Utility executives worldwide face a precarious balancing act: how to plan, build, and operate assets within an increasingly challenging business environment. A global financial crisis translates to a small pool of capital available for projects, thus driving up the cost of capital while regulatory uncertainty increases risk. Raw material costs fluctuate often, but are generally on an upward trend. Utilities face massive upgrades to aging infrastructure, so an increase in the number of capital projects in the near future is certain. The loss of institutional knowledge resulting from widespread workforce retirements within the next decade, however, leaves the current workforce at a disadvantage in managing these planned capital projects. Effective software solutions that equip utility staff – both at the executive and project level – to manage each stage of the project lifecycle will play a key role in addressing these challenges.

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