BENEFITS OF MODERN PROJECT MANAGEMENT

The benefits of MPM have been reported in article after article in PMI's PM Network® magazine and its Project Management Journal, as well as its annual seminar/symposium Proceedings. Just a few of them are discussed here.

The development of the Endicott Oil Field production facility, the first offshore oil field north of the Arctic Circle, was accomplished at a substantial saving of both time and cost. Although many of the facilities were produced on-site, using contractors experienced in that milieu, the major process unit was built in Louisiana, moved on a one hundred-by-four hundred-foot barge down the Mississippi River, through the Panama Canal and the Bering Strait, and off-loaded onto the manmade main production island. This had to be accomplished within a six-week window when the Arctic Ocean was not frozen, or else the project would be delayed by a year (Flones 1987).