Key Recommendations
Conquer your CapEx costs
To address the challenge of rising equipment costs in CapEx projects, industry leaders should regularly review cost-saving initiatives, benchmark against industry best-practices, and draw insights from successful projects to adopt proven strategies. Additionally, leveraging advanced technologies, negotiating better supplier contracts, and optimizing equipment usage can further enhance cost efficiency and ensure long-term savings. By fostering a culture of continuous improvement and collaboration, organizations can stay ahead of cost pressures and maintain a competitive advantage.
Improving CapEx delivery
Leaders are still looking to increase their levels of satisfaction when it comes to delivering their CapEx Projects. To do so, leaders need to take a strategic approach to their CapEx management and align their strategies more closely with business objectives and implement robust approval processes. By adopting these strategies, leaders can transform their CapEx management processes, leading to improved efficiency, reduced costs, and better alignment with overall business objectives.
Investing in a greener future
Our survey suggests sustainability will become a key focus when it comes to CapEx projects. By incorporating sustainability considerations into CapEx decisions, businesses can future-proof their long-lived capital assets against emerging risks like climate change and resource scarcity. This approach helps avoid locking in features that could put assets at a competitive disadvantage in the future operating environment.
