Description: ‘‘Risk’’ cannot be eliminated. Organizations, therefore, need to manage all the factors that increase and reduce those risks so that they can pursue a strategic advantage at minimum costs. This includes an effective risk classification which in turn supports better risk management. In view of the definition of risk

Description: In our daily practice and here in GGC, normally we load the BOQ cost in the schedule as a lump sum by creating a global resource or an expense item. First of all, this is not a proper way to add one resource and assign it to all activities

Description: It’s during the monitoring and control phase when you must reconcile projected performance stated in your planning documentation with your team’s actual performance. Should you identify any areas where things don’t match up, take time immediately to make adjustments. As you make these little corrections along the way, you can prevent larger milestone and

Description: Earned Value Management EVM integrates project scope, time and costs through periodic measurements of actual cost and work completion. It views project progress in terms of cost as a function of time against a firm baseline set up at the start of the project. When the project is originally

Description: Since its initial introduction in the early 80’s, Primavera Project Manager (P3™) scheduling software has been a popular tool used by schedulers, project managers and claims consultants. The construction industry relies heavily on this software to develop, maintain and analyze project schedules. In 1999, Primavera introduced an entirely new

Description: FIDIC Letters by Contractor Contains: Agreement or objection to assignment by the Employer: -Request for written notification of the delegated powers of the engineer -Dissatisfaction with an instruction of the Engineer’s Representative -Request for consent to sublet -Request for clarification of ambiguity or discrepancy in the Documentation and possible

Description: Network analysis helps the manager to calculate the duration and identify critical activities in a project. Critical activities are those activities, which determine the overall duration of the project. The duration of the project is not necessarily the simple arithmetical sum of the individual activity durations because several activities

Description: A man-hour, or less commonly person-hour, is the amount of work performed by the average worker in one hour. It is used in written “estimates” for estimation of the total amount of uninterrupted labor required to perform a task. For example, researching and writing a college paper might require eighty man-hours. Preparing a family