TÜV targets risk management
Spotlight on multi-contracting project management systems
The use of multi-contracting project management systems and processes is increasingly critical to economic and operational success for offshore wind developers, according to TÜV SÜD PMSS.
The global renewable energy division of technical services provider TÜV SÜD said the widespread adoption and improved focus on interface and risk management activities by developers and EPC contractors alike, to better manage multi-contracting risk, will significantly increase investor confidence, as well as reducing installation costs, thereby minimising schedule delay and improving safety, quality and environmental performance.
TÜV SÜD PMSS director of project delivery Rob Waddington said: “Up until more recent years, the use of comprehensive interface and risk management tools combined with experience has not typically been viewed as a top priority.
“Also with the shift away from utility balance sheet to project finance in Europe, and the same approach expected in the US market, it is essential for developers to demonstrate control in minimising construction risk and demonstrating a robust approach to risk management to the risk-averse investment community.”
TÜV SÜD PMSS said the most effective interface management systems “capitalise on direct experience and industry best practice, combined with simple and effective systems for mapping and managing interfaces and project risks”.
Such systems provide an early warning system for the identification of risk issues that can cause schedule delay and cost overruns.
“Together, this blend of careful management and assessment of key project parameters and data provides all stakeholders with an increased level of confidence on financial risk,” the company said.
Image: TÜV SÜD PMSS says robust risk management is key to offshore success (The Crown Estate)