Projects by their nature are exposed to different risks and it is the responsibility of the project management team to manage these risks. But before you can manage risks, you need to identify and quantify the risks with a view to putting mitigations in place and this is where risk modeling comes in.
Petrofac has been awarded a contract worth around US$1 billion with Groupment Isarene, the joint operating group set up by Sonatrach, Petroceltic and Enel, for the Ain Tsila Development Project in Algeria.
McDermott International, Inc. and Baker Hughes, a GE company have been awarded subsea umbilicals, risers and flowlines (SURF) and subsea production system (SPS) equipment contracts by BP for the Greater Tortue Ahmeyim natural gas project, located offshore Mauritania and Senegal.
Subsea 7 announced today the award of three contracts by Woodside since December 2018. Each contract is for engineering studies and includes an option for Woodside to proceed to the execute phase with an engineering, procurement, construction and installation (EPCI) contract.
TechnipFMC has been awarded by BP a large contract for the engineering, procurement, construction, installation and commissioning (EPCIC) of the floating production storage and offloading (FPSO) unit to be deployed offshore on the maritime border of Mauritania and Senegal.
As projects continue to find ways to optimise time, cost and resource constraints, a leading project management consultant strongly believes that blockchain technology is the future of effective project controls.