July 2015

Project Management

Better risk-management methods ensure project success

Management of project risk is a challenge under normal times, and this crucial activity is exasperated in complex projects as a result of the shale gas revolution.

Shahani, G., Rentschler, C., Linde Engineering North America, Inc.

Management of project risk is a challenge under normal times. However, this crucial activity is exasperated in complex projects as a result of the shale gas revolution. Pundits in successful project management nearly all point to successful risk management (RM) as a key ingredient for successful project execution. Tight schedules and insufficient resources are at the heart of the problems as projects “race” to capitalize on the less-expensive feedstocks or fuel. The authors discuss the risks across elements of a project and assess impacts in recent years. Examples demonstrate how risk can be successfully managed. In addition, alternative strategies for dealing with risk will be dis

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