Major capital projects are notoriously difficult to execute. Management and their boards are placing the blame on their so-called ‘Black Swan’ events.
This article was first published in the Director Journal, a publication of the Institute of Corporate Directors (ICD) in September 2016.
Major capital projects are notoriously difficult to execute. All too often, we hear of important infrastructure projects that have hit delays, gone over budget or – worse – never materialized at all. And all too frequently, management and their boards of directors place the blame on so-called ‘Black Swan’ events: simply put, the unpredictable.
But are these events really unpredictable? And what can boards of directors do to improve the predictability of their major capital projects? To find out, Stephen Beatty, KPMG’s head of infrastructure for the Americas and India, sat down with John Beck, founder and executive chair of Aecon Group Inc., the Canadian construction and infrastructure development company.
Explore these events by reading the article in the full report.