Remove Change Management Remove Information Remove Risk Management
article thumbnail

Newforma Konekt Enhances Industry-Leading Cloud-Based AECO Project Information Management Solution with Innovative System for Critical Contract Changes

Civil + Structural Engineer

BOSTON — Newforma affirms its position as a leader in project information management software with an enhanced version of Newforma Konekt, the first truly collaborative cloud-hosted ecosystem for the architecture, engineering, construction, and owner (AECO) industry.

article thumbnail

How GRC Manages Risk in Financial Operations

CCR Magazine

Managing financial operations in a world defined by rapid change and increasing complexity requires more than just traditional approaches. Governance, Risk, and Compliance (GRC) frameworks have emerged as an indispensable tool for organizations striving to navigate regulatory demands, mitigate risks, and secure their financial future.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Empowering AECO Project Managers Through Smart and Intuitive Information Management

Civil + Structural Engineer

By Victoria Salvador Project management in the architecture, engineering, construction, and owner/operator industry is part art, part science. Over time, technological change, labor shortages and the increasing complexity of projects have reshaped the role. However, you can only be as effective as the tools your organization provides.

article thumbnail

The Evolution of Digital Twins in AECO: Beyond Modeling to Intelligent Information Management

Civil + Structural Engineer

It’s not enough to simply have a digital twin—the real value lies in how we use the information they provide. Let’s explore how advanced information management platforms are revolutionizing digital twins. They’re complex information ecosystems that capture the unique challenges of built environments.

article thumbnail

Procurement Risk Management in Construction Projects: Strategies and Tools

Building Radar

Procurement risk management is a critical aspect of construction project management, ensuring that projects are completed on time, within budget, and to the required quality standards. Effective risk management strategies can help mitigate potential issues that may arise during the procurement process.

article thumbnail

Proactive Risk Management Strategies for Oil & Gas Companies

Safety Services Company

However, the industry is exposed to many risks that can significantly impair operations, the environment, and the safety of people. Consequently, risk management is crucial to identify and mitigate damages while guaranteeing the safety of workers, the general public, and the environment.

article thumbnail

What is ‘Contingency’ in Construction Budgeting: Managing Uncertainty and Risk

Building Radar

These unforeseen expenses can include anything from unexpected site conditions to design changes, material price increases, or delays caused by weather. A well-calculated contingency helps mitigate these risks, providing a buffer that allows the project to stay on track financially.