One of the great challenges on capital construction projects is how frequently the project schedule needs to be updated. The common practice is to update the project schedule on a weekly basis. Bi-weekly or monthly schedule updates proved to be too long and fail to provide meaningful schedule delay alerts Read more…
Project contingency reserve is the amount to be added to the project’s baseline budget to cover the monetary impacts of project risks or uncertainties. Project contingency reserve is established for each project based on the acceptable risks, the degree of uncertainty, and the desired level of confidence for meeting the Read more…
The tendency to commit fraud is very much part of every business and capital construction projects are no different. Actually, there are more chances to commit fraud on a project than operational frauds where usually corporate policies and procedures are well enforced and internal or external audit is an ongoing Read more…
