Project Management?
- Published: November 04, 2024
We live in exciting times where manufacturing technology is advancing faster than ever before. Organizations are focused on efficiency, quality, and speed to market. To offer a new product or improve production to market, retrofitting existing lines or installation of new equipment is required. There are many steps from concept to finished product, but once the direction is clear and decided a "Capital Expenditure or Project" is born!
Suppliers are contacted, quotes are obtained, and a timeline is established. There is a process. This is where it can start to be challenging. Certain vendors offer one product where others can offer a turnkey solution. More times than not, a blend of both is leaned on for a successful project. With expanded vendor services and industry supplier consolidations, it has never been more critical to have solid "Project Management".
In some cases, it can be simple, an off the shelf product or component is needed where price and delivery can be established quickly. But in most cases a newer custom or complex components) or machine is required. This is where Project Management is vital, confirming all technical and commercial aspects are confirmed in the initial phase. All the details are revealed, and a timeline is created with milestones laying out an execution strategy that is transparent and visual to all parties. Expectations and areas of accountability are measured with metrics. Even when delays or challenges occur, project management can communicate in real time and create a path for recovery.
Pricing for projects is generally based on an established ROI. A successful expansion or project will be measured on quality, timeline, and ultimate cost. When selecting a vendor(s) early in the process, are you asking the question "How will you manage my Project?" before confirming delivery and price? Consider this could be the most important initial question you ask!
William Bradley,
Vice President, Business Development
American Roller