard project and equipment structures to define work packages.
• Avoid regular interaction with key stakeholders. They interact with stakeholders using a consistent platform for the procurement and project management functions.
• Lock in suppliers too early. Successful companies don’t let engineers and design personnel make commitments with potential suppliers prematurely, because doing so limits supply options and precludes competitive contracting.
• Take an unfocused, overly broad approach to optimizing categories. Rather, they prioritize spending areas with short-term impact and strategic importance and ensure that sourcing strategies are fully developed and implemented systematically.
• Put insufficient focus on the procurement performance of third parties. Successful companies ensure that procurement-related incentives are agreed upon as part of their arrangements with major project partners and contractors.
• Overlook project-specific dynamics. Instead, they consider project timelines and constraints in cross-project approaches, such as bundling.
• Fail to define procurement career paths and roles. Successful companies attract procurement talent by clearly defining career paths.
• Fail to clearly calculate savings. It is better to provide clear guidelines on how value is defined and how potential savings should be specified.
• Focus too restrictively on project delivery. Instead, successful companies review procurement strategies and timelines in light of changing project business cases (in an economic downturn, for example).

In practice, however, many companies continue to struggle to establish a consistent approach to capital procurement, and they suffer various consequences:

• They experience poor capital-procurement performance and significant deviations from established budgets and schedules, as well as from benchmark cost levels.
• They do not identify and manage supply-related risks early enough, and thus they suffer from increased capital expenditures and operational costs relative to initial plans—as well as frequent extensions of lead-time for critical equipment.
• They lack a cross-project perspective, which keeps them from sharing best-practice designs, leveraging aggregate demand, and establishing partnerships with key suppliers on a global level.
• They lack the tools needed to manage decisions effectively, track the impact of decisions across the project life cycle, and monitor the performance of procurement activities or suppliers in individual projects.

On the basis of projects that The Boston Consulting Group has worked on with clients, we have identified four building blocks of a successful capital-procurement operating model that can be applied by companies across many industries:

• A dedicated capital-procurement strategy that considers the specifics of the supply market, the capabilities of the company, and the requirements for the successful delivery of capital projects
• An integrated approach to value delivery and risk management in the procurement of project-related goods and services
• A consistent organization structure as well as a clear definition of processes
• The development and enablement of high-performing cross-functional teams

This model, when aligned properly with both internal and external stakeholders and consistently applied, can sustainably improve the performance of a company’s capital-procurement function. Companies using this model can save as much as 15 percent of a capital project’s net present value while reducing risk and ensuring that budgets and timelines are met. These building blocks are critical to establishing competitive price levels across key spending areas and ensuring that project-related supply risks are appropriately managed. (See Exhibit 1.)

A Dedicated Capital-Procurement Strategy

The right approach to capital procurement should be closely linked to a company’s project-delivery strategy. In practice, a variety of project delivery models can be applied: strong leadership from the owner, management primarily by a contractor or outside engineering company, and execution based on a lump-sum turnkey agreement.

• Owner-Managed Projects. If a company can rely on its own capabilities to engineer a solution and to execute and manage a capital project in a specific geographic region, an owner-managed approach to project engineering and management is an option. Under these circumstances, the procurement function serves as a partner for the project management team, helping it to assess and manage project-related risks, outsource specialized tasks, and establish a project-related sourcing strategy that aims to leverage spending volumes as well as procurement activities beyond the particular project’s scope.
• Projects Managed with the Support of an Engineering, Procurement, and Construction Management (EPCM) Contractor. These projects will likely involve engineering partners and equipment suppliers, which often play an important part in supporting the project owner in managing the project, defining major parts of the project design, and providing access to critical supply networks in remote regions. An EPCM partner typically complements and leverages the capabilities of an owner’s team. It will drive the engineering solution as well as the execution of the project; however, the project owner continues to bear the ultimate project risk. Typically, an EPCM partner is incentivized through a bonus scheme linked to the project’s success. When an EPCM partner model is used, the procurement organization should focus on establishing relationships with key suppliers, including the engineering companies and equipment suppliers. In those cases, providing partners with guidance on sourcing strategies and evaluating partners’ procurement performance and related project risks on an ongoing basis are critical strategic procurement capabilities.
• Projects Managed Using a Lump-Sum Turnkey Agreement. Using this model, a project partner will contract to deliver the completed project on time and for a defined total cost. This can be an appropriate project model when internal capabilities are limited and project-related risk should be avoided. The premium paid for delivering a project at minimal risk will depend on the nature of the project and the availability of other suppliers; in a very competitive market, the premium can be high. In the case of large projects, the project partner may not be willing to bear all the execution risk if that risk is so high that no risk premium could compensate for the threat of significant losses on the project. Once the sourcing strategy is determined and project partners are selected, opportunities to influence the project’s cost structure will likely become very limited. The procurement function must get involved early to assess all the potential contracting options and incentive structures and to help select contractors, rather than supporting sourcing activities only once the project is under way.

The appropriate delivery model depends on a range of factors and determines how the many critical activities involved in procurement are carried out. (See Exhibit 2.) A portfolio with numerous projects will likely include more than one approach.

Given the variety of possible delivery models, it is critical that the procurement team’s primary role (including how and where it can best create value) is clearly defined within the context of the delivery model chosen for the project at hand. To that end, the leaders of the company’s procurement function must make clear to individual project-management teams and internal customers when support will be necessary and what form that support should take, depending on the delivery model chosen. The procurement organization will also determine how to manage relations between partners, by assessing past project performance and the best strategic procurement practices across key spending categories.

An Integrated Approach to Value Delivery

The goal of a best-practice capital-procurement organization should be to seek opportunities to deliver additional value, beyond the scope of the strategic sourcing tasks required for each individual project. Succeeding in this task requires a deep knowledge of the supply market and a perspective that takes into account the entire life cycle of each project across the entire project portfolio.

Taking a broad view of procurement opportunities that goes beyond each individual project can reveal numerous ways to boost value across the procurement spectrum:

• Supplier Management. Repeated collaborations with strategic supply partners can minimize inherent project risks for both sides and allow for improved contract terms across projects.
• Bundling. Project owners can increase their buying power and realize scale opportunities by bundling demand across projects or combining project-related and ongoing spending volumes.
• Process Optimization. Repeated collaborations with key project partners and contractors, and the establishment of joint project-management standards, can allow for reduced costs and greater efficiency of service delivery.
• Sourcing in Best-Cost Countries and Localization. A clear view of the project pipeline within a region allows companies to identify and develop qualified local suppliers in those countries in a specific region that offer the lowest costs, with the objective of providing services, products, and components across a range of projects.
• Demand Management. Companies can increase the value of their projects by effectively managing their order pipelines for equipment and analyzing the demand for resources in key categories across projects.
• Standardization and Redesign. Owners can gain efficiency by reusing and optimizing important design elements and equipment across projects.
• Optimized Make-or-Buy Decisions. The effective assessment of the best mix of internal and external services needed for each project, based on a full understanding of all partners’ capabilities, can optimize the value created for every party involved.
• Supply Risk Management. The understanding and management of project risk can be improved through repeated collaborations with select suppliers; that pattern can result in reduced risk premiums in the products and services of suppliers and partners.

Companies that consistently capture the most value from their capital projects typically excel at five critical procurement capabilities:

• Superior supply-market expertise
• Early assessment of project-related procurement risks
• Cross-project sourcing strategies
• A rigorous procurement approach based on the total cost of ownership (TCO)
• The use of incentives and contracts designed to optimize partners’ performance

Superior Supply-Market Expertise

The highly cyclical nature of the demand for project-related equipment and services requires in-depth knowledge of key supply markets. Project owners must make significant efforts to assess market trends for supplies from a cross-project perspective, with a multiyear horizon, in order to support strategic procurement decisions.

Companies must be able to anticipate how changes in specific supply markets or regions can affect their sourcing strategies. The transition from a seller’s market for supplies, where the focus should be on the active management of cost-escalation and lead-time risks, to a buyer’s market, where long-term contracts need to be actively reviewed so that the buyer can benefit from declining price levels, can often happen within months. (See “Market Changes and Capital Budgets.”)

Market Changes and Capital Budgets

Excellence in capital procurement is particularly important in situations in which changes in the market environment have a profound impact on the project’s underlying business case.

For example, in recent months, major mining companies have reduced their capital budgets by 20 to 30 percent, owing to a weaker outlook for commodity prices. Although the reduced budgets resulted in the cancellation of projects, reduced capex budgets more frequently lead to a reassessment of the project-sourcing strategies to accommodate the lower capex budget.

Reduced commodity prices and lower opportunity cost from delayed projects offer the opportunity to stretch project deadlines. As a result, project cost increases may be avoided because certain specific expenses, such as express deliveries or overtime payments for services, will not be required. Tender and negotiation processes may be extended, given that a changed market environment offers the opportunity to review price premiums that were established in periods of strong supply markets. A systematic reassessment of the project’s overall costs is crucial in these situations, to understand the current level of commitments across commodities and to identify remaining addressable costs.

A high level of supply market expertise was instrumental for a leading global mining company in defining its approach to the purchase of critical equipment. The company’s goal was to narrow its supply base across numerous projects by analyzing global equipment demand. A forecast model based on historic investment patterns for key equipment categories in the mining industry allowed the company to predict an upcoming reduction in equipment demand. This finding, in turn, helped the company to shape its negotiation strategy across its project portfolio, putting greater emphasis on demand consolidation, tendering, and TCO analysis, despite brief timelines and urgent needs across numerous individual projects.

On the basis of the insights it gained into the supply market, the company was able to approach the market using a coordinated sourcing effort at the right moment, resulting in cost reductions of more than $100 million, which helped it reestablish its competitive cost position.

Early Assessment of Project-Related Procurement Risks

Every cross-functional project-leadership team needs to assess the procurement-related risks and tradeoffs, beyond the technical aspects and feasibility of a project, early in the planning process as part of the overall business case. These might include the impact of project-sourcing strategies on related supply risks and the need to adhere to local-content regulations. The goal of this upfront assessment is to identify the optimum solutions with regard to project delivery, structure, and risk.

Project Delivery. Companies will likely employ one of three methods of project delivery, as described earlier: owner-managed approaches, partnerships with specialized service partners such as EPCM contractors, and lump-sum turnkey solutions. The procurement function should actively support the early assessment of the best approach to designing and completing each project. This assessment involves the consideration of the company’s own capabilities, the project’s risk structure, and the willingness of key partners to bear some of the risks of the project under acceptable commercial conditions. It therefore requires a realistic look at the supply options for critical components, skills, and services, such as the availability of skilled engineering-services providers in the targeted region.

Project Structure and Scope. Typically, a project owner’s partners and key suppliers will offer several options for combining packages of equipment and project-related services. However, different approaches with regard to the project structure can have a significant impact on procurement cost, project complexity, and other important performance dimensions, such as adhering to regulatory requirements and local-content targets. A dedicated scenario analysis of each project’s supply and sourcing strategies can help project owners make the appropriate decisions and leverage their bargaining power in discussions with the key project partners.

A major oil and gas company recently evaluated its options for structuring a project requiring a multibillion-dollar investment. The company sought to segment the project-related tasks among suitable equipment suppliers and related engineering partners with the goal of balancing the project’s complexity, the potential for bundling high-volume purchases, and the fulfillment of local-content requirements. The need for a systematic risk assessment and the joint-venture structure of this particular project required a fact-based assessment of the ideal project setup over the five-year project life cycle.

In its assessment, the company employed a scenario approach that addressed several concerns regarding the optimal structure of the different work packages, equipment requirements, and services to be rendered. The company developed scenarios for allocating tasks and awarding responsibilities for work packages to different partners and then evaluated those scenarios in the light of significant risk factors, including how to minimize the number of interfaces to be managed across the project, how to fulfill local-content requirements, and how to deliver the project in the most economical and low-risk way possible.

Each scenario was then assessed from both a commercial perspective and a project risk perspective, an approach that allowed the company to quantify the potential impact of delays and quality issues. The risk assessment helped support an efficient, fact-based decision-making process among the key stakeholders.

Due Diligence in Reviewing Project Risk. The early review of a project’s supply-related risks is generally part of its overall risk assessment. The procurement function can add further value by assessing the project’s scope, on the basis of a detailed knowledge of inbound supply chains and logistical requirements. For projects that involve complex, long-term deliveries across several divisions, the procurement organization must assess key assumptions about the project’s major interfaces, such as project demand and any additional infrastructure investments that may be required.

In one recent case, a potential partner offered a project owner, a utility company, a long-term supply agreement based on an investment of several hundred million dollars. At first glance, the partner’s feasibility study suggested a robust business case for the project, one that reflected apparently appropriate assumptions about potential changes in supply market prices and capex budgets. A more detailed analysis, however, revealed several project risks—including a lack of transport infrastructure and greater-than-expected future demand for the necessary supplies—that were not visible to the project partner because they involved the project owner’s operations.

As a result, several elements of the proposed supply agreement had to be renegotiated, resulting in such changes as a postponed but more aggressive ramp-up phase for the project. This ensured that the planned investment matched the project owner’s demand more closely.

The analysis also identified other risks, including those involved in investing in complementary infrastructure to facilitate the shipment of the commodities produced by the project. So the project owner provided additional support to the supplier in the completion of the project as well as in the management of key stakeholders, including the government agencies responsible for transport infrastructure and environmental permits.

Cross-Project Sourcing Strategies

Companies whose capital procurement activities focus on individual projects miss the opportunity to leverage cross-project experience and buying power, even if those individual projects are well executed. If cross-project strategies are to succeed, certain elements need to be established:

• Transparency is essential, particularly as it relates to the addressable project cash flow, realistic savings targets, and value-creating impact across all projects.
• A standard approach to the development of category procurement strategies must be aligned with project-specific objectives through dedicated cross-functional category committees. For companies with many projects, this also requires an effective process for developing a global supplier base, independent of individual-project requirements, to ensure the qualification of new suppliers prior to the start of new projects.
• The effective combination of project-specific procurement activities and category-specific strategic sourcing activities can be achieved on the basis of an understanding of each project’s timeline and the lead-time required for strategic sourcing activities and negotiations.
• A clear negotiation and partnering strategy aimed at capturing the benefits of the repeatable use of standardized designs for key equipment, construction packages, and related services should also include the establishment of standard contract models that cover requirements for equipment installation and service.

As it planned the construction of several new power plants recently, a leading utility identified the potential replication of the initial design in each subsequent plant as a key value opportunity. So it focused the tender process for the first plant on reusable design components and economies of scale and placed great weight on the potential suppliers’ ability to build the subsequent projects efficiently. Ultimately, the performance-related agreements it made with the winning engineering-services providers and technology suppliers enabled it to reap the benefits of the repetitive collaboration with them, including a reduction in the effort needed to carry out the proposed activities in the offer phase of each project and a reduction of engineering effort across all the projects.

A Rigorous TCO-Based Procurement Approach

When companies make early project-investment decisions in a high-growth environment, all too often they focus largely on completing the project on time, without paying adequate attention to subsequent operating costs.

A TCO-based investment-decision model helps maintain the focus on subsequent life-cycle costs during supplier selection and negotiation. Appropriate TCO-based models should be based on recent company-specific data, which should establish a proprietary perspective. As such, a TCO model can serve as an effective support in negotiations with partners, through its focus on both the initial capex and the subsequent operating costs. (See “Value Engineering.”) Additionally, key performance dimensions should be considered, such as the impact of equipment selection on product quality or equipment uptime. Such models also provide a clearer view of differences in the cost base and operating conditions from country to country.

Value Engineering

A realistic understanding of the TCO was the starting point for a collaborative value-added engineering effort between a major engineering company and a key equipment supplier. On the basis of a jointly developed perspective on how engineering specifications would affect the TCO of key equipment, both parties identified savings opportunities of up to 20 percent. An initial agreement to share the benefits of the joint optimization of solutions was a significant factor in gaining the supplier’s buy-in. The collaboration included optimized equipment specifications, the use of select components from best-cost-country sources, and best-practice logistics and quality-inspection procedures.

Often, this enhanced level of insight will enable a profound global benchmarking of operations and the rollout of best practices in the operational phase of projects, revealing the time frame for the depletion of various consumable supplies, for example.

One leading global mineral-resources company overcame the difficulty of establishing an integrated approach to total life-cycle costs by establishing a systematic approach to TCO management, which became a centerpiece of the company’s procurement and operations strategy for mobile and fixed mining equipment. In the past, tenders had been analyzed on the basis of TCO-related information, some of which was provided by suppliers. The project owner could not challenge these assumptions during the negotiation phase because it had little insight into its own internal data regarding TCO, including fuel consumption levels and the true cost of servicing and spare parts. As a result, its assumptions regarding costs were overly optimistic.

As part of its new TCO strategy, the owner used its own proprietary data to analyze a total of $800 million in capex. The company’s procurement organization also standardized the TCO models used by all of its sites, while taking into account country-specific differences in areas such as fuel prices. The new approach gave the company the confidence to contract out about 80 percent of its volume in mobile equipment to one supplier, on a long-term basis, leading to $100 million in annual savings.

Optimized Incentives and Contracts

Designing an appropriate incentive structure that benefits all of a project’s partners is crucial to completing the project successfully and sharing the risks fairly. The willingness of partners to take on some portion of the project risk will inevitably be linked closely to the options each supplier might have for deploying its resources elsewhere. The key elements of any potential agreement must be reviewed and optimized, and any opportunities to capture additional benefits from repetitive collaboration, such as increased know-how, scale effects, and the reuse of components, must be actively assessed and pursued across the project portfolio.

A Consistent Organization Structure and a Clear Definition of Processes

Well-documented cross-functional processes and clear collaboration rules are critical if the procurement function is to be successfully integrated into every project. The commodity-purchasing teams and the project procurement professionals need to work together closely to define all procurement-specific milestones and deliverables. A dedicated project-procurement manager will usually serve as the link between the procurement function and each project throughout the project’s life cycle.

Every project plan must include definitions and timetables for all the major milestones, including the completion of the final sourcing plan, the definition of the scope of project-specific tenders and work packages, and early and regular reviews of all cross-project sourcing opportunities. The performance of the procurement function itself should be assessed on an ongoing basis, and external partners should be included in the assessment process.

The importance of effective organization can be seen in the case of a leading global-resources company. The company had successfully established a corporate procurement department, but aligning all the procurement experts—each with responsibility for different spending areas, different projects, and several hundred million dollars in spending—remained a challenge. A primary reason was that projects were not being consistently organized; 40 percent of projects, for instance, had no dedicated procurement manager.

By establishing an enterprise-wide approach to the development of every project and identifying high-caliber professionals to represent procurement at the project leadership level, the company succeeded in fully integrating the procurement function with each project. The resulting improvements in collaboration between procurement and project management enabled the company to generate savings of up to 10 percent of the total budget for all of its projects.

Cross-Functional, High-Performing Teams

In practice, the role of the project procurement function will vary depending on the nature of each project. So the project procurement function must possess the flexibility and expertise to operate smoothly and efficiently under every project-delivery circumstance. Projects managed entirely in-house need to be led by a strong project manager with a good understanding of the importance of a clear sourcing strategy and the early involvement of procurement. For projects delivered through an EPCM or turnkey agreement, the procurement function’s role is primarily to negotiate the contract terms, incentives, and agreements with the primary contractor, whether it be an engineering services team or a turnkey partner.

A leading global petrochemical company was facing different requirements for the degree of in-house project-procurement support needed on a variety of projects, depending on the size of the capex investment in each project and the degree to which the management of each project was outsourced. Using a customer-driven approach, the procurement function established with the project management team a standard catalog of procurement-related activities. The catalog defined the role of procurement as an internal service provider in the context of different project-delivery models, which helped to reduce significantly the ambiguity with regard to the support of different projects. The project management team also participated in the definition of the skills needed by project procurement managers, thus providing guidance on the recruitment of people to fulfill the required activities.

Key Success Factors

Given the criteria needed for a successful capital-procurement function, how best should companies go about establishing an effective operating model for the function?

In the case of larger procurement organizations, these changes require a coordinated cross-functional approach, involving both the engineering and project-management functions. Building the model itself will require working in stages, first assessing in detail the procurement function’s current model, and then developing a multiyear plan for moving to the new model. (See Exhibit 3.)

Understanding the Status Quo and Setting Targets

No transition plan can succeed without an awareness of what needs to be changed. A good starting point is to systematically assess past performance, making sure to answer the following questions:

• How do we currently gather benchmarking and performance information regarding our project-specific suppliers? How are these findings translated into procurement strategies across all our projects?
• What are the current key spending categories and value drivers in each category? How can we leverage them across all our projects?
• Which critical procurement-related risks have we faced in our recent projects? How can procurement contribute to managing them, and which incentive structures should be put in place?
• What are the capabilities that need to be developed to establish best practices in capital procurement?
• How can we transform our current processes to successfully establish sustainable procurement capabilities while creating short-term value?

Our experience working with clients suggests that an approach that combines the rapid application of best-practice concepts in pilot areas and the adherence to a realistic road map is the best way to transform the capital procurement function.

Developing Concepts and Piloting Projects

While the process of generating new ideas for capital procurement can often be accomplished within a small team, applying new approaches more broadly is a roadblock common to transformation efforts. Therefore, it is critical to establish an early focus on the practical application of new ideas by applying them selectively in pilot projects; this will enable the team to work on the implementation process in a narrow, controlled context, and it will establish a robust concept for further rollout.

Transforming the Company's Approach to Capital Procurement

As challenging as the concept-generation and piloting stage is in the establishment of procurement excellence, managing the transition from initiative to “business as usual” across the entire project pipeline can be even more difficult. In preparing for the transition, it is critical to plan the establishment of the required infrastructure in parallel with support for the procurement team. This includes both the tools and the systems needed, such as a TCO-based database and a project-demand-planning tool, as well as the overall organization structure. Companies must also identify the critical roles that will need to be filled in the new organization, such as the category managers and project procurement managers, and invest in the right people to put in those roles.

Once the new system is ready to be rolled out, companies must establish and follow a consistent plan for change along all the key performance dimensions. They must identify the important sourcing events (such as tender awards and upcoming major negotiations) across the entire project landscape and actively monitor procurement performance across the team.

Finally, reliable metrics need to be established to track the timing and impact of the transition and to report on the benefits achieved, including improvements in overall cost savings and the minimization of project-related risk.

These success factors can help guide companies in their journey toward best practices in capital procurement, but they will deliver their full value only if they are accompanied by the active management of key stakeholder relationships and an effective process for working across functions. Many companies have demonstrated that procurement isn’t just another administrative process; it is a driver of value. The positive results that these companies have achieved have set a high bar for others to follow if they wish to reap the full benefits of a best-practice capital-procurement function.

Senior Advisor, Sr. Partner Emeritus

Managing Director & Senior Partner

Managing Director & Senior Partner; Chair, EMESA

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Top 20 Project Management Case Studies [With Examples]

Project management case study analyses showcase and compare real-life project management processes and systems scenarios. These studies shed light on the common challenges that project managers encounter on a daily basis. This helps project managers develop effective strategies, overcome obstacles, and achieve successful results. 

By leveraging project management case studies , organisations can optimise their operations by providing insights into the most effective approaches. With effective implementation of these case studies, strategies, and methodologies, ensuring successful project completion is achievable.

Criteria for Selection of Top 20 Case Studies

The top 20 case studies are selected based on significance, impact, challenges, project management strategies, and overall success. They provide diverse insights and lessons for project managers and organisations.

1. The Sydney Opera House Project

The Sydney Opera House Project is an iconic example of project management case studies as it faced multiple challenges during its construction phase. Despite facing leadership changes, budget overruns, and design failures, the project persevered and was completed in 1973, a decade later than planned. The Opera House stands as a symbol of perseverance and successful project management in the face of humankind.

2. The Airbus A380 Project

The Airbus A380 Project is a project management case study showcasing the challenges encountered during developing and producing the world’s largest commercial aircraft. The project experienced massive delays and impacted costs of more than $6 billion, with several issues arising from the manufacturing and delivery process, outsourcing, and project coordination. 

However, the Airbus A380 was successfully launched through carefully planned project management strategies, delivering a world-class aircraft that met customer expectations.

3. The Panama Canal Expansion Project 

The Panama Canal Expansion Project serves as a compelling case study, illustrating the management’s encounters in expanding the capacity of the Panama Canal. The project included multiple stakeholders, technological innovations, environmental concerns, and safety challenges. 

4. The Boston Central Artery/Tunnel Project

The Boston Central Artery/Tunnel Project serves as a project management case study of a large-scale underground tunnel construction project. It successfully addressed traffic congestion and was completed in 2007. The project was completed in 2007, with numerous hurdles delaying progress like complexity, technology failure, ballooning budgets, media scrutiny, etc.

5. The London 2012 Olympics Project

The London 2012 Olympics Project stands as a successful project management case study, showcasing the management of a large-scale international sporting event. This project involved the construction of a new sports infrastructure, event logistics and security concerns. The project was successfully accomplished, delivering a world-class event that captivated the audience.

6. The Hoover Dam Bypass Project

The Hoover Dam Bypass Project was a construction project in the United States of America that intended to alleviate traffic from the Hoover Dam by building a new bridge. Completed in 2010, the bridge spans across the Colorado River, connecting Arizona and Nevada and offers a safer and more efficient route for motorists.

7. The Golden Gate Bridge Seismic Retrofit Project

The Golden Gate Bridge Seismic Retrofit Project is a case study example constructed in San Francisco, California. Its objective was to enhance the bridge’s resilience against earthquakes and aftershocks. Completed in 2012, the project included the installation of shock absorbers and other seismic upgrades to ensure the bridge’s safety and functionality in the event of a major earthquake.

8. The Hong Kong-Zhuhai-Macau Bridge Project

The Hong Kong-Zhuhai-Macau Bridge Project is a massive case study that intends to connect Hong Kong, Zhuhai and Macau with a bridge-tunnel system of 55 kilometres. Completed in 2018, the project required massive funds, investments and innovative engineering solutions, providing a new transport link and boosting regional connectivity.

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9. The Panama Papers Investigation Project

The Panama Papers Investigation Project is a global case study of journalistic investigations into offshore tax havens. It involved leaked documents from Mossack Fonseca, a Panamanian law firm. Coordinated by the International Consortium of Investigative Journalists, the project resulted in major political and financial repercussions worldwide, garnering widespread media attention.

10. The Apple iPhone Development Project

The Apple iPhone Development Project started in 2004, aiming to create a groundbreaking mobile device. In 2007, the iPhone transformed the industry with its innovative touchscreen interface, sleek design, and advanced features. This project involved significant research, development, marketing, and supply chain management investments.

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11. The Ford Pinto Design and Launch Project

The Ford Pinto Design and Launch Project was a developmental project intended to create an affordable, fuel-efficient subcompact car. Launched in 1971, because of its fuel tank design, it became infamous for safety issues. The project was rigged for ethical and safety concerns, lawsuits, and recalls.

12. The Deepwater Horizon Oil Spill Response Project

The Deepwater Horizon Oil Spill Response Project was a response to the largest oil spill in US history, caused by an offshore drilling rig explosion in 2010. This crisis response project utilised a waterfall project management approach, where the project team followed a pattern of planning, executing, monitoring, and closing phases. 

13. The NASA Challenger Space Shuttle Disaster Project

  The NASA Challenger Disaster Project was a tragic space exploration mission in 1986, resulting in the loss of all seven crew members. Extensive investigations revealed design and safety flaws as the cause. This disaster prompted NASA to address decision-making processes and improve safety cultures.

14. The Three Gorges Dam Project

  The Three Gorges Dam Project was a large-scale infrastructure project developed in China that aimed to build the world’s largest hydroelectric dam on the Yangtze River. Completed in 2012, it encountered environmental, social, and engineering challenges. The dam currently offers power generation, flood control, and improved navigation, but it has also resulted in ecological and cultural consequences.

15. The Big Dig Project in Boston

The Big Dig Project was a transportation infrastructure project in Boston, Massachusetts, intended to replace an old elevated highway with a newer tunnel system. Completed in 2007, it serves as one of the most complex and costly construction endeavours in US history. Despite facing many delays, cost overruns and engineering challenges, the project successfully improved traffic flow and urban aesthetics but also resulted in accidents, lawsuits, and financial burdens.

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16. The Uber Disruptive Business Model Project

  The Uber Disruptive Business Model Project was a startup that introduced a new ride business model that disrupted the taxi-cab industry by connecting riders with drivers via a mobile app. Launched in 2010, this project required innovative technology, marketing and regulatory strategies and faced legal actions and ethical challenges related to labour, safety, and competition. Uber has since then dominated the market with its ride-sharing business plan.

17. The Netflix Original Content Development Project

The Netflix Original Content Development Project was an initiative created to launch its original content for its platform. This launch by the online streaming giant in 2012 was a huge success for the company. The project required huge investments in content creation, distribution and marketing and resulted in award-winning shows and films that redefined the entire entertainment industry’s business model.

18. The Tesla Electric Car Project

The Tesla Electric Car Project was a revolutionary project that aimed to compete for its electric vehicles with gasoline-powered vehicles. The project required a strong project management plan that incorporated innovation, sustainability, and stakeholder engagement, resulting in the successful launch of the Tesla Roadster in 2008 and subsequent models. Tesla has one-handedly revolutionised the entire automobile industry on its own. 

19. The Johnson & Johnson Tylenol Crisis Management Project:

The Johnson & Johnson Tylenol Crisis Management Project was a case study in crisis management in 1982. The project required quick and effective decision-making skills, stakeholder communication, and ethical leadership in response to the tampering of Tylenol capsules that led to deaths. 

20. The Airbnb Online Marketplace Platform Project  

The Airbnb Online Marketplace Platform Project was a startup that created an online platform which connected travellers with hosts offering short-term rental accommodations in flights. The project required innovative technology, user experience design and stakeholder management. Airbnb’s success has led to the disruption of the hospitality industry and inspired many other project case study examples of sharing economy platforms.

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Future developments in project management.

Future developments in project management include all the insights on the increased use of artificial intelligence, agile methodologies, hybrid project management approaches, and emphasis on sustainability and social responsibility, along with many more developing ideas that will address the evolving market innovations. 

Key Takeaways from the Case Studies

The project management case study examples illustrate real-life examples and the importance of project management in achieving project success. The cases show the use of innovative technologies, tools, techniques, stakeholder engagement, crisis management, and agile methodologies. 

Project Management also highlights the role of ethical leadership and social responsibility in project management. To learn more and more about case studies, upGrad, India’s leading education platform, has offered an Advanced General Management Program from IMT Ghaziabad that will equip you with in-demand management skills to keep up with the changing trends!

Keerthi Shivakumar

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Frequently Asked Questions (FAQs)

Project Management is extensive planning, executing, monitoring and closing of a project before its deadline. Project management ensures accuracy and efficiency across all organs of a project, right from its inception to its completion.

Project Management case studies are real-life examples of projects to put an insight into all the tools, techniques and methodologies it provides.

The role of a project manager is to ensure that all day-to-day responsibilities are being met by the resources deployed in a certain project. They have the authority to manage as well as lead the functioning members as well.

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Top 40 Most Popular Case Studies of 2021

Two cases about Hertz claimed top spots in 2021's Top 40 Most Popular Case Studies

Two cases on the uses of debt and equity at Hertz claimed top spots in the CRDT’s (Case Research and Development Team) 2021 top 40 review of cases.

Hertz (A) took the top spot. The case details the financial structure of the rental car company through the end of 2019. Hertz (B), which ranked third in CRDT’s list, describes the company’s struggles during the early part of the COVID pandemic and its eventual need to enter Chapter 11 bankruptcy. 

The success of the Hertz cases was unprecedented for the top 40 list. Usually, cases take a number of years to gain popularity, but the Hertz cases claimed top spots in their first year of release. Hertz (A) also became the first ‘cooked’ case to top the annual review, as all of the other winners had been web-based ‘raw’ cases.

Besides introducing students to the complicated financing required to maintain an enormous fleet of cars, the Hertz cases also expanded the diversity of case protagonists. Kathyrn Marinello was the CEO of Hertz during this period and the CFO, Jamere Jackson is black.

Sandwiched between the two Hertz cases, Coffee 2016, a perennial best seller, finished second. “Glory, Glory, Man United!” a case about an English football team’s IPO made a surprise move to number four.  Cases on search fund boards, the future of malls,  Norway’s Sovereign Wealth fund, Prodigy Finance, the Mayo Clinic, and Cadbury rounded out the top ten.

Other year-end data for 2021 showed:

• Online “raw” case usage remained steady as compared to 2020 with over 35K users from 170 countries and all 50 U.S. states interacting with 196 cases.
• Fifty four percent of raw case users came from outside the U.S..
• The Yale School of Management (SOM) case study directory pages received over 160K page views from 177 countries with approximately a third originating in India followed by the U.S. and the Philippines.
• Twenty-six of the cases in the list are raw cases.
• A third of the cases feature a woman protagonist.
• Orders for Yale SOM case studies increased by almost 50% compared to 2020.
• The top 40 cases were supervised by 19 different Yale SOM faculty members, several supervising multiple cases.

CRDT compiled the Top 40 list by combining data from its case store, Google Analytics, and other measures of interest and adoption.

All of this year’s Top 40 cases are available for purchase from the Yale Management Media store .

And the Top 40 cases studies of 2021 are:

1.   Hertz Global Holdings (A): Uses of Debt and Equity

2.   Coffee 2016

3.   Hertz Global Holdings (B): Uses of Debt and Equity 2020

4.   Glory, Glory Man United!

5.   Search Fund Company Boards: How CEOs Can Build Boards to Help Them Thrive

6.   The Future of Malls: Was Decline Inevitable?

7.   Strategy for Norway's Pension Fund Global

8.   Prodigy Finance

9.   Design at Mayo

10. Cadbury

11. City Hospital Emergency Room

13. Volkswagen

14. Marina Bay Sands

15. Shake Shack IPO

16. Mastercard

17. Netflix

18. Ant Financial

19. AXA: Creating the New CR Metrics

20. IBM Corporate Service Corps

21. Business Leadership in South Africa's 1994 Reforms

22. Alternative Meat Industry

23. Children's Premier

24. Khalil Tawil and Umi (A)

25. Palm Oil 2016

26. Teach For All: Designing a Global Network

27. What's Next? Search Fund Entrepreneurs Reflect on Life After Exit

28. Searching for a Search Fund Structure: A Student Takes a Tour of Various Options

30. Project Sammaan

31. Commonfund ESG

32. Polaroid

33. Connecticut Green Bank 2018: After the Raid

34. FieldFresh Foods

35. The Alibaba Group

36. 360 State Street: Real Options

37. Herman Miller

38. AgBiome

39. Nathan Cummings Foundation

40. Toyota 2010

Wednesday, June 05, 2019

• Labels: Case Studies , Project Failure

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Top 15 Project Management Case Studies with Examples

Home Blog Project Management Top 15 Project Management Case Studies with Examples

Having worked for more than 9 years in the dynamic field of project management, I would strongly refer to real-world case studies as invaluable resources for both budding and experienced professionals. These case studies provide critical insights into the challenges and triumphs encountered in various industries, illustrating the application of project management principles in practical scenarios.   I have curated the case studies as a part of this article in such a way that it delves into a selection of compelling project management case studies, ranging from the healthcare sector to infrastructure and technology. Each case study is a testament to the strategic planning, adaptability, and innovative problem-solving skills necessary in today's fast-paced business environment. These narratives not only highlight past successes but also offer guidance for future projects, making them essential tools for anyone eager to excel in project management.

What is Case Study?

A case study refers to an in-depth examination of a specific case within the real-world context. It is a piece of content that sheds light on the challenges faced, solutions adopted, and the overall outcomes of a project. To understand project management case studies, it is important to first define what a project is . A project is a temporary endeavor with a defined beginning and end, aimed at achieving a specific goal or objective. Case studies are generally used by businesses during the proposal phase. However, they are also displayed on the websites of companies to provide prospects with a glance at the capabilities of the brands. It can even serve as an effective tool for lead generation. In simple words, case studies are stories that tell the target audience about the measures and strategies that the organization adopted to become successful.

What is Project Management Case Study?

A project management case study is a piece of content that highlights a project successfully managed by the organization. It showcases the challenges that the organization faced, the solutions adopted, and the final results. Keep reading in order to explore examples of successful project management case studies.

Top 15 Project Management Case Studies and Examples 

Are you looking for some examples of PMP case studies? If yes, here are some of the best examples you can explore. Let’s dive in!

1. Mavenlink Helps Improve Utilization Rates by 15% for BTM Global

The case study is all about how Mavenlink helped BTM Global Consulting to save hours of work and enhance utilization with resource management technology. BTM Global Consulting offers system development and integration services to diverse clients. The challenges that the company faced were that tools like Netsuite OpenAir and Excel spreadsheets were not able to meet the customization needs as the company grew. It impacted their overall productivity.

In order to overcome the challenge, the solution they adopted was to switch to Mavenlink. The result was that it increased the utilization of the company by 10% and enhanced project manager utilization by 15%. It also reduced resource allocation work from 4 hours to just 10 minutes.

2. Boncom Reduces Billing Rate Errors by 100% With Mavenlink

Boncom is an advertising agency that collaborates with different purpose driven brands to create goods worldwide. The challenge was that the company relied on several-point solutions for delivering client-facing projects. However, the solutions failed to offer the required operational functionality. An ideal solution for Boncom was to adopt Mavenlink. The result was that the billing rate error got reduced by 100%. Accurate forecasting became possible for Boncom, and the company could generate reports in much less time.

3. whyaye! Reaches 80% Billable Utilization with Mavenlink

whyaye is a digital transformation consultancy delivering IT transformation solutions to businesses operating in diverse sectors. The challenge was that whyaye used to manage resources and projects using tools such as emails, PowerPoint, and Microsoft Excel. However, with the growth of the company, they were not able to access project data or gain insights for effective management of the projects . The ultimate solution to this challenge was to make a switch to Mavenlink. The result was an increase in the utilization by 6%, doubling of new clients, tripling of the company size, and seamless support through business growth.

4. Metova Increases Billable Utilization by 10% With Mavenlink

If you are looking for a project planning case study, Metova can be the right example. Metova is a technology firm, a Gold Partner of Microsoft, and an advanced consulting partner of AWS. The challenge was that the company handled several projects at a time. However, its heavy dependence on tools like Google Sheets limited the growth capabilities of the organization. So, the company looked for a solution and switched to Mavenlink. The result was that it was able to increase its billable utilization by 10%, increase its portfolio visibility, and standardize its project management process.

5. Appetize Doubles Length of Forecasting Outlook with Mavenlink

Appetize is one of the leading cloud-based points of sale (POS), enterprise management, and digital ordering platform that is trusted by a number of businesses. The challenge of the company was that its legacy project tracking systems were not able to meet the growing needs of the company. They experienced growth and manual data analysis challenges. The solution they found was to switch to Mavenlink. The result was an increase in the forecast horizon to 12 weeks, support for effective companywide scaling, easy management of over 40 major projects, and Salesforce integration for project implementation.

6. RSM Improves Client Satisfaction and Global Business Processes with Mavenlink

RSM is a tax, audit, and consulting company that provides a wide array of professional services to clients in Canada and the United States. The challenge of the company was that its legacy system lacked the necessary features required to support their work- and time-intensive projects and delivered insights relating to the project trends. An ideal solution to this challenge was to switch to Mavenlink. The result was better to risk mitigation in tax compliance, improved client-team communication, templatized project creation, and better use of the KPIs and project status.

7. CORE Business Technologies Increases Billable Utilization by 35% with Mavenlink

CORE Business Technologies is a reputed single-source vendor self-service, in-person, and back-office processing to the clients. It offers SaaS-based payment solutions to clients. The challenge faced by the company was that its tools like spreadsheets, Zoho, and Microsoft Project led to a hectic work schedule owing to a huge number of disconnected systems. The solution to the challenge was to switch to Mavenlink. The result was the enhancement of team productivity by 50%, time entry compliance by 100%, and enhancement of the billable utilization rate by 35%.

8. Client Success: Health Catalyst Improves Business Processes and Increases Consistency in Project Delivery with Mavenlink

Health Catalyst is a company that delivers data and analytics services and technology to different healthcare organizations. The firm provides assistance to technicians and clinicians in the healthcare sector. The challenge of the company was that the tools like Intacct and spreadsheets that is used for project management were not able to provide the required data insights and clarity for better project management. It also limited effective resource management. The solution was to embrace Mavenlink. The result was better resource forecasting, enhanced interdepartmental communication, consistency in project delivery, and better resource data insights .

9. Client Success: Optimus SBR Improves Forecasting Horizon by 50% with Mavenlink

Optimus SBR is a leading professional service provider in North America. It offers the best results to companies operating in diverse sectors, including healthcare, energy, transportation, financial services, and more. The challenge was that legacy software tools that the firm used gave rise to project management issues. The company was not able to get a real-time revenue forecast or gain insights into its future financial performance. The solution that the company adopted was to switch to Mavenlink. The result was better data-driven hiring decisions, efficient delivery of remote work, and enhancement of the forecasting horizon by 50%.

10. Client Success: PlainJoe Studios Increases Projects Closing Within Budget by 50% With Mavenlink

PlainJoe Studios is an experimental design studio that focuses on digitally immersive and strategic storytelling. The company has a team of strategists, architects, and problem solvers to create value for the clients. The challenge of the company was that the manual processing of the company affected its ability to grow and manage the diverse project effectively. They lacked clarity about their project needs and profitability. The solution to deal with the challenge was to switch to Mavenlink. The result was an enhancement in the billing rates by 15%, better project closing within budget by 50%, better data insights for the success of different projects, and a faster shift to remote work.

11. Client Success: RPI Consultants Decreases Admin Time by 20% With Mavenlink

If you are looking for an example of one of the best software project management case studies, then RPI Consultants can be the ideal one. RPI Consultants offer expert project leadership and software consulting services for enterprise-level implementation of solutions and products. The challenge was that the task management solutions adopted by the company gave rise to a number of complications. It resulted in poor interdepartmental transparency and time-consuming data entry. The ultimate solution that the company embraced was to switch to Mavenlink. The result was a rise in the utilization rate by 5%, lowing of admin time by 20%, better forecasting and resource management, and a single source for gaining insights into the project data.

12. Client Success: CBI's PMO Increases Billable Utilization By 30% With Mavenlink

CBI is a company that is focused on protecting the reputations, data, and brands of its clients. The challenge that the company faced was that the solutions used were unable to meet the growing needs of the organization. The systems were outdated, data sharing was not possible, and time tracking was inconsistent. The solution to the challenge was to switch to Mavenlink. The result was better interdepartmental alignment, enhancement of time tracking to support business growth, an increase in the billable utilization rate by 30%, and detailed insights for a greater success of the projects.

13. Client Success: Butterfly Increases Billable Time by 20% with Mavenlink

Butterfly is a leading digital agency that provides digital strategy, website design and development services, and ongoing support to businesses across Australia. The challenge was that the different legacy systems used by the agency limited its capability of effective project management and reporting. The systems were time consuming and cumbersome. In order to deal with the challenge, the solution was to make a switch to Mavenlink. The result was the enhancement of billable time by 20%, fast reporting insights, enhancement of productive utilization by 16%, and better Jira integration.

14. Client Success: TeleTracking Increases Billable Utilization by 37% With Mavenlink

TeleTracking Technologies is a leading provider of patient flow automation solutions to various hospitals in the healthcare sector. The challenge of the company was that it used different systems such as Microsoft Excel, Sharepoint, MS Project, Jira, and Netsuite. The use of a variety of solutions created a number of challenges for the company. It had poor forecasting capability, an insufficient time tracking process, and unclear resource utilization. The solution was to switch to Mavenlink. The result was the enhancement of time tracking compliance by 100%, rise in hours to date by 18%, and enhancement of billable utilization by 37%.

15. Client Success: Taylors Improves Utilization Rates by 15% with Mavenlink

This is a perfect example of a construction project management case study. Taylor Development Strategists is a leading civil engineering and urban planning organization in Australia. The challenge that the company faced was that the systems that it used were not able to support the growth of the business. There were a lot of inefficiencies and limitations. The solution to the challenge was to switch to Mavenlink. The result was better global collaboration, an increase in the utilization rate by 15%, consistency of timesheet entry, and in-depth insights relating to utilization and project targets.

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Start Creating Your Project Management Case Study

Not that you have a detailed idea about project management case studies, it is time to prepare your own. When doing the project management case study exercise, make sure to focus on covering all the important elements. Clearly stating the challenges and the solutions adopted by the company is important. If you want to get better at project management, getting a PMP Certification can be beneficial.

Case Study Best Practices and Tips 

Want to prepare a project management case study? Here are some tips that can help. 

• Involve your clients in the preparation of the case study. 
• Make use of graphs and data. 
• Mix images, texts, graphs, and whitespace effectively.

Project Management Case Studies Examples

Hospital el pilar improves patient care with implementing disciplined agile.

If you are looking for an example of one of the best hospital related project management case studies, then Hospital El Pilar can be the ideal one. Hospital El Pilar is a private hospital in Guatemala City, Guatemala, that provides comprehensive care to patients in various medical specialties. The challenge was that the hospital’s application development team faced several obstacles in managing and delivering projects, such as unclear priorities, a lack of visibility, little interaction with users, and competing demands. The solution that the team adopted was to use Disciplined Agile® (DA™), a flexible and pragmatic approach to project management that optimizes the way of working (WoW). The result was improved project outcomes, increased user satisfaction, greater transparency, and more trust from stakeholders and customers.

British Columbia’s Ministry of Technology and Infrastructure (MoTI) gets its principal corridor for transportation up in 35 days

Reconnecting Roads After Massive Flooding (2022) is a case study of how the British Columbia Ministry of Transportation and Infrastructure (MoTI) used a project management approach based on the PMBOK® Guide to restore critical routes after a catastrophic weather event. It is one of the examples of successful project management case studies you can look into. The challenge was that an atmospheric river caused severe flooding, landslides, and bridge collapses, cutting off the lower mainland from the rest of Canada2. The solution was to prioritize the reopening of Highway 5, the principal corridor for transportation of goods and people, by creating scopes, work breakdown structures, and schedules for each site3. The result was that Highway 5 was reopened to commercial traffic in 35 days, despite additional weather challenges and risks4. The construction project management case study we discussed demonstrated the benefits of flexibility, collaboration, and communication in emergency response.

Case Study Template 

To create a well-crafted and highly informative case study template in the realms of project management, you should start by providing a brief overview of the client's company, focusing on its industry, scale, and specific challenges. Follow with a detailed section on the challenge, emphasizing the unique aspects of the project and obstacles faced. Next, you might want to describe the solution implemented, detailing the strategies, methodologies, and tools used. Then, you would need to present the results, quantifying improvements and highlighting objectives achieved. Finally, please conclude the case study with a summary, encapsulating key takeaways and emphasizing the project's success and its implications for future endeavors. By following this structure, you can present a comprehensive yet concise analysis that is ideal for showcasing project management expertise and insights. You can also refer to the template for crafting a better case study on project management – Template for writing case studies.

By now, you must have gained a comprehensive knowledge of preparing a project management case study. This article elaborately explains the significance of real life project management case studies as vital tools for demonstrating a company's expertise in handling complex projects. These case studies, showcasing real-world scenarios, serve as compelling evidence of a firm's capability to navigate challenges and implement effective solutions, thereby boosting confidence in potential clients and partners. They are not only a reflection of past successes but also a lighthouse guiding future project endeavors in the discipline of project management within the fields of construction, pharmacy, technology and finance, highlighting the importance of strategic planning, innovation, and adaptability in project management. If you are aspiring to excel in this field, understanding these case studies is invaluable. However, you would also need to learn from project management failures case studies which would provide a roadmap to mastering the art of project management in today's dynamic business landscape.

Frequently Asked Questions (FAQs) 

1. how do you write a project management case study.

In order to write a project management case study, keep everything brief but mention everything in detail. Make sure to write it with clarity and include graphs and images. 

2. Why is a case study important in project identification?

It is important to highlight the story of the success of your company and your clients.

3. What are case studies in project management?

A case study in project management is the success story of how effectively a company was able to handle a specific project of the client.

4. What should a project case study include?

A project study must include information about the client, how your company helped the client in resolving a problem, and the results.

5. Which are the best-case studies on project management?

The best-case studies on project management have been listed above. It includes BTM Global, Butterfly, Boncom, and more.

Kevin D.Davis

Kevin D. Davis is a seasoned and results-driven Program/Project Management Professional with a Master's Certificate in Advanced Project Management. With expertise in leading multi-million dollar projects, strategic planning, and sales operations, Kevin excels in maximizing solutions and building business cases. He possesses a deep understanding of methodologies such as PMBOK, Lean Six Sigma, and TQM to achieve business/technology alignment. With over 100 instructional training sessions and extensive experience as a PMP Exam Prep Instructor at KnowledgeHut, Kevin has a proven track record in project management training and consulting. His expertise has helped in driving successful project outcomes and fostering organizational growth.

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How to Write a Business Case (Template Included)

Table of Contents

What is a business case, how to write a business case, business case template, watch our business case training video, key elements of a business case, how projectmanager helps with your business case.

A business case is a project management document that explains how the benefits of a project overweigh its costs and why it should be executed. Business cases are prepared during the project initiation phase and their purpose is to include all the project’s objectives, costs and benefits to convince stakeholders of its value.

A business case is an important project document to prove to your client, customer or stakeholder that the project proposal you’re pitching is a sound investment. Below, we illustrate the steps to writing one that will sway them.

The need for a business case is that it collects the financial appraisal, proposal, strategy and marketing plan in one document and offers a full look at how the project will benefit the organization. Once your business case is approved by the project stakeholders, you can begin the project planning phase.

Projects fail without having a solid business case to rest on, as this project document is the base for the project charter and project plan. But if a project business case is not anchored to reality, and doesn’t address a need that aligns with the larger business objectives of the organization, then it is irrelevant.

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Use this free Business Case Template for Word to manage your projects better.

The research you’ll need to create a strong business case is the why, what, how and who of your project. This must be clearly communicated. The elements of your business case will address the why but in greater detail. Think of the business case as a document that is created during the project initiation phase but will be used as a reference throughout the project life cycle.

Whether you’re starting a new project or mid-way through one, take time to write up a business case to justify the project expenditure by identifying the business benefits your project will deliver and that your stakeholders are most interested in reaping from the work. The following four steps will show you how to write a business case.

Step 1: Identify the Business Problem

Projects aren’t created for projects’ sake. They should always be aligned with business goals . Usually, they’re initiated to solve a specific business problem or create a business opportunity.

You should “Lead with the need.” Your first job is to figure out what that problem or opportunity is, describe it, find out where it comes from and then address the time frame needed to deal with it.

This can be a simple statement but is best articulated with some research into the economic climate and the competitive landscape to justify the timing of the project.

Step 2: Identify the Alternative Solutions

How do you know whether the project you’re undertaking is the best possible solution to the problem defined above? Naturally, prioritizing projects is hard, and the path to success is not paved with unfounded assumptions.

One way to narrow down the focus to make the right solution clear is to follow these six steps (after the relevant research, of course):

• Note the alternative solutions.
• For each solution, quantify its benefits.
• Also, forecast the costs involved in each solution.
• Then figure out its feasibility .
• Discern the risks and issues associated with each solution.
• Finally, document all this in your business case.

Step 3: Recommend a Preferred Solution

You’ll next need to rank the solutions, but before doing that it’s best to set up criteria, maybe have a scoring mechanism such as a decision matrix to help you prioritize the solutions to best choose the right one.

Some methodologies you can apply include:

• Depending on the solution’s cost and benefit , give it a score of 1-10.
• Base your score on what’s important to you.
• Add more complexity to your ranking to cover all bases.

Regardless of your approach, once you’ve added up your numbers, the best solution to your problem will become evident. Again, you’ll want to have this process also documented in your business case.

Step 4: Describe the Implementation Approach

So, you’ve identified your business problem or opportunity and how to reach it, now you have to convince your stakeholders that you’re right and have the best way to implement a process to achieve your goals. That’s why documentation is so important; it offers a practical path to solve the core problem you identified.

Now, it’s not just an exercise to appease senior leadership. Who knows what you might uncover in the research you put into exploring the underlying problem and determining alternative solutions? You might save the organization millions with an alternate solution than the one initially proposed. When you put in the work on a strong business case, you’re able to get your sponsors or organizational leadership on board with you and have a clear vision as to how to ensure the delivery of the business benefits they expect.

Our business case template for Word is the perfect tool to start writing a business case. It has 9 key business case areas you can customize as needed. Download the template for free and follow the steps below to create a great business case for all your projects.

One of the key steps to starting a business case is to have a business case checklist. The following is a detailed outline to follow when developing your business case. You can choose which of these elements are the most relevant to your project stakeholders and add them to our business case template. Then once your business case is approved, start managing your projects with a robust project management software such as ProjectManager.

1. Executive Summary

The executive summary is a short version of each section of your business case. It’s used to give stakeholders a quick overview of your project.

2. Project Definition

This section is meant to provide general information about your projects, such as the business objectives that will be achieved and the project plan outline.

3. Vision, Goals and Objectives

First, you have to figure out what you’re trying to do and what is the problem you want to solve. You’ll need to define your project vision, goals and objectives. This will help you shape your project scope and identify project deliverables.

4. Project Scope

The project scope determines all the tasks and deliverables that will be executed in your project to reach your business objectives.

5. Background Information

Here you can provide a context for your project, explaining the problem that it’s meant to solve, and how it aligns with your organization’s vision and strategic plan.

6. Success Criteria and Stakeholder Requirements

Depending on what kind of project you’re working on, the quality requirements will differ, but they are critical to the project’s success. Collect all of them, figure out what determines if you’ve successfully met them and report on the results .

7. Project Plan

It’s time to create the project plan. Figure out the tasks you’ll have to take to get the project done. You can use a work breakdown structure template  to make sure you are through. Once you have all the tasks collected, estimate how long it will take to complete each one.

Project management software makes creating a project plan significantly easier. ProjectManager can upload your work breakdown structure template and all your tasks are populated in our tool. You can organize them according to your production cycle with our kanban board view, or use our Gantt chart view to create a project schedule.

8. Project Budget

Your budget is an estimate of everything in your project plan and what it will cost to complete the project over the scheduled time allotted.

9. Project Schedule

Make a timeline for the project by estimating how long it will take to get each task completed. For a more impactful project schedule , use a tool to make a Gantt chart, and print it out. This will provide that extra flourish of data visualization and skill that Excel sheets lack.

10. Project Governance

Project governance refers to all the project management rules and procedures that apply to your project. For example, it defines the roles and responsibilities of the project team members and the framework for decision-making.

11. Communication Plan

Have milestones for check-ins and status updates, as well as determine how stakeholders will stay aware of the progress over the project life cycle.

12. Progress Reports

Have a plan in place to monitor and track your progress during the project to compare planned to actual progress. There are project tracking tools that can help you monitor progress and performance.

Again, using a project management tool improves your ability to see what’s happening in your project. ProjectManager has tracking tools like dashboards and status reports that give you a high-level view and more detail, respectively. Unlike light-weight apps that make you set up a dashboard, ours is embedded in the tool. Better still, our cloud-based software gives you real-time data for more insightful decision-making. Also, get reports on more than just status updates, but timesheets, workload, portfolio status and much more, all with just one click. Then filter the reports and share them with stakeholders to keep them updated.

13. Financial Appraisal

This is a very important section of your business case because this is where you explain how the financial benefits outweigh the project costs . Compare the financial costs and benefits of your project. You can do this by doing a sensitivity analysis and a cost-benefit analysis.

14. Market Assessment

Research your market, competitors and industry, to find opportunities and threats

15. Competitor Analysis

Identify direct and indirect competitors and do an assessment of their products, strengths, competitive advantages and their business strategy.

16. SWOT Analysis

A SWOT analysis helps you identify your organization’s strengths, weaknesses, opportunities and threats. The strengths and weaknesses are internal, while the opportunities and threats are external.

17. Marketing Strategy

Describe your product, distribution channels, pricing, target customers among other aspects of your marketing plan or strategy.

18. Risk Assessment

There are many risk categories that can impact your project. The first step to mitigating them is to identify and analyze the risks associated with your project activities.

ProjectManager , an award-winning project management software, can collect and assemble all the various data you’ll be collecting, and then easily share it both with your team and project sponsors.

Once you have a spreadsheet with all your tasks listed, you can import it into our software. Then it’s instantly populated into a Gantt chart . Simply set the duration for each of the tasks, add any dependencies, and your project is now spread across a timeline. You can set milestones, but there is so much more you can do.

You have a project plan now, and from the online Gantt chart, you can assign team members to tasks. Then they can comment directly on the tasks they’re working on, adding as many documents and images as needed, fostering a collaborative environment. You can track their progress and change task durations as needed by dragging and dropping the start and end dates.

But that’s only a taste of what ProjectManager offers. We have kanban boards that visualize your workflow and a real-time dashboard that tracks six project metrics for the most accurate view of your project possible.

Try ProjectManager and see for yourself with this 30-day free trial .

If you want more business case advice, take a moment to watch Jennifer Bridges, PMP, in this short training video. She explains the steps you have to take in order to write a good business case.

Here’s a screenshot for your reference.

Transcription:

Today we’re talking about how to write a business case. Well, over the past few years, we’ve seen the market, or maybe organizations, companies or even projects, move away from doing business cases. But, these days, companies, organizations, and those same projects are scrutinizing the investments and they’re really seeking a rate of return.

So now, think of the business case as your opportunity to package your project, your idea, your opportunity, and show what it means and what the benefits are and how other people can benefit.

We want to take a look today to see what’s in the business case and how to write one. I want to be clear that when you look for information on a business case, it’s not a briefcase.

Someone called the other day and they were confused because they were looking for something, and they kept pulling up briefcases. That’s not what we’re talking about today. What we’re talking about are business cases, and they include information about your strategies, about your goals. It is your business proposal. It has your business outline, your business strategy, and even your marketing plan.

Why Do You Need a Business Case?

And so, why is that so important today? Again, companies are seeking not only their project managers but their team members to have a better understanding of business and more of an idea business acumen. So this business case provides the justification for the proposed business change or plan. It outlines the allocation of capital that you may be seeking and the resources required to implement it. Then, it can be an action plan . It may just serve as a unified vision. And then it also provides the decision-makers with different options.

So let’s look more at the steps required to put these business cases together. There are four main steps. One, you want to research your market. Really look at what’s out there, where are the needs, where are the gaps that you can serve? Look at your competition. How are they approaching this, and how can you maybe provide some other alternatives?

You want to compare and finalize different approaches that you can use to go to market. Then you compile that data and you present strategies, your goals and other options to be considered.

And then you literally document it.

So what does the document look like? Well, there are templates out there today. The components vary, but these are the common ones. And then these are what I consider essential. So there’s the executive summary. This is just a summary of your company, what your management team may look like, a summary of your product and service and your market.

The business description gives a little bit more history about your company and the mission statement and really what your company is about and how this product or service fits in.

Then, you outline the details of the product or service that you’re looking to either expand or roll out or implement. You may even include in their patents may be that you have pending or other trademarks.

Then, you want to identify and lay out your marketing strategy. Like, how are you gonna take this to your customers? Are you going to have a brick-and-mortar store? Are you gonna do this online? And, what are your plans to take it to market?

You also want to include detailed information about your competitor analysis. How are they doing things? And, how are you planning on, I guess, beating your competition?

You also want to look at and identify your SWOT. And the SWOT is your strength. What are the strengths that you have in going to market? And where are the weaknesses? Maybe some of your gaps. And further, where are your opportunities and maybe threats that you need to plan for? Then the overview of the operation includes operational information like your production, even human resources, information about the day-to-day operations of your company.

And then, your financial plan includes your profit statement, your profit and loss, any of your financials, any collateral that you may have, and any kind of investments that you may be seeking.

So these are the components of your business case. This is why it’s so important. And if you need a tool that can help you manage and track this process, then sign up for our software now at ProjectManager .

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Capital projects - case study.

How do I prepare for a Case Study in Capital projects with BIG4?

Noting that most of my experience is engineering, and some of it is project management. 

Appreciate if you could share with me sample case studies.

Overview of answers

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That is a different type of interview, they won't use “strategy case interview" format for that interview. However, they may present you with an hypothetical situation and ask you technical questions on how you would approach things - to which you would answer based on your engineering knowledge and experience. I am pretty sure you've managed a construction budget before and are more qualified to answer those questions than anyone here.  I can help you extensively with fit and behavioral interview, which is critical, and to ensure you go there with the right mindset (even for the technical interview) - but to prepare for the technical interview you need to look into the job requirements (and expected experience) and do your own research, and ideally some networking as well.

Best reply, thank you!

This is indeed an interesting question which is probably relevant for quite a lot of users, so I am happy to provide my perspective on it:

• Generally speaking, I would advise you to prepare for Big 4 case studies as you would for any other consulting company , i.e. know and practice the process, practice mental/ written arithmetics, adapt to over-communication and over-structuring your thoughts aso.
• Still, considering that it seems to be a specialized role in a specific function, I would advise you to read about the matter at hand . Chances seem to be rather high that you are actually required to have at least basic knowledge about it.
• Moreover, I would advise you to refer to the official recruiting website of this type of companies and look up whether they also provide sample case studies that might give you a better idea of what they might be asking and what not.

In case you want a more detailed discussion on how to prepare for and solve any type of case study , please feel free to contact me  directly.

I hope this helps,

Prepare for the cases study interview as you would prepare for any other case study interview:

• Review cases available through PrepLounge (there are a number of cases connected to infrastructure investments there)
• Leverage casebooks with CAPEX cases that are available online (need some creativity with Google, etc.)
• Engage coach to practice cases and/or get a selection of cases tailored to your role

Feel free to PM me, one of the cases that I do with my students focuses on CAPEX (and those problems are almost always about profitability)

First of all, confirm with the company whether or not you can expect only Capital Project cases or if you need to be prepared for any case type.

Then, based on that either prepare for all case types or for just Capital Project case types. 

Regardless, do make sure to be well versed in as much Capital Project content as possible! Read cases and get cases from people around the topic. Additionally, I highly recommend you explore BCG Insights, McKinsey Insights, and the Big4 site and read through the articles they've published.

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Working Capital Management in Projects – Case Study on Indian Construction Companies “Working Capital Management in Projects – Case Study on Indian Construction Companies”

Related Papers

Conference Paper

Dr. Dimitrios D. Kantianis

The research aims at exploring the critical variables that affect public works contractors' working capital in the delivery of infrastructure projects. Effective financial management has long been recognized as the 'lifeblood' of construction contractors, especially during economic periods of recession. The main reason for insolvency in the built environment is the lack of working capital to support contractors' site operations. Therefore, it is vital to accurately predict the project working capital requirements at the pre-tender stage and closely monitor project cash-flow during the physical production process. The proposed methodology entails the development of a cash-flow/working capital calculation process based on spreadsheet modelling and the Gantt chart for the derivation of project disbursements S-curves, revenue step function curves, and maximum/net cash-flow profiles. The model is implemented to a recently delivered typical infrastructure project-the construction of a new peripheral highway reinforced concrete bridge-and a sensitivity analysis is conducted to reach useful conclusions concerning the significance in infrastructure working capital of the following variables examined: the retention percentage, the 'front-end rate loading' by the contractor, and the premium advance incentive by the owner. The lowest maximum working capital requirement results from the provision of an advance mobilization payment by the owner to the contractor at project start-up and the selection of the latest start times site work execution program. The herein presented study is expected to assist both researchers and practitioners operating within the public construction sector in decision-making towards more effective financial management of infrastructure projects.

Journal of Commerce & Accounting Research

Publishing India Group

Working-capital management is an important decision in financial management, playing a key role in a firm’s financial performance. For construction companies, working capital is all the more important due to the long project cycles they face. The present study examines the impact of working capital on profitability in the construction sector in Bangalore, India. The data for the study were collected from a sample of five major builders based in Bangalore, and pertains to a study period during 2006-11. The study contributes to the literature by using fixed-effects-panel-regression analysis rather than pooled regression, as the fixed-effects panel regression allows control for company-specific differences in profitability as well as for year-to-year differences in profitability for the industry as a whole. The results of the study suggest that construction companies should focus on two working-capital variables to maximize their profitability, viz. average collection period and accounts payable, both of which were found to have significant positive impact on profitability.

IRJET Journal

The Indian Construction Industry is a huge industry having a 9% share in GDP, also contributing as 2 nd highest employer among various other industries after the agricultural sector. According to a survey, only 16% of business owners are left with liquidity which would help their business last only for 3-4 months. About 479 infrastructure projects show cost overruns worth Rs. 4.4 trillion, each project worth more than 150 crores. The construction industry being such a vast and important industry for the nation's economy, it can be gauged from the fact that the slow down or failure of this industry will bring a halt to the nation's development. In order to identify the cause and mitigate them the present study is conducted to identify the factors affecting the construction cash flow. Various kinds of literature were reviewed which highlighted the fact that cash flow forecasting during the execution stage was lacking or might be not forecasted itself. Hence the present study is conducted to identify the factors affecting the construction cash flow. A questionnaire survey was conducted to identify the factors which were later tested for their reliability and also analysed by various Indexing methods like the Probabilistic Approach Method, and Frequency Index Method. Out of sub-factors identified under 7 different factorial heads, results showed that the top most factor affecting cash flow forecasting was cost overrun, time overrun, arbitration, faulty cash flow models, change in the financial position of clients, etc. The research concluded with the fact that the identified factors under different heads must be given most priority while forecasting cash flow and timely revision and identification of new factors plays an important role in having accuracy in projecting construction cash flow.

Dr Vinay Kandpal

For a successful working of a business organization fixed and current assets play a vital role as organization generally invests in these options. An attempt has been made in this paper to study the working capital components and the effect of working capital management policies on profitability of 10 Infrastructure companies. The paper also tries to study the correlation between liquidity, profitability and Profit before Tax (PBT) of selected Infrastructure companies. The study is based on secondary data collected from annual reports of different Infrastructure companies and PROWESS (CMIE Database) for the period 2007 to 2012. In this paper there is an application of correlation and regression analysis to identify the significant effects of Working capital management on the profitability. The Management of operating capital is indispensable as it might induce a direct impact on profitability and liquidity.

International Journal for Research in Applied Science and Engineering Technology -IJRASET

IJRASET Publication

This study of cash flow management and its various aspects such as cash flow analysis, cash flow forecasting and cash flow statement is performed. A questionnaire is prepared to identify the most affecting factors. A total 56 responses is collected from contractors and desired results are obtained and conclusions are made. The results of the questionnaire indicated that the majority of the contractors who encountered failures in their annual project contracts, attributable to poor cash flow management and forecasting, are those contractors who did not perform cash flow analysis prior to submitting bids for projects. The survey showed that in construction industry, material management plays an important role in cash flow management followed by procurement and inventory. The survey also shows that the major sources of capital are the credit, the company assets, the advance payment and the progress payment. Inventory management is the best suited example for cash flow management in a construction project.

Construction projects are well known for their complexity and ambiguity. These projects carry out higher risk than traditional ones because they entail high capital outlays and intricate site conditions. Poor financial management of these projects may lead to bankruptcy; therefore, effective cash flow management is essential. Although the peculiar characteristics of construction projects, the accuracy of cash flow forecasting has been a long lasting problem. The paper aims to discuss these issues. Many unforeseen factors affect the cash flow forecasting of construction projects. Therefore, the objective of the presented research in this paper is to examine the impact of these factors on construction industry's cash flow. Results show that the most significant factors are: Change of progress payment duration, Large retention percent, Change of labor and staff wages, Loan payment, Bank loan Interest rate, Relation with owner, Replacement of deflection work, Over and under measurement, Failure to subcontractor , Renting and buying equipment, Poor design, Inaccurate bid item, Weather condition, Number of claim. Keeping these factors and their impact in mind, some suggestions were given to make the cash flow effective. With all these suggestions, cash flow problems can be overcome to some extent and a construction industry can be saved from bankruptcy. These are some simple tips that can be easily implemented while making cash flow.

psrcentre.org

Nishant joshi

Abstract—Indian cement industry isthe second largest cement industry in the world. The paper attempts to examine the working capital trends on the basis of size of working capital, ratio of working capital to total assets, fitting trend line analysis, and correlation amongst ...

Emmanuel Akoi-Gyebi Adjei

International Journal of Advanced Science and Technology

Dr. Venkateswararao Podile

Optimum management of Working Capital is very much essential in any enterprise. This is very much essential to balance the trade-off between liquidity and profitability. This research work focuses on working capital structure in an Indian cement enterprise namely The Ramco Cements Limited. Popular Ramco group in India owns this Enterprise. It is a Chennai based Enterprise and its prime product is Port Land Cement. It's annual production is nearly 17 million tons. Ratios including CR (Current Ratio), QR (Quick Ratio) and SQR (Super Quick Ratio), GWCTR (Gross Working Capital Turnover Ratio), NWCTR (Net Working Capital Turnover Ratio), CTR (Cash Turnover Ratio), DTR (Debtor Turnover Ratio), ITR (Inventory Turnover Ratio) and ACP (Average Collection Period) were computed and results are interpreted. Chi-square test is used for confirming results.

Samuel Joe Ahorlley

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