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Need to check overruns in infrastructure projects

Normal 0 false false false EN-US X-NONE X-NONE /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-qformat:yes; mso-style-parent:""; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin-top:0in; mso-para-margin-right:0in; mso-para-margin-bottom:10.0pt; mso-para-margin-left:0in; line-height:115%; mso-pagination:widow-orphan; font-size:11.0pt; font-family:"Calibri","sans-serif"; mso-ascii-font-family:Calibri; mso-ascii-theme-font:minor-latin; mso-fareast-font-family:"Times New Roman"; mso-fareast-theme-font:minor-fareast; mso-hansi-font-family:Calibri; mso-hansi-theme-font:minor-latin;}                 A PMI-KPMG report reveals the silentdrain on national resources   While infrastructure has beendriving economic growth in India, time and cost overruns impede the sector'spotential, says the Project Management Institute (PMI)-KPMG InfrastructureStudy 2010. The report also highlights howproject management can help ensure efficient deployment of resources. Of the1,035 infrastructuresector projects completed during April 1992March2009, the study noted that 41 per cent faced cost overruns and 82 per centwitnessed time overruns. PMI, a global association for theproject management professionals released a study with leading professionalservices firm, KPMG titled `Study on Drivers for Success in InfrastructureProjects 2010' at a conference on `Project management in infrastructuresectors' held in New Delhi this week. The report presents a comprehensivemapping of infrastructure projects and highlights the important roles that allstakeholders will play towards building India's infrastructure with planningand efficiency. The survey was carried out after taking the views of over 100top management personnel representing Indian companies across infrastructuresectors, namely oil and gas, power, roads and bridges, ports and shipping,civil aviation, urban infrastructure, railways, steel and telecom. Raj Kalady,managing director, PMI India, said, "As the Indian economy drives globalgrowth, it is critical for owners and contractors, the government, and theentire project stakeholder community, to mitigate delivery weaknessescollaboratively while consolidating strengths for successful project delivery.PMI, as a not-for-profit body, has been successful in building advocacy for theuse of project management." Geno Armstrong, global head, majorproject advisory services, KPMG, said,"The infrastructure industry in India has enjoyed several positiveindicators. However, certain hard facts such as the on-ground delivery andextent of success achieved in terms of timely and within-budget completionsound a cautionary signal to the industry and the stakeholders." "India is a country withtremendous potential for infrastructure growth. This sector has enjoyed agrowth rate of 22 per cent in 2008-09. Moving ahead, there is a plannedgovernment spending of Rs 46.3 trillion in the 12th five year plan, with astaunch commitment to infrastructure investment proposed by the government. Despite these figures, time and cost overrunsthreaten to limit the potential of this sector to not only achieve growthprojections, but also the huge contribution it can make to the overallGDP," he added. Courtesy: HT Estates 13 March 2010 For more information regarding apartment in gurgaon,bedroom apartments, buy property in india, commercial complex in india,commercial real estate, commercial space in gurgaon, dealers, flats for sale,indian real estate investment, investment options in real estate, luxuriousflats, malls, office space, office space in gurgaon, online real estate,penthouses gurgaon, plots, property consultants, property in gurgaon, propertyindia, property investment, real estate company, real estate developer, realestate gurgaon, real estate in india, real estate investment strategies, realestate market, real estate news, real estate portals, realtors, realty,residence, residential real estate, sell property, shop, villas, ResidentialApartment   Visit    www.zameen-zaidad.com             www.propertycafeteria.com