Today, aims are set high for the construction industry on several fronts. Adopting a better risk management practice ranks consistently high on the list of focal points. Whether your organization has experience with Quantitative Risk Assessments...
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Behind the Build
Browse our collection of construction blogs written by industry experts that offer insights on the latest trends in capital project management.
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The ever-evolving situation involving COVID-19 cases across the world is causing uncertainty in our work and private lives, forcing us all into what has been termed the “new normal.” During such unprecedented times, the impacts, particularly concerning project risk, of COVID-19 are also rippling across construction sites and organizations’ project portfolios. Prior to the pandemic, […]
Critical Path Method (CPM) is based on a very simple premise: break down the scope of a project into activities; estimate how long these activities will take; link these into a sequence and from this you can calculate the total duration of all work leading to project completion. Of course, there are some additional layers […]
Labor, materials and equipment are considered the three primary resources of any capital project. Let’s add a fourth one: time. Although obviously not a physical entity, time nonetheless is a crucial element of every project, representing the intangible measure of how those other three resources are allocated along a project’s continuum. And that measure of […]
Knowledge-driven planning has distinct advantages for capital projects. To understand why, it helps to break things down into three essential parts. First, there is calibration to ensure the durations, costs, risks and logic in your plan are relevant to what you are actually going to build during execution. Then we have validation to get buy-in […]
If you were asked to name a famous trio from pop culture, what would come to mind first? Maybe Troy Aikman, Emmitt Smith and Michael Irvin, aka The Triplets, winning three Super Bowls for Dallas in four years? How about Barry, Robin and Maurice Gibb (you know, The Bee Gees) cranking out hit after hit? […]
Artificial intelligence (AI) has been around for a while in the construction industry. Once a somewhat misunderstood concept, there’s now growing acceptance and appreciation for its capabilities. Rather than replacing human intelligence, AI is intended to work in tandem with it. This human intelligence — the expertise and experience of your project team members — […]