Capital Projects: What Every Executive Needs to Know to Avoid Costly Mistakes and Make Major Investments Pay Off; Contents; Acknowledgments; 1: Falling Short of Expectations: How Executives Struggle to Deliver the Value from Their Capital Projects; Background and Basis for the Book; Capital Projects Create Value; Most Projects Create Less Value Than Expected; Results Apply to All Types of Projects; Sources of Value Erosion Are Not Limited to Cost and Schedule Overruns; How to Deliver the Value Promised; Causes of Value Erosion Often Start Early 2: Why the Stage-Gate Process Is the Best Tool Executives Can Use to Get the Most Value from Their Capital ProjectsA Necessary Process; How Does the Process Work?; Assess: What Do We Want to Accomplish?; Select and Define: How Should We Accomplish It?; What Is the Role of Executives in the Process?; Different Kinds of Executives; Project Governance Structures; Stage-Gates and Executive Control; 3: The Project Frame: Understand the Opportunity before Starting a Project; Typical Contents of a Project Frame; Unlock Value by Finding a Better Option; How to Develop a Project Frame Where Are We Now?Where Do We Want to Be?; Use the Frame for Executive Alignment and Endorsement; Develop the Target Condition; How Do We Get There?; 4: The Critical Project Sponsor Role; Who Is the Project Sponsor?; Overview of Project Sponsor Role; Assign a Project Sponsor as the Initial Business Case Is Developed; Requirements for a Strong Project Sponsor; Make the Project Sponsor Own the Business Case; Establish the Mandate for the Project Sponsor; Hold Project Sponsors Accountable at the Stage-Gates; Focus on the Project Sponsor Behaviors That Produce Robust Business Cases Building a Strong Project Sponsor and Project Manager RelationshipChoosing the Right Project Sponsor; Seniority and Credibility; Knowledge of the Business and Its Operations; Interpersonal and Critical Thinking Skills; Understanding of Basic Project Management Concepts; Continuity; 5: The Single Most Important Thing an Executive Can Do to Make Any Capital Project Succeed: Define Clear Objectives; Business Objectives versus Project Objectives; Developing Clear Objectives; Developing Comprehensive Objectives; Confirm Alignment of Objectives with Business and Corporate Strategy Surface Strategic Objectives EarlyCommunicating the Objectives; Communicate the Uncertainty in the Business Case to Get Better Project Objectives; Explain the Objectives Face-to-Face; Executives Have to Show Up and Participate; Prioritizing the Objectives; 6: The Executive's Role in Building and Supporting High-Performing Project Teams; Executive Leaders Lead; Invest in a Strong Owner Project Team; Why You Need a Functionally Integrated Team; Help the Project Manager Get the Resources for a Functionally Integrated Team; Do Not Outsource the Owner Team Role More Experienced Project Teams Do Better Projects
Includes index. Description based on print version record.