Scale Microgrids’ Post

Project finance is constantly evolving. We surveyed industry leaders across the globe about the key technologies they expect to grow, their biggest challenges, and where they need support. Uncover their insights here: https://lnkd.in/ebHa4FGX.

In an era where democratic ideals are increasingly challenged, participatory budgeting (PB) emerges as a beacon of hope. This innovative governance model empowers citizens to directly influence how public funds are allocated, fostering a sense of ownership and accountability in local decision-making. A key component of PB is the development of a budget through a participatory process, where facilitators play a crucial role in ensuring effective engagement and meaningful outcomes.

What can we learn from delivery of major projects such as London 2012 or the Millennium Dome? Really useful seven lessons in this report from the UK National Audit Office with applicability across all projects https://lnkd.in/eYuEvbiZ

Rather than waiting until you are at the stage of writing the business case, value for money should be established at the outset of #publicsector project planning and validated throughout the project’s life, say's Pace's Amy Liebig. Find out more at https://lnkd.in/eDVSCQzz

🤔 Did you know that using cost metrics can help governments figure out how to save money and plan budgets for starting or expanding projects? 📊💰 In a world where resources are limited, policymakers and agencies dealing with implementation have to work within specific budgets. Understanding the effectiveness and costs of a project helps them make smarter decisions about where to allocate their funds. 🔗 Learn more in our latest technical brief: https://lnkd.in/e_n_sJJv

The National Audit Office published a really interesting lessons learned report today on "Delivering value from government investment in major projects". It highlights six key findings: 1. In order to demonstrate value, projects need to be properly evaluated. 2. Major projects can act as a catalyst for growth. 3. A clear vision, objectives and leadership culture focused on the intended value of the project are key. 4. Many organisations and stakeholders need to work in partnership, creating a shared vision, through delivery and beyond. 5. It can take time and additional investment to realise value from major projects. 6. The potential value from a project can go beyond the value that was originally intended or expected The interesting part for me is that although some of these findings fall into the category of "read the manual" of existing rules/guidance to deliver value from projects others are in the category of "change the manual" as existing rules/guidance may be inhibiting more value to be gained - specifically finding no.3 and finding no.5 To consider ‘what can we do differently?’ the point in finding no.3 that multiple organisations coming together to contribute to value means that some of their activity may be outside the business case funding or the direct control of the programme, but it still needs organising and co-ordinating for the project to realise its full potential. How can we best achieve that? This isn't about collaborative customer/supplier relationships as expertly covered in Project13, but collaborative relationships across multiple benefit owners! Likewise finding no.5 that it can take time and additional investment to realise value from major projects could we change Green Book to allow seed funding for 'enabled initiatives', perhaps add 1% or 2% to the project budget (ring fenced from contingency) to cover this. These enabled initiatives often have Cost-Benefit ratios that are much higher than the main project, particularly for infrastructure projects. I'd welcome your thoughts...... https://lnkd.in/e_DzuqEx Great work from Lee-Anne Murray and team. #majorprojects #value Major Projects Association Donnie MacNicol

"Every standard has a story. A big part of that story is stakeholder input. Your engagement in our work drives our ability to develop and improve standards that provide investors and other capital allocators with information they will use in their decision-making process. Please continue to share your views on our projects and activities so that we can develop the best standards possible." Rich Jones, FASB Chair We invite you to explore the 2023 Annual Report, where we outline our strategic goals, milestones, and the ongoing efforts that support our ongoing commitment to our stakeholders. https://bit.ly/4cFL02C

Challenges in Public vs. Private Sector Projects Public sector projects often face stricter budget constraints than private ones. Plus maybe more red tape. In contrast private sector projects are often expected to be delivered under tight schedules. In your experience, what’s the biggest challenge in managing costs and schedule for each?

Our latest lessons learned report looks at how to make sure major projects make a difference and deliver long term value.