Managing Small CAPEX Projects

by Emil Randa-Boldt

Abstract

The classic project management methods can be scale up and down dependent of a project size and complexity. However, it is often seen that when dealing with smaller projects, that may not differentiate much for daily operation, it can be hard for the project manager (PM) to apply the standard tools for ensuring the quality of a project. That is due to the time and resources allocated to run a project are limited. The PM has to navigate in the project management jungle and chose to focus the available resources on key elements. What those key elements are in the small CAPEX projects will be highlighted in coming article.

To further emphasis the coming guidance, the smaller CAPEX projects in question are in regards to classic engineering scopes, which engineering PMs encounter often all over the industry, e.g. Upgrade of machinery on a products line, retrofitting a crane on a cargo ship or develop/implementation of small IT systems. These projects contain same elements as in larger project, but in a very different scale and a focus in the project management process has to be adapted. The lack of standardization and methodology in smaller projects lower the probability to deliver projects on time and budget. By investigating where small projects fails it can help a PM to identify which project management tools to include in a project and which that may be skipped.

Introduction

...Furhter specify the context and approach.

Purpose

...Which elements in this category are essential...

People

...Which elements in this category are essential...

Complexity

...Which elements in this category are essential...

Uncertainty

...Which elements in this category are essential...

References https://www.pmi.org/learning/library/unique-challenges-managing-small-project-8439 https://www.pmi.org/learning/library/managing-leading-small-projects-7245 https://www.mpmm.com/project-sizes.php https://www.excel-pmt.com/2019/02/how-to-determine-project-size-sizing.html https://www.pmeducation.com/large-and-small-projects https://www.pmi.org/learning/library/choosing-right-project-approach-9346 Managing Successful Projects with PRINCE2 2017 Edition, AXELOS, The Stationery Office Ltd.