BCG’s exclusive LESS framework applies proven principles to risky-but-rewarding megaprojects to ensure that best practices produce the best outcomes. The principles of the LESS framework are lean, effective, standardized, and structured.
The object of lean principles is the removal of unnecessary scope and specifications that increase costs and hamstring progress. The payoff is a plan that meets requirements as efficiently as possible.
The resources that are identified as essential must be effective to yield the best results. The LESS framework helps companies identify the idle time in the use of expensive construction equipment, which allows them to minimize the amount of lost time on a project or work site.
Standardizing and replicating facilities takes commitment, but it reaps sustained rewards down the road. After four generations of a standardized facility, the design time can decrease by as much as 90%, and the time to construct may be cut by more than half.
Finally, structured and disciplined management of idea generation and change requests can help make sure that only the most important deviations from the plan are allowed, which minimizes extra costs. Rigorous implementation of change management across the organization is embedded in decision rights, tools, and templates to drive decision-making.
The LESS capital approach can lead to a 20-35% reduction in total installed capital costs of megaprojects.