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Capital Project/Portfolio Management
The Capital Project/Portfolio Management process is central to most Electric T&D organizations -- most of the spending is on capital projects.
We have defined two key phases:
Capital Work Plan Development
- Work Plan: Developing an approved annual capital budget is a critical challenge for most complex utility organizations. Usually there are many, many projects in Planning, and while they might need project management, the main challenge is to identify, evaluate, prioritize and select the projects to include in the annual capital portfolio.
Capital Work Plan Execution
- Portfolio Monitoring and Control: Once the work plan has been developed and individual projects started, it is essential to monitor the progress of the portfolio to make sure that objectives are met within the available resources.
- Project/Portfolio Management: While much of the spending is for "programs" that include many small jobs, management of very large jobs is a critical utility activity. An individual project follows typical steps of: project identification; planning; execution, control, and closeout.
First Quartile Consulting is offering a structured, 5-step assessment targeted at measuring, understanding, and quantifying improvement opportunities (people, process/analytic, technology, organization and regulatory) and the related benefits.
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