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Frontiers of Engineering Management

ISSN 2095-7513

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Front. Eng    2016, Vol. 3 Issue (3) : 231-238    https://doi.org/10.15302/J-FEM-2016032
ENGINEERING MANAGEMENT THEORIES AND METHODOLOGIES
Improving Internationally Core Competences Based on the Capabilities of Precise and Accurate Project Management
Zhen-you Li1(), Ji-shan He2, Meng-jun Wang3
1. China NERIN Engineering Co. Ltd., Nanchang 330031, China
2. Business School, Central South University, Changsha 410083, China
3. School of Civil Engineering, Central South University, Changsha 410083, China
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Abstract

Modern international project management has entered the phase of precise and accurate project management after the global financial crisis broke out at the beginning of the 21st century. However, its development has faced new challenges since there has been lack of explicitly unanimous definition for the capability dimensions of precise and accurate project management, as well as the models and their process control parameters. The required core capabilities based on the precise and accurate project management for various rings are involved in the project life cycle, namely, the required internationally core competences and their components for the phases of project strategic planning and decision making in the early project phase, as well as the value engineering, and the project supervision and controls during the execution phase. Through studying the effects of the internationally core competences based on precise and accurate project management capabilities for the success and excellence of projects and configuring such models, the goal is to help the main contractors continuously obtain project success and excellence, thus improve its internationally core competences with continuous project success and excellence.
Keywords precise and accurate project management      project strategic planning      decision-making      project supervision and controls      project execution      value engineering     
Corresponding Author(s): Zhen-you Li   
Online First Date: 21 November 2016    Issue Date: 22 December 2016
 Cite this article:   
Zhen-you Li,Ji-shan He,Meng-jun Wang. Improving Internationally Core Competences Based on the Capabilities of Precise and Accurate Project Management[J]. Front. Eng, 2016, 3(3): 231-238.
 URL:  
https://academic.hep.com.cn/fem/EN/10.15302/J-FEM-2016032
https://academic.hep.com.cn/fem/EN/Y2016/V3/I3/231
Index categorySub-indexA=Weight (%)B= ScoringScore C= A×B
1. Strategic risk decision making capability1.1 Capability of determining the project management model80?1000?8
1.2 Capability of obtaining contract90?1000?8
1.3 Capability of predicting project efforts80?1000?8
2. Financial risk decision-making capability2.1 Capability of estimating the amount of project financing80?1000?8
2.2 Capability of predicting systemic risk80?1000?8
2.3 Capability of obtaining reliable cost estimate basis90?1000?8
3. Operational risk decision-making capability3.1 Sub-contract planning capabilities90?1000?8
3.2 Capability of computing total expected returns80?1000?8
3.3 Capability of computing total expected risks80?1000?8
4. Hazard risk decision-making capability4.1 Capability of determining the risk analysis methods80?1000?8
4.2 Capability of identifying hazard process80?1000?8
4.3 Capability of potential process hazard management90?1000?8
Total Score1000?1000?100
Tab.1  Main Contractor Strategic Planning and Decision-Making Capability Ratings in the Project Early Stages for the Project Life Cycle
Index categorySub-indexA=Weight (%)B= ScoringScore C= A×B
1. Progress monitoring and control capabilities1.1 Capability of scheduling50?1000?5
1.2 Capability of assessing progress50?1000?5
1.3 Capability of controlling progress60?1000?6
2. Costs monitoring and control capabilities2.1 Capability of cost planning50?1000?5
2.2 Capability of assessing costs50?1000?5
2.3 Capability of controlling costs60?1000?6
3. Quality monitoring and control capabilities3.1 Capability of quality planning60?1000?6
3.2 Capability of assessing quality60?1000?6
3.3 Capability of controlling quality60?1000?6
4. HSEC monitoring and control capabilities4.1 Capability of HSEC planning60?1000?6
4.2 Capability of assessing HSEC60?1000?6
4.3 Capability of controlling HSEC60?1000?6
5. Contracts monitoring and control capabilities5.1 Capability of contract planning50?1000?5
5.2 Capability of assessing contracts50?1000?5
5.3 Capability of controlling contracts60?1000?6
6. Information and document monitoring and control capabilities6.1 Capability of information and documents planning50?1000?5
6.2 Capability of assessing information and documents50?1000?5
6.3 Capability of controlling information and documents60?1000?6
Total score1000?1000?100
Tab.2  Ratings on Monitoring and Control Capabilities for Main Contractors in the Project Life Cycle
Index categorySub-indexA=Weight (%)B= ScoringScore C= A×B
1. Engineering design implementation of optimization capabilities1.1 Engineering design implementation capacity70?1000?7
1.2 Value engineering capacity70?1000?7
1.3 Engineering design coordination capacity60?1000?6
2. Procurement implementation of optimization capabilities2.1 Procurement implementation capacity70?1000?7
2.2 Procurement optimization capacity70?1000?7
2.3 Procurement coordination capacity60?1000?6
3. Construction implementation of optimization capabilities3.1 Construction implementation capacity70?1000?7
3.2 Construction optimization capacity70?1000?7
3.3 Construction coordination capacity60?1000?6
4. Commissioning and acceptance implementation of optimization capabilities4.1 Commissioning and acceptance implementation capacity70?1000?7
4.2 Commissioning and acceptance optimization capacity70?1000?7
4.3 Commissioning and acceptance coordination capacity60?1000?6
5. Production preparation implementation of optimization capabilities5.1 Production preparation implementation capacity70?1000?7
5.2 Production preparation optimization capacity70?1000?7
5.3 Production preparation coordination capacity60?1000?6
Total score1000?1000?100
Tab.3  Main Contractor Implementation and Optimization Capabilities Ratings in Project Management Life Cycle
Internationally core competitivenessA=Weight (%)B=ScoringCapacity ratingsC=∑(Ai×Bi), total scoreEvaluated scores by using IPMA-PEB-1.0
Planning and decision-making400?1000?100
Monitoring and control300?100
Implementation and optimization300?100
Tab.4  The Relationship of Internationally Core Competitiveness and Performance Based on Precise and Accurate Project Management of Main Contractors
AnnuallyTotal revenues for Overseas projects (USD)Growth rate of revenues for overseas projects (%)The new contract number of overseas projects (USD)The new contract growth rate of overseas projects (%)Total profits for overseas projects (USD)Growth rate of profits for overseas projects (%)
0thA1NAA3NAA5NA
1stB1B2B3B4B5B6
2ndC1C2C3C4C5C6
3rdD1D2D3D4D5D6
Tab.5  Three Internationally Core Competitiveness Category Indicators of the Main Contractor for Three Consecutive Years
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