10 January 2015
Managing mega industrial projects is a creative job and certainly not meant for the mechanical-minded. As markets go global, mega projects are becoming all the rage today. Mega projects are the results of corporate ambition and are the final products of aspiration, assets and ability, and the insatiable desire to rule the world market.
When projects go mega, they send out a clear message that you have arrived. Inflamed by such ambitions and aspirations, tempted by increasing access to global funds, and emboldened by their own prowess, corporate entities around the world are busy planning, designing, and executing industrial ventures on a size and a scale never heard or seen before.
With mega projects rising like formidable towers even in yesteryears’ controlled economies and in traditionally reserved-for-State sectors such as infrastructure, power, gas, and telecom, the focus of mega projects is fast changing. With that, the concept of size too is undergoing great changes. And scales are moving up almost across all industrial sectors and segments.
Of all the changes that the contagious liberalisation and privatisation continue to sweep in, diminishing role of state sectors and crumbling control- command economies are the most remarkable. Gone are the days when projects were put up primarily to serve domestic markets. Today, projects are put up primarily to serve the “globalising” global markets.
That being the case, ambitious and projects-obsessed companies find themselves thrown to face domestic wolves, muscular MNCs and global Goliaths. As economy after national economy integrates with the global economy, CEOs are rudely realising that their projects should be of minimum economic capacity by global standards, with minimum economies of scale.
Meanwhile, the very concept of what is minimum economic capacity has gone for a toss, changed for ever.
That is why mega projects are moving apace and gaining untold momentum. And managing them with mastery is fast becoming critical in all economies.
Harish Kumar’s Mega Projects Mega Realities: Live-wire lessons for CEOs and project managers has been published as Amazon Kindle and Smashwords e-book and Amazon CreateSpace print-to-order paperback
10 January 2015