A marine contractor retools to win more complex EPC projects.
A successful marine contractor had experienced growth largely due to its specialty contracting work. But the company was increasingly being called on to deliver complex engineering, procurement, and construction (EPC) projects. Delivering large, turnkey projects requires an advanced ability to measure and mitigate project risk, and the organization realized that it needed help in order to expand its capabilities.
The company collaborated with BCG to embark on a comprehensive EPC Project Excellence Program. Rapid diagnostics identified the key areas in which the company needed to improve to manage complex EPC projects. The program focused on transforming the company in three major areas:
The EPC Project Excellence Program has made an impact across the organization. The company has put into place the systems, tools, and organizational structure required to successfully deliver complex EPC projects. The program has created a common language across the company as it continues to identify important success factors for managing complex projects.
BCG also helped the company develop an innovative training tool to simulate project situations in a game environment and reveal real-life behaviors and team dynamics. The training tool has been rolled out to all members of the company’s global workforce who are engaged in complex projects.
The program has had a measurable financial impact, allowing the company to avoid project losses through improved processes and better risk management.