Independent Project Analysis (IPA) today revealed details of a new 2012 China Study
to focus on identifying and evaluating the drivers of capital project success in the current China marketplace. This new joint industry study will build on IPA’s previous China Studies from 2005 and 2009 through the analysis of existing capital projects in IPA’s project database and additional projects provided by participating companies.
Over the last several decades, companies from Western countries have executed hundreds of major capital projects in China despite not understanding the practices necessary to execute the most cost and schedule efficient projects in the country. In order to advance industry knowledge for successful project execution in China, IPA has set the following specific goals for the 2012 China Study:
- Statistically compare the performance of recent projects in China with those typical for industry projects in Western regions
- Identify and evaluate the practices that are correlated with the best project outcomes in China
- Evaluate differences in regional performance between the centers of capital activity in the Yangtze and Pearl River deltas versus inland locations
- Provide an in-depth analysis of the China-specific practices that affect performance
- Review the practices used for ongoing projects to understand how companies incorporate lessons learned into their ongoing work and evaluate recent trends in cost estimating and schedule planning