Independent Project Analysis, Inc (IPA) has begun testing a new product, the Construction Readiness Assessment (CRA), that will help capital project teams better position their projects for success. Based on an extensive research study conducted last year, the CRA is designed to quickly identify gaps in project development that should be improved prior to construction mobilization. This will provide several benefits to teams as both productivity and the work quality will be enhanced.
Through its research, IPA found that about 30 percent of capital projects begin field construction too early, which results in inefficient execution that is typically very costly. However, many companies do not have a process to verify that projects are ready to begin construction. A CRA provides a quantified assessment of the status of engineering, procurement, and construction as well as the overall integration of the three phases. Recommendations are also provided to rapidly close identified shortcomings.
For more information, please download this Construction Readiness document.