The global construction sector, expected to cross $15.5 trillion in the next five years, faces many challenges, chief amongst which is the lack of skilled people in finance, management, and technical fields. As a KPMG study revealed, India faces a severe lack of project managers, liaisoning officers and cost managers who come with adequate skills. India, which is forecast to lead the world, along with China and the US, accounts for 57% of all global growth. It’s worrying, then, that India has very few certified professionals at the helm of the mammoth industry.
Karle Infra, the Bengaluru-based Karle Groups’ Development arm, has taken lead by supporting AACE, a highly respected professional body in the field of Total Cost Management. Together, they will help India to narrow the gap by way of imparting deep technical skills in Project Management. With its 8,500 members across 100 countries, AACE is one of the most respected professional bodies in the world. AACE International and IIT Madras jointly hosted a one-day National Conference recently, titled “Powering Capital Projects through Enhanced Cost and Schedule Performance”.
AACE offers a range of certifications viz., Certified Cost Professional (CCP), Certified Estimating Professional (CEP), Certified Forensic Claims Consultant (CFCC), Decision & Risk Management Professional (DRMP), Planning & Scheduling Professional (PSP), Earned Value Professional (EVP), Certified Cost Technician (CCT) and Certified Scheduling Technician (CST) that have helped thousands of organisations across the world to save costs and time, improve efficiency, and help to enhance employee morale. AACE and Karle Infra have a long and deep relationship, with the projects head of Karle, Mr. Sankar Subrahmaniyam, is the current Chair – India Task Force and President of South India Section. Two years ago, Karle Infra supported AACE launch its India chapter. Together, they have been working to get the Indian capital projects sector streamlined. AACE, a non-profit organization, tried to reach out to corporate and professionals alike, to see the benefits of their certifications and the impact it can have on the future billions that they all control.
The National Conference was organized with two primary goals, viz. to spread awareness on the vast categories of certifications that are on offer, and to help companies get smarter by adopting methodologies that have helped thousands of companies to turnaround their fortunes.
An array of global leaders spoke at the conference, highlighting the knowledge that AACE possesses that can help organizations get more profitable. Chief amongst these were Dr. Koshy Verghese (Professor, IIT – Madras), Dr. Nick Lavingia (Project Management Consultant – Chevron), Mr. James Perry (PS Consulting), Mr. Subramanian Sarma (CEO & MD, L&T Hydrocarbon Engineering Ltd.), Mr. Shankar Narayanan (GM & Head-Strategy and Planning, L&T Construction) and Mr. Jaimin Mehta (Director – Region 8, AACEI). They covered a wide variety of topics such as Project Controls in India, Excellence in Project and Cost Management, Understanding Total Cost Management (TCM), The Role of the Modern Cost Manager and understanding how the AACE certifications help us create leaders for tomorrow.
Stressing on the need for the National Conference, Mr. Sankar Subrahmaniyam, Vice President – Project Management at Karle Infra said, “Having been in the business for over 4 decades, we have observed some grave challenges the capital projects sector in India faces. AACE’s integrated approach to portfolio, program and project management can practically metamorphose our companies. The response at the event has been great, with the who’s who of Indian Construction Sector here in attendance. We are happy to financially support the AACE National Conference this year and feel it’s our duty as leaders, to give back to the industry that we’ve helped build for 40 years.”
Said Mr. Philip Tharakan, VP International Regions AACEI, “India is a prime player in the world market over the next decade. It has been our aim to get as many people to get certifications so that they are better equipped to handle their businesses. Karle has been our well-wisher and their constant support has been a source of great encouragement for us. The National Conference was a huge success and we’re hoping to see a surge in applications this year”
The Indian government has announced its target investment of INR 25 trillion over the next three years. With India’s urban population poised to grow by a staggering 165 million by 2030, it’s time we began investing in training our real estate professionals.