Building Options at Project Front-End Strategizing: The Power of Capital Design for Evolvablilty

Guilherme Biesek and Nuno Gil, PhD

Building Options at Project Front-End Strategizing: The Power of Capital Design for Evolvability

Project Management Institute, 2014, ISBN: 9781628250428, paperback, 200 pages, $27.95 Member, $34.95 Nonmember

How do project teams overcome differences to adopt a design plan that strikes a balance between shortterm affordability and long-term adaptability? The authors demonstrate how a formal framework for design flexibility on the front end of projects encourages greater communication among team members, helps avoid risks and reduce costs, improves efficiency and assists with sound, effective decision-making. Based on project risk management concepts, real options theory and experimental results, the proposed framework improves the quality of outcomes and increases the project teams accountability during the design phase. The book shows how, despite uncertainty, capital project teams can manage potential change more effectively by adopting these principles and designing for evolvability.