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Human Factors, Safety

Estimated reading time: 5 minutes   Within a reliability-centered maintenance approach, preventive and predictive maintenance are top 2 most popular proactive methods of conducting maintenance. This prevents sudden issues or breakdowns from happening on your assets. Sudden breakdowns largely affect production, failure to achieve production target, the lack of personnel, unprepared spare parts and more.…

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Project Risk Management

Estimated reading time: 5 minutes   Project risk management is defined as the process of identifying, analyzing and then responding to any risk that arises over the life cycle of a project to help the project remain on track and meet its goal. Risk management is not a reactive approach, but a proactive approach that…

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epc-construction-contracts

Estimated reading time: 6 minutes     There are several key success factors to manage EPC contracts. These types of contract are often referred to as Engineering, Procurement and Construction (EPC) contracts or Turnkey contracts. A properly drafted EPC contract ensures the contractor have limited ability to bring claims for extensions of time and additional cost. Organisations are…

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Plant turnaround and shutdown

Estimated reading time: 4 minutes   Turnarounds are major events for refineries and other petrochemical facilities. They typically cost significant sums of operational expense and capital expense money to execute. There is a major loss of revenue when the facility is shut down, causing lost opportunity cost and profits through lost production. If poorly managed,…

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Typically, cost management is concerned with the process of planning and controlling the budget of a project or business. it is inclusive of activities such as planning, estimating, budgeting, financing, funding, etc. Cost management is incorporated into the full life cycle of a project from the start till the end. There are typically four steps…

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