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I.T. as a business-growth enabler for Turnkey Project Companies A study of the common business and operational challenges faced by multi-located,growth-oriented turnkey pr oject companies, and how information technology can helpInformation Management Infrastructure for the Global EPC Organisation The turnkey project company of today juggles multiple projects across multiple locations,works with distributed project teams that combine internal resources, external consultants, vendors, contractors and customers, and manages vast amounts of data across different time-zones. |
Turnkey Construction Industry: Caught in the crux of
challenges In this fast-paced era of globalization and pioneering technological advancements, Turnkey Construction has turned into a fast expanding, multi-million dollar industry. A typical Turnkey construction company is pressured by time, driven by quality, excessively dependent on resources, documentation-intensive and subject to stringent regulations. The EPC industry is susceptible to numerous challenges and the risk factor is also immensely high. The modern global engineering & construction industry faces some of the most perplexing business problems, that include:
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Organisation standards and procedures defined in ISO and special laws such as the FIDIC govern the proccess of a Turn-key Construction Industry. One of the biggest challenges is that all the stages in this long-drawn process from the conceptual stage to commissioning are monitored and documented 100% manually with only pockets of automation. This leads to deliverable delays, lack of accountability, low quality and the inability to systematically enforce processes across the enterprise. 
Project management in
the EPC industry is a rather time-consuming, daunting task and is, undoubtedly, a core problem faced by this industry. In an EPC industry,
a typical project comprises around 3000-4000 tasks, thousands of documents and approx. 2000-3000 drawings, document, emails,
correspondences, etc. generated as part of the whole product development process. It is difficult to manage such a huge volume of
documentation in a manually-operated environment. Lack of centralized data management leads to inaccurate documentation, inability
to retrieve the latest versions of documents, project delays, low or mostly non-existent reusability and non-optimal utilization of
resources.
Close
interaction between the internal & external entities in the project team such as the client, design consultant, main contractor,
vendor etc, is a prime requisite for change management. Quite often, geographical constraints hinder the smooth flow of communication
as the teams are located in multiple locations around the globe. Communication usually takes place via emails, phone, face-to-face or
through hardcopy files sent by courier, thus resulting in heavy expenses, travel costs & delays. 
Most projects are executed on
fixed budgets and a considerable amount of increase in costs can either derail the project or make it non-viable for the client. Increase
in the cost of materials caused by delay in turn pushes up the cost of the project, leading to decline in quality, postponement in Project
end date & invoking of Late Delivery Clause by the client. 
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