Abstract
In completing a large project there is a time overrun of the order of three years on a scheduled project duration of 3.7 years and a cost overrun of 140 per cent. Production losses are five times the cost overrun due to delay. Cost and time overruns are jeopardizing the viability of the projects themselves. M G Korgaonker reviews and analyses the Indian experience as to why there are such heavy overruns. Based on a survey of current practices in project management, he concludes that project management practices can be improved considerably. He cites instances where effective management practices have led to completion of projects as per plans. He draws implications of his analysis for the pre-investment investigation, project appraisal, organization, and implementation stages of project management.
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