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

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 short-term 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 decisionmaking. Based on project risk management concepts, real options theory and experimental results, the proposed framework improves the quality of outcomes and increases the project team's accountability during the design phase. The book shows how, despite uncertainty, capital project teams can manage potential change more effectively by adopting these principals and designing for evolvability.