Initiation phase
- Organization Budgets: Define 5/10-year Organization budgets for Capital and O&M work broken out by Division/LOB
- Submit proposals: Define the overall project budget, ensuring alignment with financial goals (ROI, NPV) and alignment with strategic direction
- Investment Analysis: Perform an assessment to evaluate financial, operational, risks, constrain resource usage and alignment with organization strategy before greenlighting projects for execution
Planning phase
- Capital Asset Tracking: Identify and plan for necessary capital assets, ensuring proper procurement processes are in place.
- Project Funding Allocation: Allocate funding for various project phases, ensuring clear financial resource distribution and cash flow management.
- Vendor and Contract Management: Engage with suppliers and contractors, ensuring contracts are structured and compliance is achieved.
- Capital Expenditure Forecasting: Develop a financial forecast based on project scope and funding, allowing for better financial planning and control.
Execution phase
- Multi-Phase Project Management: Manage the execution of the capital project across multiple phases, tracking progress, timelines, and budgets.
- Capital Project Documentation: Maintain comprehensive documentation, including permits, contracts, and change orders to ensure transparency throughout the project.
Closeout phase
- Stakeholder Reporting: Provide final reports to stakeholders summarizing project success, budget performance, and final deliverables.
- Capital Asset Tracking: Close out the project by ensuring all capital assets are accounted for, fully deployed (Put in Service) , and properly documented with details of all Capex Cost spent.
- Capital Budget Management: Perform a final budget reconciliation to ensure the project was completed within financial constraints.