In an article published in the fall 2019 issue of Construction Users Roundtable’s The Voice Magazine, Dan Kapner discusses managing risks to achieve successful construction projects.
“Complex construction projects, such as infrastructure projects and power and energy projects, involve numerous unknown potential consequences and outcomes due to their complexity, and therefore are inherently high risk,” he shares. “Complex projects that are built on-time, within budget, and free of major claims and disputes, almost always involve an owner and contractor that have carefully developed, at project inception, a comprehensive understanding of the risks inherent in the project and a strategic plan to manage those risks.”
Kapner highlights several best practices for mitigating risks. One crucial aspect he discusses is selecting the most appropriate project delivery method. “If the project requires the installation of major equipment, such as in a power and energy project, the owner must determine whether an EPC ‘one-stop shop’ model is available,” he explains. “Whereby the contractor will engineer and construct the project, procure and install the major equipment, and be responsible to the owner for the performance of the project.”
For the full article, click here.