Cost overruns, delay of completion, and diminished product performance can occur in even the best-planned projects. These occurrences can be attributed to events that adversely affect the project and its successful completion.

Identifying and managing risks to the project – from initial planning through procurement, fabrication, construction and commissioning – has become essential to delivering the project on time and within budget.

CALTROP views Project Risk Management as an indispensable component of successful project management. Project Risk Management is a process – an organized assessment and control of project risks, and the exploitation of opportunities. It becomes an integral component of project management.

Our approach is to interact closely with our clients to design, select and implement a plan for risk management – whatever is most appropriate for the project and the client.

CALTROP’s services provide the following benefits:

• Avoid project planning and execution surprises
• Reduce the incidence of cost overruns and late completion of projects
• Establish and maintain adequate contingency reserves based on knowledge of the risks
• Obtain early warning of threats to goals and targets, and develop a recovery plan
• Take advantage of opportunities for improving the project
• Create a realistic basis for management reporting, and an aid to project planning and execution decisions
• Enhance strategic, operational, and financial decision-making by evaluating the risks and benefits of projects