Management consultant AT Kearney claims annual global spending on capital projects has returned to pre-2008 levels at around $11 - $12 trillion (£7.1 - £7.7 trillion), with projected growth of around 10% a year.
But the firm’s ExCap II: Top-Level Thinking on Capital ProjectsToday report, released this week, says that many of the problems that faced capital projects before the recession have not gone away, including resource scarcity, cost management, and underleveraged project portfolios.
The study found that 23% of capital projects do not meet the required financial return threshold.
It also found a significant lack of engineering and project management talent available to capital project managers.
AT Kearney compared the most successful capital delivery firms, and found that in all of them senior managers play a more active role at all stages and in all aspects of projects.