Project Management Information System (PMIS) like PMWeb are the solutions that are best suited to capture the details of the different project management processes needed to deliver a capital project. This data provides the real-time information needed to monitor and evaluate the project’s financial, schedule, quality, safety, communication, risk among Read more…
Risk buffering (or risk hedging) is the creation of some reserve or buffer that can absorb the effects of the many accepted risks without jeopardizing the project successful delivery. Project contingency or buffering also includes the allocation of additional time for the project’s completion. Nevertheless, the risk that those organizations Read more…
In capital projects, have multiple prime contractors or bid packages to deliver the project’s scope of work is a very common project delivery practice. This enables the project owner to fast track the project’s delivery to shorten the project’s duration as well as eliminate the supervision and overhead allowance that Read more…
