Discuss the importance of project management in the light

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Reference no: EM133311166

Case Study: starting from location to economic viability. Originally planned at lengakhat, it was later shifted to a place called Lepetkata. The project is now being implemented by GAIL (a Government of India enterprise) as the lead promoter (70% share) with another public enterprise OIL (20% share) and the Government of Assam as minor partners. GAIL had to be brought in after India's largest private sector enterprise Reliance Industries backed out of the project saying that it was economically unviable. The land acquisition for the project (as of mid 2008) is yet to be completed and there is still a lot of uncertainty regarding the availability of raw materials for production. In the meantime, the project cost has spiraled many times over to INR 50 billion, which is likely to go up further.

Question (a) Discuss the importance of Project Management in the light of the above situation.

Question (b) As a project manager employed with GAIL, what would be your line of action to see to it that the project is not delayed any further?

Question (c) Why do projects suffer from time and cost overruns?

Reference no: EM133311166

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