The evolution of capital project delivery in heavy industry sectors through practical the application of McKinsey’s Capital Projects 5.0

March 24, 12:10 pm - 12:50 pm AEDT

McKinsey’s Capital Projects 5.0: Reimagining Capital Project Delivery report supports emerging practices and leading edge thinking that is changing the nature of the project management profession, particularly in heavy industry sectors. Capital Projects 5.0 builds on the Fourth Industrial Revolution’s advances, which introduced automation, machine learning, smart technologies, and the Internet of Things into conventional manufacturing and industrial practices, and identifies six fundamental changes that could underpin a better approach to capital-project delivery:

  • Ecosystem of partners that collaborate to drive end-to-end value
  • Industrialisation and focus on innovation
  • Agility, flexibility and resilience combined disciplined processes, progress monitoring and management
  • Sustained capability building with a redesigned “people supply chain”
  • A data-driven, digitally enabled operating model
  • Future-proofing of projects by ensuring sustainability.

KBR is an industry leader in program management and works collaboratively with customers to deliver their most complex water, resources and energy programs, utilising capital efficient strategies.

Through the lens of McKinsey’s Projects 5.0 model, we will share how KBR’s transformational journey and continuous evolution of our Project and Program Management Solutions ecosystem spanning over a decade links to these six fundamental changes and how we are reshaping how we deliver end-to-end value through long term, multi-project programs across Australia.

More specifically, in the session we will cover:

  • An evolution of delivery partner models in water program management – from panels to framework partners to integrated partners delivering capital together
  • Building intelligent clients alongside collaborative yet accountable partners through data-driven decision-making, collecting, collating and analysing data, and transforming it into powerful information and insights that generate tangible economic and social value
  • Implementing long-term partnerships and frameworks that provide certainty to delivery partners, placing greater collective focus on the client’s issues and drivers (and less on what’s next)
  • Engineering has evolved beyond transactions to innovation and adaptability
  • Working in integrated teams where company badges are left at the door and all employees are treated as one-team, from program activities to learning and development
  • Programmatic approaches which introduce adaption and agility whilst maintaining clear linkages to organisational drivers via benefits management for project and programs

The challenges of the future have already arrived and require data-enabled intelligent thinking, innovation and technology to push the boundaries of capital project delivery. As project management solution providers and individual practitioners, this session will provoke your thinking in how you can use McKinsey’s Capital Projects 5.0 to remain agile and reimagine the way you deliver.

Carey will be joined by special guest Prakash Parbhoo, Partner, Global Leader for Digital, Analytics & Alliances in Capital Projects and Infrastructure, from McKinsey & Company.

Session sponsor:

Director - Program Management & Construction (PMC) Services - KBR
Back to program