BMT carried out a fit-for-purpose technical due diligence of an existing bulk chemical storage terminal in Batangas, Philippines. The customer sought out BMT specialists to identify the risks, uncertainties and the potential cost/liability exposure of the terminal and the cost of the associated mitigations.
A project risk management system was developed by BMT to provide a framework for technical due diligence activities including the assessments of the design, construction and operation of the facilities.
- HSE – Health, Safety and Environment;
- Operational aspects of the business – lease and contractual obligations and liabilities;
- Technical aspects such as integrity, asset condition, inventories of plant, structures and equipment;
- Compliance issues relating to permits, licenses, regulatory requirements, codes of practices;
- Management aspects such as systems, standards, personnel and training.
Outcome and Benefits
A project risk register was produced at the end of the assessment to prioritise risk management actions.
Appropriate risk control measures and associated cost estimates were identified to eliminate or reduce all intolerable risks to a level that is acceptable. Through the implementation of a systematic project risk management process, a number of consequential benefits were realised. These include:
- Improved planning, performance and effectiveness;
- Improved information for decision making;
- Greater time and cost certainty;
- More efficient use of resources;
- Enhanced quality of output;
- Improved communication and stakeholder relationships;
- Greater certainty in delivery, and the effective realisation of required project outcomes;
- Objective comparison of project options;
- Optimal placement of risk;
- Prioritisation of team efforts and more effective management of change.
For general enquiries relating to Technical Due Diligence and Environmental Studies for a Storage Terminal, please contact Dr. Sukhy Barhey
Dr. Sukhy Barhey
BMT Asia Pacific