CMCS to open Riyadh office
Predicts KSA project sector to outperform GCC counterparts
Collaboration, Management and Control Solutions (CMCS) has announced plans to open an office in Riyadh before the end of 2009 in order to capitalise on opportunities in Saudi Arabia.
Having already opened an office in Khobar this week, CMCS said it would target major project-intensive sectors in Saudi Arabia, such as engineering and construction, power, energy and process, IT and telecommunications, and select governmental departments. A recent report pegs the total value of ongoing and planned property projects alone in Saudi at around US$586 billion, representing 128% of the Kingdom’s GDP.
“Project Portfolio Management is essential to the strategic realignment of the region’s project-based industries. While the concept has emerged as a key productivity enabler for all project-intensive industries across the world, it has yet to be fully adopted by regional organisations. Nevertheless, we can expect it to gain widespread popularity within the coming years. Ultimately, project-driven organisations committed to sustainability will outperform their peers by adopting project portfolio management,” said Bassam Samman, CEO and founder of CMCS.
According to CMCS, only 30-40% of Middle East companies are fully aware of benefits of PPM as a business tool.