PMI in News
Managing Healthy GrowthBluebytes | Oct 21, 2010
If India Inc does not practice professional project management then the cost of delays would be close to US$100 billion, writes Raj Kalady
India has been on a growth path for the past two decades and is poised to take an even larger slice of the world economy pie. The Eleventh 5 Year Plan foresees a requirement of over US$ 500 billion investment in infrastructure projects in the next five years, and this includes capacity expansion in the manufacturing sector. This is more good news for an economy that has challenged and strongly withstood the slowdown. The Indian manufacturing sector has strived, and largely succeeded, in raising productivity levels and adopting best practices across the value chain. This has resulted in Indian companies swiftly crossing one milestone after another at a time when western majors are trying hard to stage a revival. This is indeed to be applauded.
However, on the other hand, as per the flash report from the Ministry of Statistics and Programme Implementation.
(MOSPI), project cost overrun is a high over 17% of the project estimate. If India Inc. does not practice professional project management the cost of delays would be close to US$ 100 billion, an amount the country can ill afford to waste. On the other hand, there are a number of projects in India which have been completed on time and within budget, the Delhi Metro being one such example.
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