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…
The disruption caused by the Covid-19 pandemic on capital construction projects will continue to be noticed in 2021 and years to come. Governments’ unexpected massive spending to respond to the damages caused by the pandemic had necessitated many governments to enforce budget cuts for currently approved capital construction projects. This Read more…
Like the construction phase, project owners of capital construction projects need to be aware of how their projects are performing during the design phase. The progress information that needs to be communicated during the design phase differs from those in the construction phase, although the objectives remain the same. Those Read more…
