India Have Tremendous Potential For Infrastructure Growth

March 12, 2010 - PRLog -- While infrastructure has been driving economic growth in india, time and cost overruns impede the sector's potential. How project management can help ensure efficient deployment of resources, Of the 1035 infrastructure sector projects completed during April 1992 - March 2009, the study noted that 41 per cent faced cost overruns and 82 per cent witnessed time overruns.

A global association for the project management professionals released a study with leading professional services firm, KPMG titles study on drivers for success in Infrastructure Projeccts 2010 at a conference on Project management in infrastructure sectors held in New Delhi this week.

The report presents a com- prehensive mapping of infra- structure projects and high- lights the important roles that all stakeholders will play towards building India's infra- structure with planning and efficiency. The survey was car- ried out after taking the views of over 100 top management personnel representing Indian companies across infrastruc- ture sectors, namely oil and gas, power, roads and bridges, ports and shipping, civil aviation, urban infrastructure, rail- ways, steel and telecom. "As the Indian economy drives global growth, it is critical for owners and contractors, the govern- ment, and the entire proj- ect stakeholder community, to mitigate delivery weaknesses collaboratively while consolidating strengths for successful project delivery. Project Management Institute, as a not-for-profit body, has been successful in building advocacy for the use of project management."

Geno Armstrong, global head, major project advisory services, KPMG, said, "The infrastructure industry in India has enjoyed several positive indicators. However, cer- tain hard facts such as the on-ground delivery and extent of success achieved in terms of timely and within-budget completion sound a cautionary signal to the industry and the stakeholders."

India is a country with tremendous potential for infrastructure growth.This sector has enjoyed a growth rate of 22 per cent in 2008-09. Moving ahead, there is a planned govern- ment spending of Rs 46.3 trillion in the 12th five year plan, with a staunch commitment to infra- structure investment pro- posed by the government.

Despite these figures, time and cost overruns threaten to limit the potential of this sector to not only achieve growth projections, but also the huge contribution it can make to the overall GDP.

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