Project management system: An analysis of cost and time overruns; Thermax Limited

Abstract

This report is an analysis of the Project Management System of one of the divisions of Thermax limited addressing the problems of cost and time overruns in particular. Four turnkey Projects were analysed in detail and common areas of concern were enlisted. As an ongoing effort, few organisations involving in similar operations were studied for their Project Management and this study was utilised in making some useful suggestions to improve the Project Management of this division per se. The main recommendation is that the organisation should concentrate more on controlling time overruns and on completion. of the project undertaken within the committed time. It was also suggested to incorporate an organisation structure that is most suited to execution of turnkey projects-A Temporary Matrix structure.