Project Management and Transparency for Capital Projects

Description

Program- and project-management best practices are typically implemented when a corporation aims to work efficiently and effectively to deliver its projects to the customers on time and to maximize shareholder value. In comparison, when looking at either the public or government sector, projects are typically funded primarily by taxpayer dollars, and reporting requirements and overall level oversight tend to be less consistent. Prior to leaving office, President Barack Obama signed into law the Program Management Improvement and Accountability Act, which focuses on the program- and project-management requirements of government-initiated projects. President Donald Trump succeeded Obama in office, and continued to focus on improving project-management governance and project execution. This technical note explores government-funded capital projects, the project-management practices implemented by select government agencies, and the current reporting requirements. Best practices are highlighted.

Keywords

Accountability capital projects Project management