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Modularization: Managing Project Delivery Risk in the Time of COVID

By Mauricio Villegas and Chris Loftus, Koch Modular Process Systems LLC |

Taking a modular approach to capital projects offers a pathway for companies to be proactive, rather than reactive, as they manage project risk in the time of COVID and potential similar disruptions in the future It has been more than a year since the COVID-19 global pandemic took center stage, and the uncertainty engendered by it has impacted every person on the planet. The disruption of the pandemic precipitated a cascading series of changes observed across nearly every industry. It was no longer business as usual. Although the chemical process industries (CPI) are familiar with the cyclical nature of the markets into which they sell, for the first time, the CPI faced a paradox: how to continue to execute projects on time and on budget, while keeping contractors, employees and operators safe in the midst of a public health crisis. The need to address this issue applies not only to current projects in the time of COVID-19, but also to future projects, which may face unknown and unanticipated risks from forthcoming health crises, natural disasters or other widespread disruptions. This article provides information on how modularization can help manage project risks in the new environment in which CPI companies now find themselves. COVID-19…
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