Project Risk Reduction
Using Project Management Modeling Tools to Quantify, Analyze and Reduce Exposure to Risk
Some project histories are very complex and traditional schedule and damage analysis methods are not able to quantify the impacts of events that have occurred over the life of the project. In these situations MDC&Reg has relied upon more sophisticated mathematical and system based models to attribute impacts to particular events. The usual methods of determining and reducing risk on construction projects include schedule forecast, cost forecasts and change review analysis performed by the project team. However, sometimes these techniques do not allow for an overview that properly adds the effects of many individual events. On these occasions the project team needs more powerful and sophisticated tools that can include multiple project factors including resource availability, site conditions, environmental factors and productivity levels for both planned and actual conditions on the project to date, all factors that cannot be completely comprehended by the project manager without the aid of analysis.
Fukushima Dai-Ichi – Black Swan Event or Engineering Design Error?
By Robert C. McCue, PE MDCSystems® Consulting Engineer Tsunami triggers destruction of nuclear reactors, Japan On the afternoon of March 11, 2011 a magnitude 9.0 earthquake struck the coast of Japan triggering a massive tsunami that ravaged the country's northern...
Risky Business: The Economic Risks of Climate Change to the United States
The U.S. faces significant and diverse economic risks from climate change. The signature effects of human-induced climate change—rising seas, increased damage from storm surge, more frequent bouts of extreme heat—all have specific, measurable impacts on our nation’s current assets and ongoing economic activity.
Design Professional’s Role in Minimizing Claims
Design professionals can play an important role in properly setting the course for the construction project, especially in minimizing the likelihood of claims and disputes. For example, not only can the architect serve as the master builder, but also as the master of dispute prevention and resolution.
The Dreaded Change Order
We have never met an Owner who was happy to hear, “We need a change order.” What we’ve learned over the years is that even though change orders are facts of life in construction, there are strategies to help you avoid them.changeorders-graphic
Change orders (CO) fall into two categories – owner driven and non-owner driven. Both can be mitigated.
Owner driven change orders happen when Owners change their minds, adding a window here or changing the carpet there. We’ve even seen buildings moved and floors added mid-project, which leads us to the first CO avoidance strategy.
Project Documentation: Win the Paper Battle
The primary goal in construction recordkeeping is to manage crucial information to facilitate decision-making. A secondary goal is to document key aspects of the project to provide an audit trail or comply with legal or regulatory documentation requirements. Frequently project participants lose sight of these two important goals; and resort to “wall-papering” the project office with reams of useless documents.
What can BIG DATA Collection and Analysis Do For Your Process Plant Profitability?
By Robert C. McCue, PE and Donald Keer, PE MDC Systems® Consulting Engineers
Process Plant profitability depends in large part on operational continuity or up-time. MDC Systems® has recently become aware of a developing technology to detect and then prevent unplanned shutdowns due to up-set operating parameters in process plants. This capability results from the real time collection and analysis of all reportable operating data…“BIG DATA.”
Process Plants typically produce more data than can be efficiently collected and reviewed by the operators. A plant with 320 tags (equipment items with associated data collection points such as pressure, temperature, flow etc), recording at 5 second intervals, will produce 5 million data readings per day. That is a billion data points over six months. Buried in this cascade of information are subtle leading indicators of up-set operating conditions.
Risk in Construction Estimating
By definition, an estimate is an approximate calculation. This inherently infers that there is a certain amount of risk involved with any estimate. The risk will vary depending on the quality and the detail of the estimate and on the detail of the design information available at the time the estimate is prepared.
The quality and detail of an estimate is usually defined in the requested scope of services. An estimate can be an opinion of cost or a detailed estimate. The opinion of cost is an estimate prepared based on a professional’s best approximation of what a project will cost.
The Role of a Construction Claim Consultant
Construction claim consultants provide a crucial role when it comes to standard of care in construction. These specialized experts know every in and out of construction and civil engineering, and can help with project management and legal advice. Because these consultants know the industry well, they can help prevent legal troubles before they start.
Installing a Solar Power System on a Residential House
In the article "Pennsylvania Solar Energy Rebate on Hold: How Consumers Can Still Save Energy" published in the February 2009 edition of the MDC Advisor®, the steps that homeowners can take in order to reduce their energy consumption were outlined. This article...