News Excerpt
NITI Aayog and Quality Council of India launched the ‘National Program and Project Management Policy Framework’ (NPMPF), envisaged to bring radical reforms in the way infrastructure projects are executed in India.

Highlight
•    NPMPF will help in realizing the vision of an Aatmanirbhar Bharat by building a stronger India with quality infrastructure; where the focus will be reducing costs and waste material keeping in mind the environment and ecology.
•    It will recognize the program and project management tools and techniques for mega projects like Bharatmala and Sagarmala.
•    The use and adoption of such techniques and practices to incorporate innovative financing with hybrid annuity models are already underway.

Analytica
    India will require an investment of around $4.5 trillion by 2040 to develop the infrastructure for sustaining its economic growth. However, the challenges in infrastructure development that often obstruct the smooth execution of projects can be a detriment. Therefore, along with numerous initiatives by the Government and guidelines advocated by NITI Aayog towards improving performance of infrastructure projects, a task force was also constituted to lay down a national program and project management policy framework.
    This framework aims to formulate radical reforms in the way large and mega infrastructure projects are managed in India, with an action plan to:
1.    Adopt a program and project management approach to infra development.
2.    Institutionalize and promote the profession of program and project management and build a workforce of such professionals.
3.    Enhance institutional capacity and capability of professionals.
    A self-paced learning system, rigorous and comprehensive exam at each level with continued professional development will serve as pillars of the framework.
    To ensure this, initiative maintains its momentum and makes an impact on projects being planned and implemented. Currently, a capability development program to create awareness around program and project management, as well as to provide capsule training for mission-critical projects, is imperative to increase the uptake and adoption of the practice.

PEPPER IT WITH
Bharat Mala, Parivesh portal, Hybrid Annuity Model, Chakravyuh Challenge of Indian Economy.