How to Enforce the Culture of “100% Committed to Achieve” in Managing the Contractor’s Contract Price on Capital Construction Projects

For an EPC contractor, general contractor, subcontractor and other types of vendors who have been awarded lump-sum turnkey (LSTK) contracts, ensuring the actual direct and indirect costs incurred during the project execution do not exceed the final awarded contract price is a must requirement. One of the possible methods to Read more…

Is There a Way to Improve the Quality of “Gut Instinct” Decisions Made by Stakeholders on Capital Construction Projects?

Gut instinct is an instinctive feeling, as opposed to an opinion or idea based on facts. Gut instinct is also known as a hunch or sixth sense which is each project stakeholder’s primal wisdom. Humans in general have a strong addiction to their own capabilities, developed over their many years Read more…

Managing, Monitoring, Evaluating and Reporting Performance of Energy Saving Proposals for Capital Improvement Projects

One of the growing trends among capital project owners is to undertake capital improvement projects that would result in energy savings, such as right-sizing equipment, retrofitting equipment, and similar small-scale projects. Infrastructure replacement projects that provide energy-efficient alternatives for aging mechanical systems. Reducing energy consumption not only reduces the electricity Read more…