EIL Director Calls for Collaborative, Tech-Driven Project Delivery at WPMF
New Delhi: Mr. S. Balakumar, Project Director, Engineers India Limited, gave one of the keynote addresses at the 33rd Global Symposium and the 7th World Congress on Project Management in New Delhi. As part of this event, Mr. Balakumar and many other distinguished panelists from different countries across the world discussed and were able to share their ideas related to the topic of "New Pathways in the Oil & Gas Sector, Towards Viksit Bharat 2047", as it relates to Project Management.
The participants in these discussions heard Mr. Balakumar explain that Project Execution is now required to have an increasing level of agility, collaboration, and stringent cost control, due to the following: The amount of time between the commencement of a project to its completion is rapidly decreasing; the cost of Projects is increasing; and the level of expectation from Stakeholders is increasing. Therefore, due to the aforementioned reasons, Mr. Balakumar stated, it will no longer be acceptable to work in silos or have a disconnected approach to conducting business in this industry.
One of the more significant discussions during these discussions was the importance of the "3C Framework" (Client, Consultant, and Contractor) as the foundation for the Successful Delivery of Projects of National Economic Interest. Mr. Balakumar went on to indicate that the continued success of Projects, and their Successful Delivery, will be dependent on Continued Early and Ongoing Communication & Collaboration with Stakeholders, and the utilisation of Artificial Intelligence and Machine Learning (AI–ML) technologies in the Monitoring and Reporting of Project Progress and Providing Critical Data for Informed Decision Making on Future Project Investment.
Along with comments made by Mr. Balakumar regarding Project Management Principles, and their impact on the Oil and Gas Industry, Mr. Balakumar also indicated that as India continues to evolve towards the National Vision of Viksit Bharat 2047, the types of Project Delivery Models will be moving from Disconnected and Traditional Project Delivery Models to Integrated, Technology Driven, Collaborative, and Results-Oriented Project Delivery Models.
This forum allowed Government Representatives, Industry Leaders, and