Managing infrastructure assets through tech

Major infrastructure projects often have a lifecycle spanning several years, during which numerous factors will change. These include the stakeholders involved in managing the project, commercial dynamics, legal and other conditions. This can lead to inefficient and ineffective management of projects. However, through collaboration with a number of contractors and smart use of technology Pinsent Masons has developed a new approach. We are changing how infrastructure projects are delivered around the globe, from procurement to completion.

The challenge

Between the procurement of a new infrastructure project and its delivery a lot can change. Time and again we see this lead to a reactive approach to managing projects. This leads to cost increases and sometimes even project failure. Our clients set us a challenge: to graft the legal and commercial insight we have developed through experience of major project delivery around the world onto a technology that would standardise a particular approach to asset management.

The solution

Pinsent Masons has developed the Procurement to Completion® advisory service, underpinned by a proprietary digital platform. This unique way of working helps users:

• Improve cash flow
• Reduce the level of disputes
• Secure better relations between project parties
• Reduce the risk of project failure
• Reduce the risk of liability for time and cost overruns

The solution is about building a historical archive of all of the information relevant to a particular asset, while simultaneously providing access to resources that will support the proactive and efficient management of the development throughout its lifecycle. Through use of the online collaborative workspace we are able to:

1. Ensure the right budgetary and legal documentation is available to the project team 24/7, alongside an auditable register of risks and issues, and critical tasks.
2. Develop a comprehensive repository of all information essential to the project, (ie. contract documents, key correspondence, organograms, etc.)
3. Provide key educational information and guidance on how risks and opportunities on the project should be managed, in real time and at the point at which the support is appropriate
4. Support ongoing monitoring and reporting of key aspects of relevance to legal teams and Head Office
5. Deliver solutions to challenges(through online Q&A, archived advice notes, client reports, and details of the project helpline number).

The result

Clients are now enjoying the benefits of using P2C in projects under development in Qatar, Australia, India, South Africa and the UK.

Our clients tell us that some of the most important benefits seem 'invisible' but carry significant financial value. For instance, disputes are being avoided through better training and early access to legal advice. Time and costs are being saved when key documents and information are easily located. Better processes around payment notices are improving the bottom line.