Carlisle Spray Foam Insulation’s Post

What is covered by contingency funding? I like to break projects into two buckets: 1. Business Scope - what are the outcomes of the project supposed to be? 2. Project Scope - how do we translate this Business outcomes into tangible assets and specs? All changes within #2 are covered by a proper contingency through quantitative risk analysis (QRA). Changes to #1 are "get out of jail free" cards for the Project Team as they effectively create a new project. For a pipeline project Business Scope statements would be: move 100,000 bpd from point A to point B with 98% reliability with frequent batching. The project scope might include 20" line, a river crossing with automated block valves, 5000hp pumps with a hot spare and pig launcher/receiver system. Increasing the capacity of the line from 100,000 to 120,000 is a different business scope and not covered by contingency. Realizing that an auto-pigging system is more desirable than a manual pig launching (for batching sequences etc) is a change within Project Scope and covered by contingency (albeit I would hope this was finalized well before the class III). #risk #contingency #Projectplanning

💡🏡 Explore the power of our Reserve Studies – the key to effective planning, risk management, and maximizing property value. Ready to chart a secure course for your community? Click the link to discover engineering excellence! Criterium-dudka.com/HOA

💡🏡 Explore the power of our Reserve Studies – the key to effective planning, risk management, and maximizing property value. Ready to chart a secure course for your community? Click the link to discover engineering excellence! Criterium-dudka.com/HOA

💡🏡 Explore the power of our Reserve Studies – the key to effective planning, risk management, and maximizing property value. Ready to chart a secure course for your community? Click the link to discover engineering excellence! Criterium-dudka.com/HOA

💡🏡 Explore the power of our Reserve Studies – the key to effective planning, risk management, and maximizing property value. Ready to chart a secure course for your community? Click the link to discover engineering excellence! Criterium-dudka.com/HOA

While many facilities approach traditional CML Optimization with the elimination of CMLs in mind, the focus should first and foremost be on effective risk management and risk reduction. Condition Monitoring Optimization, a data-driven methodology by which inspection scope, techniques, and intervals are determined and dynamically updated as new information is available, enables facilities to confidently prioritize CMLs and determine when additional #data is required, #inspection adds little or no value, or corrective #maintenance is needed. Download our eBook or watch our presentation to learn more: https://lnkd.in/gqrfKXn4 #datadrivenreliability #pinnaclereliability #reliability #conditionmonitoring #assetintegrity #mechanicalintegrity #oilandgas

Heat network optimisation studies rely on a systematic process. Step 1. Carbon monoxide check outside and inside the plant room. Step 2. Complete CITB - Point of work risk assessment.

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Here it is! The next in the series “So you want to be a Risk Engineer.” How to Identify risks in energy facilities: Take your time. Enjoy. Please comment. https://lnkd.in/g2rJDAe3

"Decoding the Risks of Transient Voltage for Transformers." The event provided a comprehensive understanding of the intricate risk factors associated with transient voltage and its impact on transformers. Engaging discussions and expert insights offered valuable strategies for risk mitigation in power infrastructure. Grateful for the opportunity to learn and network with industry leaders! Joern Brandt Pawel Klys Zeynep Şenses Suhel Patel Müge Özerten #TransientVoltage #Transformers #RiskMitigation #PowerInfrastructure #ConferenceInsights