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Contingency – What is It? Part 1
FROM THE DESK OF: Dick Troell, P.E. CONTINGENCY – What is it? (Part 1) Of all the terms applicable to projects, one is maligned, cursed, misunderstood, misapplied, misused, and otherwise ill-treated far more than any other. That term is Contingency. If ten project professionals were asked to give their definition of contingency, most certainly there…
Read MoreChecking the Box in Front End Loading
From the Desk of: Dick Troell, P.E. Sophisticated owner organizations have a well-documented and comprehensive Front End Loading work process. This process includes Stage Gate Reviews, through which any capital investment opportunity must pass. The Stage Gate definition most often includes a listing of the documentation required to obtain the funding and approval to move…
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