Capital projects differ from routine operational purchases and require different procurement skill sets. Capital projects have three objectives:
- Complete project safely
- Complete project on time
- Complete project under budget
Our adaptive approach considers project goals while focusing on safety, cost, schedule and compliance, aggregating total spend and scale across various projects to the extent possible.
The benefits of efficient procurement in capital projects goes beyond budget performance and includes supplier surveillance for the management of material lead times on the critical path, and mitigation of contractual and performance risks, while focusing on close team involvement, ultimately delivering overall value to the project team.
Our team of procurement experts have decades of experience and proven know-how, applying practical approaches for delivering immediate results. Ways our team can help drive effective turn-key purchasing performance without adding permanent headcount are as follows but not limited to:
- Rapid Sourcing – Aggressive project timelines create tension between speed and value, so we use a rapid sourcing process1 that strategically selects the relevant steps of the traditional “seven step strategic sourcing methodology” to increase speed-to-value for capital projects. The primary differentiator with rapid sourcing is the flexibility used during the sourcing initiative.
- Project Procurement – Using our experience and partnering with contractors and suppliers we are able to identify and manage supply-related risks early in procurement process avoiding potential cost and schedule risks.