POLICY FRAMEWORK FOR INFRA PROJECTS
What’s in news?
A task force on project management suggested to develop a National Project Management Policy Framework (NPMPF) for effective execution of public sector and public-private partnership (PPP) infrastructure projects.
- The task force was headed by the by Niti Aayog CEO Amitabh Kant.
- The task force has also recommended to set up a nodal body for certification of chartered project management professionals to create world-class infrastructure in the country.
- According to the report, titled ‘The Task Force Project / Program Management’, project management, with a view to deliver on time and within budget is a learnable capability that can be institutionalised as demonstrated by the development experiences of USA, UK, UAE, and China.
- NPMPF can refer to the already available global best t standards on project/ program management, and suggest procedures and guidelines for effective project execution of public sector and PPP projects. The report also mentioned India will need 70 lakh skilled project managers in the next 10 years.
- According to a recent MoSPI report, it has been observed that more than 25 per cent of central sector projects are delayed beyond their scheduled date of completion, and there has been a significant cost overrun of around Rs 3.17 lakh crore in these projects.
- The Government of India has set ambitious growth plans and committed massive investment of close to Rs 5.97 lakh crore in the infrastructure sector in the current financial year.
- It is estimated that about Rs 304 lakh crore of investment is required in the Indian infrastructure sector till 2040 in order to sustain the country’s development.
- The mandate of the task-force included analysing the performance of public sector and PPP projects during the last decade and take stock of the current situation of public sector and PPP projects.
- It also included laying down a plan of action suggesting hort-term, medium-term and long-term strategies for improving project management practices in the public sector and PPP commensurate with the best international practices. BKS HRS.