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Saudi Arabia - $ 70 billion planned projects require more investment in skills & training

Monday, 25 January 2010 02:18

Demand for workers equipped with solid project management skills has increased in the KSA following the government's announcement of a 16 per cent increase in project spending to SAR 260 billion ($ 70 billion) in 2010. The substantial rise in project funding is part of governmental efforts to attain a 4.5 per cent economic growth rate within the year.

Capacity building Saudi-based firms such as Collaboration, Management and Control Solutions (CMCS), a leading project portfolio management (PPM) provider in the region, are turning to training to fill the skilled workforce demand. CMCS has introduced the first certified Oracle Primavera training program recognized by Oracle University in the KSA to help develop project management talent across the country's project-driven industries.

CMCS is also certified by Oracle University to provide Oracle Primavera training to the other GCC countries, Jordan, Lebanon and Egypt. Meanwhile, organizations such as Aramco, SABIC, Ministry of Interior, Royal Commission and other big players in Saudi are actively encouraging their staff to take up professional training and certification courses. Bassam Samman, Founder and CEO, CMCS, said: "Projects being planned throughout the KSA in 2010 will require systematic management and a Saudi workforce capable of dealing with any possible operational problems. Our challenge is to develop and build the know-how needed by the burgeoning local projects sector to fulfil its role in sustained economic recovery."

The KSA's public expenditure could reach 35 per cent of GDP in 2010, a smaller share than last year's. King Abdullah Bin Abdul Aziz Al Saud recently said that the national budget is 14 per cent more than that of 2009. Saudi Arabia has just unveiled the largest budget in its history, forecasting SAR 540 billion in expenditures and SAR 470 billion in revenues.

The government has allocated SAR 260 billion for new investment projects and SAR 137 billion for education. The municipal sector has been granted SAR 22 billion, the transport and telecommunications sector SAR 24 billion, and the water, industrial and agricultural sector SAR 46 billion. The Saudi real estate sector is expected to post a growth rate of between 5 to 7 per cent this year until 2012, backed by strong domestic housing demand, expanding business development projects and a rapidly growing hospitality sector. Domestic property investments are expected to hit SAR 1.5 trillion in 2010, opening up various opportunities for the project-driven businesses.

"Through our partnership with Oracle Primavera we will empower project-driven organizations to create a PPM-supported environment that promotes the selection of the right projects that best fit their strategic goals and their efficient execution. CMCS strongly believes that this environment can only be created by giving organizations access to the latest PPM processes, tools and best practices. We promote an empowerment model that focuses on transferring knowledge to our clients rather than making them dependent on others to run their projects," he added.

Oracle University is the global educational arm of enterprise software Company Oracle Corp. Oracle Primavera is a leading line of enterprise PPM software for the engineering and construction sectors. CMCS maintains productive partnerships with more than 1,400 clients representing various industries such as Engineering and Construction, Oil and Gas, Utilities, Public Sector, Manufacturing, IT and Telecommunication, Financial Services, Non Government Organizations, Education and Training, Media and Entertainment. The company has received 49 Performance Awards and Recognitions from Oracle Primavera, affirming its leadership in the Middle East's project portfolio management markets.

Global Arab Network

Extracted from "Corporate release"

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Last Updated on Sunday, 24 January 2010 22:02

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