Investment-Centric Project Management

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Advanced Strategies for Developing and Executing Successful Capital Projects
Steven Keays, M.A.Sc., P.Eng.
Hardcover, 6×9, 439 pages
ISBN: 978-1-60427-142-3
August 2017

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The persistent failure rates of complex industrial and large capital investment projects are a clear indication that traditional project management is not sufficient to deliver these types of project consistently and successfully. A new thought process needs to emerge.

Investment-Centric Project Management is a comprehensive methodology and management system for the controlled execution of complex industrial and capital projects that unifies an organization’s project resources into a single framework designed to prevent projects from failing and blowing budgets or schedules. This one-of-a-kind guide shows how to develop projects into profitably performing assets that yield valuable sustained ROI to its shareholders over its economic life, and how to execute projects to achieve speed to market, cost and risk containment, security of supply, and certainty of quality.

Written by a leading expert in the aerospace, defense, manufacturing and oil and gas industries, this advanced reference offers project owners and developers alike a road map to predictable and repeatable project success, and a guarantee of future investment returns from their assets.

Key Features

  • Recasts project management as a corporate endeavor structured and executed along three axes: the organization—which manages the application of knowledge, skills, tools, and techniques to project activities; the business—which manages the money; and the relationship nexus—which manages the personal and functional relationships that make or break a project
  • Makes the case that if an industrial or large capital project is worth the risk, all spending decisions must be to serve the asset’s future performance, and that a budget needs to be realistic and cognizant of the asset’s intrinsic value
  • Replaces the constraint trifecta of cost, quality, and time with the constraint diamond of cost, time, revenue, performance, expenses, and profits, with decisions made on the basis of valunomy rather than cost effectiveness
  • Describes a project ecosystem as a glass onion with eight layers that must be penetrated to achieve project success, highlights the importance of leadership to success or failure, and recommends what archetype is best suited to various types of projects and situations
  • Covers advanced strategies and tactics for communications, interface management, risk management, and developing team hierarchies based on the physical configuration of the asset
  • Presents a comprehensive system of performance assessment metrics beyond the usual KPIs to measure what matters across time, between players, and throughout execution phases, and argues that effective control is possible only through progress metrics captured and compiled in real time
  • Introduces the unit transformation process: a technique and methodology for mastering the complexities of a project and sequencing of its execution with direct answerability of individuals assigned to the distinct functional roles of accountability, approval authority, and execution responsibility
  • Develops the sequencing of project execution work into eight lifecycle phases managed at the interface between dependent unit transformations, and defines the completion milestone as the point in time when the asset has been proven to be performing profitably
  • WAVTM consists of numerous downloadable templates and materials to help ensure your successful development and execution of large capital projects or complex industrial projects — available from the Web Added Value™ Download Resource Center

About the author(s)

Steven Keays, M.A.Sc., P.Eng., is a 30-year veteran of the aerospace, defense, manufacturing and oil and gas industries.  He is the founder and CEO of NAIAD Company, a project consulting firm that specializes in the management of large and mega industrial projects with an international footprint. He is a graduate of Royal Military College of Canada (B.Sc. Mechanical Engineering) and the University of Ottawa (M.A.Sc., turbulent fluid mechanics). He is a specialist in large-scale project management, global execution strategies, construction and modularization, and has held leadership roles on projects in the Americas, Europe and Asia. Steven is a registered professional engineer in Canada, a member of the Project Management Institute (PMI), and a patent holder of industrial equipment. Mr. Keays is a noted thought leader, published author, and active speaker around the globe with a very popular blog. He resides in Calgary, Alberta, Canada, with his wife Margaret and their three children.

Table of Contents

Part 1: Why

Chapter 1 – Introduction: Between Project Success and Failure

Chapter 2 – The Point of a Project

Chapter 3 – Leadership

Chapter 4 – Theory

Chapter 5 – Accountability

Chapter 6 – Getting to No

Part 2: Where

Chapter 7 – The Project Ecosystem

Chapter 8 – The Budget

Chapter 9 – The Framework

Chapter 10 – Measuring Success

Part 3: How

Chapter 11 – The Execution Strategy

Chapter 12 – Work Sequencing

Part 4: Who

Chapter 13 – TEAMS

Chapter 14 – Personnel

Part 5: When

Chapter 15 – 3:2:1 Manage!

Chapter 16 – 4:5:6:7:8 Fix it!

Part 6: What

Chapter 17 – Mechanics and Mechanisms

Chapter 18 – Project Closeout

Chapter 19 – Final Words

Part 7: Miscellany






“This modernized encyclopedia for project management, written in an interconnected, free-flowing style, is a must read!”

David Song, Director of Project Controls, WorleyParsons

“If you are looking for solid ideas on how to achieve better project management outcomes, this thought-provoking book will provide a healthy return on your time invested.”

Gordon D. Holden, Chief Operating Officer, Surmount Energy Ltd.