Chad Piersma’s Post

Capital project leaders are set to invest an astonishing $130 trillion between 2022 and 2027, marking a 70% surge from the previous five years. With spending on the rise, companies are blending tech and talent to maximize returns. As highlighted by McKinsey’s senior partner @Ishaan Nangia and partner Jae (Hoon) Jung in a recent discussion, the integration and scaling of tech enablement—such as digital twins, generative scheduling, and digital control towers—will become increasingly crucial. The potential here remains largely untapped. Discover how capital project leaders can thrive in this new era: https://lnkd.in/gYSFgjUw #CapitalProjects #TechEnablement #Innovation #ProjectManagement #DigitalTransformation

Tech-Enablement in Capital Projects: Why It’s a Game Changer. With a staggering US$130 trillion in capital spending expected globally between 2022 and 2027, it’s clear: capital projects are entering a new era, one where tech isn't just an option - it's essential. Leaders in this space, especially those navigating large-scale projects, know the stakes well. In recent insights from McKinsey & Company’s Ishaan Nangia and Jae (Hoon) Jung, we see just how impactful technology can be when applied thoughtfully. For those of us in project management, these aren’t abstract figures. The tools and strategies shared by McKinsey are real game changers I’ve seen in action. Here’s what they highlight in the attached: Digital Twins: Imagine simulating every design choice before any concrete is poured. Digital twins allow project teams to optimise design by creating a virtual counterpart of the asset. It’s akin to “testing” different choices without the heavy price tag. The result? More confident decisions and reduced surprises later on. Generative Scheduling: Gone are the days of limited project planning scenarios. With AI-based scheduling, it’s now possible to generate thousands of scenarios in minutes. I’ve seen this work wonders in planning phases for sectors like hospitals and mining, where better sequencing and resource allocation can make or break budgets. Digital Control Towers: Real-time visibility into project progress is a true game changer. These control towers act like a project’s nerve centre, letting leaders course-correct on the fly. In one project I was part of, this insight allowed us to catch potential delays and reroute resources early - keeping the timeline intact and the client satisfied. What stands out in these insights is that leading firms don’t just invest in tech; they invest equally in change management and skills development. For every dollar spent on tech, these organisations put another dollar into training, team upskilling, and robust change management processes. I see this as a cornerstone for project and practitioners success. As someone involved in projects that demand precision and resilience, I’m convinced that technology’s role in capital projects isn’t just to improve efficiency - it’s to elevate the entire delivery model. The future is here, and it’s both digital and human-centric. How is your team incorporating tech in capital projects? #CapitalProjects #TechEnablement #DigitalTransformation #ProjectManagement #DigitalTwins #GenerativeAI #ConstructionInnovation #FutureOfProjects #ChangeManagement #SmartInfrastructure McKinsey & Company Steffen Fuchs

Capital project leaders are set to invest an astonishing $130 trillion between 2022 and 2027, marking a 70% surge from the previous five years. With spending on the rise, companies are blending tech and talent to maximize returns. As highlighted by McKinsey’s senior partner @Ishaan Nangia and partner Jae (Hoon) Jung in a recent discussion, the integration and scaling of tech enablement—such as digital twins, generative scheduling, and digital control towers—will become increasingly crucial. The potential here remains largely untapped. Discover how capital project leaders can thrive in this new era: https://lnkd.in/g9q3bVik #CapitalProjects #TechEnablement #Innovation #ProjectManagement #DigitalTransformation

Capital project leaders are set to invest an astonishing $130 trillion between 2022 and 2027, marking a 70% surge from the previous five years. With spending on the rise, companies are blending tech and talent to maximize returns. As highlighted by McKinsey’s senior partner @Ishaan Nangia and partner Jae (Hoon) Jung in a recent discussion, the integration and scaling of tech enablement—such as digital twins, generative scheduling, and digital control towers—will become increasingly crucial. The potential here remains largely untapped. Discover how capital project leaders can thrive in this new era: https://lnkd.in/gHiS4iJz #CapitalProjects #TechEnablement #Innovation #ProjectManagement #DigitalTransformation

Capital project leaders are set to invest an astonishing $130 trillion between 2022 and 2027, marking a 70% surge from the previous five years. With spending on the rise, companies are blending tech and talent to maximize returns. As highlighted by McKinsey’s senior partner @Ishaan Nangia and partner Jae (Hoon) Jung in a recent discussion, the integration and scaling of tech enablement—such as digital twins, generative scheduling, and digital control towers—will become increasingly crucial. The potential here remains largely untapped. Discover how capital project leaders can thrive in this new era: https://lnkd.in/g6jx-QAa #CapitalProjects #TechEnablement #Innovation #ProjectManagement #DigitalTransformation

Capital project leaders are set to invest an astonishing $130 trillion between 2022 and 2027, marking a 70% surge from the previous five years. With spending on the rise, companies are blending tech and talent to maximize returns. As highlighted by McKinsey’s senior partner Ishaan Nangia and partner Jae (Hoon) Jung in a recent discussion, the integration and scaling of tech enablement—such as digital twins, generative scheduling, and digital control towers—will become increasingly crucial. The potential here remains largely untapped. Discover how capital project leaders can thrive in this new era: https://mck.co/40sSKlY #CapitalProjects #TechEnablement #Innovation #ProjectManagement #DigitalTransformation

Digital technology has the power to transform capital projects, helping them overcome challenges such as cost and schedule overruns. With capital project leaders expected to raise spending, McKinsey & Company’s senior partner Ishaan Nangia and partner Jae Hoon Jung describe how companies blend tech and talent to maximize returns. Find out more: https://mck.co/4fHBTRo

Capital project leaders are set to invest an astonishing $130 trillion between 2022 and 2027, marking a 70 percent surge from the previous five years. With spending on the rise, companies are blending tech and talent to maximize returns. As highlighted by McKinsey leaders Ishaan Nangia and Jae Hoon Jung, the integration and scaling of tech enablement—such as digital twins, generative scheduling, and digital control towers—will become increasingly crucial, yet the potential here remains largely untapped. Discover how capital project leaders can thrive in this new era: https://mck.co/3BwuC81 #FutureofAsia #TechEnablement

Companies across sectors are continuing to rewire their ways of working, and as part of that, we’re seeing more CEOs commit to corporate venture building. For those who are still 50-50 about turning to external capital for funding, here are my two key points: > Think about that additional access to talent and expertise. > Ensure clear expectations and funding conditions are established at the onset. On this topic, here's a must-read report I’ve co-authored with Daniel Aminetzah, Markus Berger-de León, Paul Jenkins, and Shaun Collins, representing views from Leap by McKinsey and McKinsey Digital! https://lnkd.in/eY7zV3di #NewVentureBuilding #LeapbyMcKinsey #Growth #GrowthStrategy

“The only mistake in life is the lesson not learned.” LEAP is the result of a 15-year recurring lesson. A lesson that costs industries, including the public sector, too much in wasted time and up to billions in funds. Here is what Andrew and I have learned in our years of participating in and leading large-scale transformation projects. #BigChange #Transformaton #Publicsector