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| Project Management Institute Honors L&T with PMI Distinguished Project Award |
| Announcement / Corporate Nov 13, 2009, 21:24 IST |
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Larsen & Toubro Limited (L&T) was awarded the Project Management Institute (PMI) Distinguished Project Award for the Booster Compressor Platform Project (BCP-B2) located off the coast of Mumbai commissioned by Oil and Natural Gas Corporation (ONGC). This award recognizes and honors successful projects that have promoted project management concepts, techniques, practices or theories through the effective application of project management principles.
The BCP-B2 project is an offshore natural gas compression platform located in the Bassein Gas field with contract value of USD 283 million and an aggressive schedule of 26 months. It is the seventh in a series of gas treatment and compression facilities delivered by L&T, providing oil companies worldwide with the capability for gas-flaring reduction, energy conservation and gas-reinjection projects. L&T demonstrated excellent project management skills by completing the project three days ahead of schedule with a 20 percent savings on budgeted cost. This project was designated as a model project for its excellence in teamwork, planning and effective project management skills deployed by L&T.
“Challenge is the true measure of capability. It is said that a pole-vaulter cannot tell the heights he will scale until the bar is placed before him. The BCP-B2 project provided us the opportunity to affirm – to the world and to ourselves – the full extent of our competencies in executing large scale upstream projects. The project involved unprecedented scale to be achieved under an accelerated time schedule. We brought to bear the full range of expertise in engineering and design, project planning, monitoring, procurement and execution to set an industry benchmark. Looking back, it was a textbook case of integrating the broad macro perspective with a rigorous eye for detail,” said Mr. K. Venkataramanan, Member of the Board & President (O), Larsen & Toubro Limited. “Of course, project success can only be achieved in tandem with a supportive client. At every phase of the BCP-B2 project, we had the advantage of an encouraging yet demanding client. We look forward to associating with ONGC in setting more such benchmarks for the industry and for the nation.”
“L&T is an excellent model of exemplary project management efforts in its work for the BCP-B2 project for ONGC,” said Raj Kalady, managing director of PMI India. “The corporation’s proven track record and its commitment to project management excellence will pave the way to L&T’s future success.”
The PMI Distinguished Project Award will be presented today at the Project Management Conference in Hyderabad, India.
About Project Management Institute (PMI)
The world’s leading project management professional membership organization, PMI shares knowledge with nearly 500,000 members and credential holders in over 185 countries. Since 1969, PMI has impacted more than one million practitioners, businesses, governments, students and training organizations. Today, PMI’s products and services range from world-class standards for project, program and portfolio management to five professional credentials, including the gold standard Project Management Professional (PMP)®. PMI’s exclusive Global Corporate Council and European Corporate Networking Group engage large multinationals and government organizations in endorsing the value of project management. The only project management association with an established academic research program, PMI has invested more than US$14 million in support of dozens of research projects since 1997. Learn more at PMI.org.
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