Palisade was proud to recently be involved in a successful case study by L&T Institute of Project Management in India, which we covered in this blog previously. With the help of Palisade's @RISK software, the Institute was able to help engineering outsourcing firms pinpoint risks that might hamper project success.
Other media outlets took notice. APN News, an Indian online newsource, covered the project, as did the Telegraph, the largest circulated English daily in Eastern India. The India Infoline news service, part of the IIFL Group, (a leading financial services company in India) also covered the story. Analytics India Magazine, a web-based publication which serves the needs of analytics professionals in India, covered the case study in full. L&T's work was also reported on in Money Life, an Indian online webzine covering finance and economics.
The L&T Institute's cutting edge work on risk analysis as it relates to the engineering outsourcing industry has clearly made an impression on those media outlets covering the Indian business and financial world. This doesn't come as a surprise to those of us at Palisade, who understand the importance of risk management.
Dr. Chakradhar Iyyunni, Deputy General Manager and Faculty at the L&T Institute of Project Management pointed out that "as the Indian engineering outsourcing industry matures, new service offerings emerge and the cost pressures and virtualisation of work increases, we need to develop more customised and scientific approaches to project management and delivery in order to enhance the competitiveness of engineering services organisations in India."
Project risk management analysis using Monte Carlo simulation promises to allow for rapidly emerging economies, like India's, to hone their project management strategies to better compete in the global economy.
Read the Case Study: Larsen & Toubro Institute of Project Management Uses @RISK to Develop Project Delivery Schedule Identification Methodology for Engineering Outsourcing Assignments
See also: Project Risk Management Strategies Help Indian Engineering Outsourcing Firms
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