The first full-size passenger capsule in history has just been unveiled in Spain. According to some sources from inside the project, it is expected to have a first complete system up and running within just 3 years.
This is a very important milestone for the Hyperloop program, and it reminds us of several trends in project management:
1. Project contracting, and acquisitions is becoming here increasingly important:
This is just one deliverable of the Hyperloop program, and it has involved at least the following companies: Hyperloop Transportation Technologies (HTT) as leading company, PriestmanGoode as design lead, Carbures as manufacturers and Inypsa (which in fact is in the process of absorbing Carbures through the creation of the new company AIRTIFICIAL).
2. Stakeholder management is key, especially when your project is very innovative:
The first passengers will be expected to sign-off a waiver before travelling. This will happen because the regulators are working in parallel to set up the safety and legal requirements of this new transportation method. There is people from the project team in close contact with this key stakeholder.
3. Innovation projects can be powered by opening them to private competition:
One of the first companies that, instead of hiring staff, based its whole business model in open competitions to solve complex Data Science challenges was Kaggle (founded in 2010). Elon Musk replicated this model in the Hyperloop project. There are many more companies competing in this Hyperloop challenge, than the ones mentioned at the first point.
We will continue to follow this amazing race, to see who makes Elon’s dream come into reality.
Your comments are welcome!