Courses Derived from IPA's Project Knowledge
IPA Institute project management and portfolio management training courses are based on specialized results from Independent Project Analysis' (IPA) research and quantitative analysis of thousands of actual capital projects. As such, IPA Institute courses teach project professionals statistically proven management practices that are linked to improved business value.
With its extensive databases, IPA is able to conduct research to identify the practices and characteristics that drive project outcomes, covering all project cycles, from initial business idea through startup and early operation. IPA is the only organization that has such quantitative research on which to base its teachings.
IPA's Project Databases
IPA’s extensive project databases contain ~14,000 capital projects of all sizes ($20,000 to $25 billion) executed all around the world, including including everything from revamps to new construction. Each year, approximately 1,000 projects are added with representation from the many different industries served by IPA.
Every project in IPA's databases is characterized by more than 2,000 project attributes, including:
- Technology
- Project scope (i.e., civil, instrumentation, or process industry)
- Project type (i.e., greenfield, colocated, add-on, expansion, or revamp)
- Project costs (very small site-based projects to megaprojects [multi-billion dollar projects])
- Year of authorization
- Geographical location (including county and onshore or offshore)
- Project outcomes (cost, schedule, and operability)
- Project management and project control strategies
- Team members and team continuity
- And many more
Filling the Void
IPA Institute courses fill a gaping hole in today's market, in which there is a lack of real information relating project practices to business value. With downsizing in Industry, much project management experience has been lost. Many firms have not added new project managers, so the project management function is aging.
A recent IPA study showed the need for project organizations to maintain core competencies in developing investments that align with business needs. These competencies have been eroded through downsizing and attrition of experience in the project management function. Given this situation, the renewal of the project function is needed.
Corporate executives continue to be dissatisfied with capital system performance, and a high number of project failures are still reported. More important, capital is being spent on projects that do not align with business objectives, so understanding how to link projects and business strategies is a pressing industry need.
For more information on Independent Project Analysis' services, industries, methodology, and databases, visit www.IPAGlobal.com.