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Risk Quantification: Key to Investment Decision Making, and Project Control

How the Coronavirus is Impacting the Project Controls Landscape: A Professional Services Perspective from Cost Engineering Consultancy

I don’t think anyone has expected 2020 to be a year in which we all would be asked to stay at home, isolate ourselves, and keep each other safe by staying away from each other. But here we are, experiencing these all amid the coronavirus pandemic. Because of the self-quarantine measures and travel bans, some sectors are impacted heavily, and they are facing losses in the workforce. 

  • Risk Quantification: Key to Investment Decision Making, and Project Control

    To deliver an effective project plan, you need quality, targeted base cost and duration estimates. Cost estimating and scheduling use many techniques to translate project scope deliverable information into solid, integrated “base” estimates of time, costs and resources. However, all plans are uncertain and, at early scope definition phases, so too is the scope. So how are you going to deal with all the uncertainty? This is what Risk Quantification helps you with. 

  • 5 common pitfalls in benchmarking

    Benchmarking is widely used by Engineering and Construction firms in order to assess the performance of projects. As a project controller, are you also applying this method or are considering applying it in order to maximize your profit? If so, are you sure that you are doing it right? Here are some common pitfalls you should avoid in order to ensure a successful implementation of benchmarking.

  • Untangling Cost Estimating for Renewable Energy

    In today’s world, the main challenge facing the industries is to meet the needs of an increasing population sustainably. The process and energy industry is responding to this situation by harnessing alternate sources of energy such as solar and wind energy. 

  • How to evaluate economic bids - Without dying while trying

    Technical evaluations are often linked to a checklist with all the requirements, and once this is approved, the economic comparison of the equipment offers are executed. But is this evaluation just a ranking of the best price?