Project Risk Management, Naval
Naval Construction Risk Assessment
Two of the main Korean shipping yards were involved in the construction of the largest FPSO ever built. One yard was building topside modules, the other one was building the hull and integrating the modules. A detailed schedule and cost risk assessment was assigned to kwantis partner.
Shipbuilding and topsides integration of giant facilities for a deep offshore project encompasses several challenges: demanding contractors interfaces, fast-track construction, technical complexity, bottleneck management of dry-dock and offshore commissioning. The activity started from the project risk register, performing interviews with project and contractors experts directly on the yards. A detailed time and cost integrated probabilistic model was then built
"uncover project criticalities, thanks to the integration of time & cost uncertainties"
Thanks to the probabilistic model, the relative criticality of each work package was accurately assessed, and investment contingencies were re-evaluated, together with the elaboration of an acceleration plan through incentives/penalties schemes.