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Project Risk Management

Project Risk Management The best ROI from Risk Management comes if it is conceived as a continuous support of a project from cradle to grave. It does not matter if the project is an acquisition, a strategic shift the board of directors envisions, a process change or some capital expenditure for an existing operation/infrastructure. The support includes of course scheduling and budgeting risk assessment. If the support starts at pre-feasibility level, the return on investment is the highest. However, we…

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Business Intelligence, Asset Management and Risk Assessment Based Decision Making

Business Intelligence, Asset Management and Risk Assessment Based Decision Making Today, more than ever, planners and decision makers are held accountable for outcomes often appearing to be beyond their control, generated by decisions made by others, which were made in different times and socio-economic, industrial and legal environments. Complex and interdependent systems are difficult to grasp and understand. Business systems have become overwhelmingly complex and interdependent and it is often difficult to gain clear understanding of their elements and operating…

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Discussing our prior post on Asset Management and Risk Management

Asset Management and Risk Management ISO 55001:2014 specifies requirements for an asset management system within the context of the organization. It can be applied to all types of assets and by all types and sizes of organizations. It is also the third management system to be written in the new ISO consolidated “Annex SL” format. The very important news is that Asset Management has been transformed from an isolated activity (BS PAS 55) to an activity guided by the international…

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How to Build Robust Asset Management Plans that Prepare You for the Unexpected

Build Robust Asset Management Plans that Prepare You for the Unexpected Asset Management (AM) refers to any system that monitors and maintains things of value to an entity or group. If the entity is an Enterprise, then the acronym EAM is used to define Enterprise Asset Management. AM may apply to both tangible assets such as the physical elements constituting an infrastructure, but also to intangible concepts such as intellectual property and goodwill. AM is a systematic process of operating,…

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