https://www.petroglyphprojects.com/wp-content/uploads/Petroglyph-BLOG-POST-GRAPHICS-3.png 540 960 lorne.duncan http://www.petroglyphprojects.com/wp-content/uploads/petroglyph-logo-2018-wordmark-white-150px.png lorne.duncan2020-12-01 18:42:142020-12-01 18:42:14How Elecosoft’s Powerproject Mitigates Risk and Reduces Cost
One of the main reasons for the typical budget and scheduling overages on infrastructure projects is oversight, or to be more accurate, a lack of it.
No matter how competent, experienced, brilliant and talented the project team, there always exists two barriers to completing the project on or close to baseline.
The first is perspective.
The tunnel vision that occurs with an unrelenting focus on a specific outcome is well known to make even the most seasoned pros blind to alternative perspectives.
The second is the element of human error.
The more involved a party is with the project details the harder it is for that party to objectively assess their work and check it for errors.
Mired in the complex details of defining the ROW, allocating resources, sourcing bids, obtaining environmental assessments and the myriad of other overlapping tasks required to begin work on a complex infrastructure project, project teams simply cannot assess their own work for accuracy.
Project planning teams then fall prey to a short sighted approach to the evaluation, risk and feasibility assessment of the project they are working on.
They’re too close to the project to be objective, so much so they can become blind to errors or missed details.
In the world of infrastructure development, these errors and missed details can translate into billions of dollars in overages, claims and penalties.
The good news is that simply by choosing a third party to provide the power of perspective, many engineering, project owner and construction companies are completing projects on target.
Obtaining a thorough understanding of both the risks and opportunities of a project is a key strategic move and an investment in success that more and more stakeholders are insisting upon.
Many organizations and project owners are mandating the inclusion of a formal risk assessment as part of the criteria for the project, prior to seeking sanction.
By proactively managing the two known and inevitable shortcomings of a dedicated project team, whether due to internal or external mandate, smart firms are saving face and standing a head above their competition in an industry rife with overrun costs and schedules.
In comparison to a delayed project, the costs of a third party risk and feasibility assessment provided by an experienced firm with a track record of excellence, are negligible.
By challenging or validating the project team’s work far in advance of breaking ground, more and more companies are understanding the value of a comprehensive understanding of what success looks like and how it can be obtained with the proposed project.
Why Choose Petroglyph Projects for your Risk Assessment needs:
All too often, less experienced risk facilitators apply complex and non standardized statistical techniques and jargon which isolates the project team and makes the outcomes challenging to decipher and apply.
Some risk facilitators approach sensitive and sometimes controversial discussions from a less than collaborative approach, thereby disabling the efficacy of the process and outcomes.
Our schedule analytics and risk workshops are conducted by experienced workshop facilitators with a proven track record in project controls, planning, and risk assessment workshops.
Our approach to risk assessment is different.
We’ve found that by leveraging the expertise of the project team, applying straightforward risk gathering techniques and relevant risk templates we are able to effectively build an accurate risk model.
In our risk assessment workshops, we work with the project team to identify and obtain consensus on the key risk drivers, and areas of the most uncertainty. While the project team provides clear, concise, and accurate risk inputs we are able to work on the advanced analytics and model building.