In today’s business climate, completing a new capital project (or expanding your existing facility) can feel like swimming through a tank of hungry sharks. New technologies, tight money and schedules, an inexperienced management team, aggressive competitors, and governmental regulations are just a few of the risks that can threaten the success of your project.
Failure to anticipate and manage risks can not only impact the ongoing project but also damage a company’s overall reputation and impair its financial health. In the past year large companies and contractors have experienced financial difficulties and even entered bankruptcy after major projects missed important schedule and cost targets. In addition to impacts to the company, members of a management team that…
