Almost all project success is measured by the effective and efficient use of capital to achieve the target outcome. Too often efficiency is measured only as a function of first cost and schedule duration. Overall project ‘cost of ownership‘ should be evaluated against a wider range of key success elements.
Reliability, maintainability, operability and flexibility are key elements which work hand in hand on successful projects. MDCSystems® can help to optimize these elements through the use of risk analysis and management studies (Fault Tree, or FMEA – Failure Mode Effect Analysis) and similar front-end planning exercises can help to optimize the design and execution process. They can also serve as a sort of ‘value engineering’ session done before cost becomes an issue by identifying and separating ‘must have’ items from ‘nice to have’ items.
MDC Systems® can develop a Risk Analysis program and facilitate the execution, and evaluation of the Risk Analysis study and implementation of the resulting recommendations.
MDCSystems® provides full-service analysis of risk factors to any project. Our goal is to help prevent project failures, whether it’s safety failure, budget failure, or other construction failure. Our risk assessment service provides complete analysis of several essential areas. Our team will provide engineering failure analysis as well as architecture failure analysis to determine where along the process of design, building, and construction risk factors come into play.
Post-analysis: Our team goes a step further to implement action points to address risks and prevent failures from occurring. Like you, our goal is to complete the project with minimal risk and optimal efficiency.