Project management key for sustainable growth: Experts

MUMBAI: With the Government laying emphasis on infrastructure development in the 12th Five-Year Plan, there is a need for effective project management to achieve sustainable growth, industry experts have said.

"The biggest challenge the country is facing is implementation of infrastructure projects on time with the cost and quality being optimal. This can only happen with proper project management," CBRE South Asia Chairman and Managing Director Anshuman Magazine said at an event organised by the Confederation of Indian Industry (CII) here today.

"We are a maturing economy. Hence, it is much more important to plan, share ideas and see how project management can improve quality of infrastructure," he said.

Echoing similar views, K Raheja Corp Vice-President (Project Coordinator) Shabbir Kanchwala said, "Several projects have been stalled mainly because there has been a lack of effective management. Efficient project management can provide the necessary skill set and knowledge to augment the urban living infrastructure on a sustainable mode."

The experts also emphasised on the need for technology upgradation in infrastructure, comprehensive planning, designing and implementation, supply chain management, skill development and time management.

"India will invest USD 1.2 trillion on infrastructure in the next 20 years. There's so much demand that we will have to plan and create a road map and become master executors to reach our full efficiency as an industry. We have to meet timelines with diligence in planning, monitoring and execution," Tata Housing Development Company Chief Financial Officer Govinder Singh said.