Category Archives: Economics

Conducting Project Analysis: Using PIRCAD Approach Part 2

This is a continuation of Using PIRCAD Approach Part 1. If one thinks about it deeply, an analysis is only required because of change. A problem is brought to fore by something that has changed. It is solvable while an … Continue reading

Posted in Analysis, Business, Causes and effects, Construction Management, Economics, Execution Strategy, Issues and Problems, Monitoring, Opportunities, Planning and Scheduling, Progress Measurement, Project Management, Reporting, Risk Assessment and Treatment, Risk-based Management, Rufran's Blogs, Threats, Type of Analysis, Variance Analysis | Tagged , , , , , , | 2 Comments

Oil Price, Recession: Causes, Issues and Risks

As one of many whose bread and butter is in the oil and gas industry, the price of oil further plunging to around $41.35 dollars a barrel conjures a worrisome landscape. Today’s decline (August 14, 2015) is almost a full … Continue reading

Posted in Business, Causes and effects, Economics, Issues and Problems, Oil Future, Oil Marketing, Project Management, Risk Assessment and Treatment, Risk-based Management | Tagged , , , , , , , , , , , , , , , , , , | Leave a comment

SCAFFOLDING HOURS: What are they? Directs or Indirects? Part 2

In the first article on “SCAFFOLDING HOURS, What are they? Directs or Indirects? Part 1”, we looked at scaffolding hours as direct hours. We observed a project progress plan that considers all scaffolding work as direct hours, thus adding 31,518 … Continue reading

Posted in Business, Construction Management, Direct Labors, earned value, Economics, Indirect Labors, Progress Measurement, Project Management, Risk Assessment and Treatment, Risk-based Management | Tagged , , , , , , , , , , | Leave a comment

SCAFFOLDING HOURS: What are they? Directs or Indirects? Part 1

Since scaffolding can easily account for a substantial 5% to 15% or more of construction hours, it is a very significant value in terms of progress. Once it becomes a part of the progressing process, and the resources quantity uploaded … Continue reading

Posted in Business, Construction Management, earned value, Economics, Progress Measurement, Project Management, Risk-based Management | Tagged , , | Leave a comment

Risk as a Function of Time – Part 2

By this time, you should have read the first part of  “Risk as a Funtion of Time.” Let us get back to the “time component” of risk and answer a simple question made by a Transport Manager operating the Red … Continue reading

Posted in Business, Economics, Project Management, Risk Assessment and Treatment, Risk-based Management | Tagged , , , , , , , , , , , , , , , , , , , , | 1 Comment

Risk as a Function of Time – Part 1

I have just delivered a short presentation in a University project management course under sponsorship of a local oil and gas company when a student followed me out to ask about risk as a function of time. It is amazing … Continue reading

Posted in Business, Economics, Project Management, Risk-based Management | Tagged , , , , , , , , , , , , , , , , , , , , | 2 Comments

Book: Risk-based Management in the World of Threats and Opportunities

“Risk-based Management in the World of Threats and Opportunities” is now available in paperback and kindle editions. Check it out and grab a copy! https://youtu.be/wxWgYUhiWos This book provides new/additional knowledge to project management practitioners (beginners to experts), risk management specialists, … Continue reading

Posted in Business, Economics, Project Management, Risk Assessment and Treatment, Risk-based Management | Tagged , , , , , , , , , , , , , , , , , , | 1 Comment

WELCOME TO My WordPress.com Website: “Your World, Our Risk Universe”

Our Risk Universe is vast and many frontiers remain untested. Your world is the midst of it. Your world, our risk universe! Places, events, people, processes continue to change and puzzle us, even in what we might perceive as something familiar. To understand the … Continue reading

Posted in Business, Economics, Project Management, Risk Assessment and Treatment, Risk-based Management | Tagged , , , , , , , , , , , , , , , , , , | 1 Comment