One of the key requirements for a health, safety, and environment (HSE) management plan on construction projects is to have a formal procedure for controlling activities that are considered of high-risk. The Permits to Work process allows authorized personnel to perform those activities at specified times. Requiring a permit to Read more…
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…
