The Independent Advisor benefit for Operational Readiness of Projects and PPPs
We have previously discussed the criticality of Operational Readiness in enabling effective and successful achievement of the objectives of a Project or Public-Private Partnership (PPP), and the importance of addressing this through a lifecycle systems engineering approach – whether it’s an energy, mining/resources, energy, transport/logistics, industrial, infrastructure or other application sector Project or PPP.
We also emphasised how effective Operational Readiness requires a holistic and broad-based approach across technical and non-technical aspects – all coherently aligned within the overall lifecycle systems engineering approach.
In the context of such an approach, there are particular benefits to having an independent third-party advisor direct, manage and/or conduct, or advise on, the Project or PPP Operational Readiness exercise and processes and assist in navigating the inherent complexities – and here’s why…
An independent third-party advisor brings an unbiased perspective, providing objectivity and fresh perspectives. Leveraging their expertise and experience across various other industries/application-sectors, projects and PPPs, they are well placed to provide valuable insights and to potentially identify issues or blind spots that the internal team may miss and to circumvent possible internal biases. Aligned with that, an independent advisor can objectively challenge assumptions and ask critical questions.
The independent advisor’s fresh perspective and broader experience can also assist in comprehensively identifying and mitigating potential risks during the transition to full operation – and indeed more broadly in respect of the effective and successful achievement of the project or PPP objectives (the lifecycle systems engineering approach). They can also help develop more robust mitigation strategies that the internal team might not have considered.
An independent advisor can act as a facilitator, fostering better communication and collaboration across project elements and teams (‘cutting across silos’), as well as objectively facilitating (and coherently coordinating) workstreams, workshops, reviews, assessments and other activities within the Operational Readiness exercise and process (‘conducting the orchestra’).
Independent Advisors can furthermore provide practical management enhancement of the Operational Readiness Exercise. This includes, for example, the following aspects:
- Documentation and Records: Ensuring proper and thorough documentation of the Operational Readiness process, thereby ensuring a clear record inter alia of steps taken, issues identified and mitigation strategies. This becomes valuable for future reference or audits.
- Continuous Improvement: Assisting in identifying ‘lessons-learned’ and areas for improvement in the Operational Readiness process and refining of approach and processes for the current and future projects or PPPs.
Whilst there is a cost element associated with using independent advisors, their engagement and involvement (particularly through a lifecycle systems approach) should be viewed as a proactive investment in the successful transition to operations, and in enabling effective and successful achievement of the project or PPP objectives. Utilising an independent advisor therefor also demonstrates and achieves a proactive approach to reducing the risk profile of the project or PPP – with concomitant attraction and benefits to stakeholders.
In summary, benefits of having an independent third-party advisor directing, managing and/or conducting, or otherwise advising, on a Project or PPP Operational Readiness exercise and processes include the following:
- Objectivity and Fresh Perspective.
- Leverage range of Industry Expertise.
- Challenge Assumptions and Drive Robustness.
- Enhance Risk Management.
- Facilitation of enhanced Communication & Collaboration.
- Facilitation (and coherent coordination) of Activities.
- Practical Management Benefits.
- Investment in enabling effective and successful achievement of the project or PPP objectives, and in navigating the inherent complexities.
- Proactive Approach and Confidence-boost for stakeholders.
Ultimately, Independent Advisors can significantly improve the effectiveness of Operational Readiness exercises and processes – particularly through a proactive lifecycle systems engineering approach – and can therefore also boost confidence in the project’s or PPP’s operational readiness, and the effective and successful achievement of the project or PPP objectives, for stakeholders including owners, investors, insurers and lenders. A significant benefit indeed!
As independent third-party advisors, and also leveraging our Strategic Advisory and ‘Troubleshooting & Fixing’ competencies, our Engenamic team can significantly improve the effectiveness of clients’ Operational Readiness processes and exercises across the project and PPP lifecycle (even where our involvement only commences later and where a full lifecycle approach has not been taken) – and hence make a significant contribution towards achieving project and PPP objectives.
About Engenamic
At Engenamic, we are focused on enabling successful projects, public-private partnerships (PPPs) and engineering outcomes, through the project, PPP and engineering lifecycle. In our approach, we are firm proponents of coherent and holistic solutions, and of a systematic approach to understanding and addressing project and engineering requirements and challenges.
Speak to us today about our strategic advisory services, as well as our “troubleshooting and fixing” interventions and support.
Our professional services are offered internationally on a worldwide basis.