Forensic delay and disruption analysis refers to the process of investigation that determines the causes and extent of delays in order to resolve disputes related to construction projects. It revolves around identification of the activities or events causing delays to the critical path and quantifying the delay caused by each event.
The analysis requires the help of experts trained in Critical Path Method (CPM) Scheduling methods. These experts are appointed by parties involved in a disputed project who come to an agreement regarding the causes of delay. In this article, we have explained how an expert performs a detailed forensic delay and disruption analysis.
How is a Forensic Delay and Disruption Analysis Performed?
A forensic delay and disruption analysis can be conducted prior to the commencement of the project as a form of risk assessment. Alternatively, it could be done during or after completion of the project to identify the causes as well as the amount of delay.
To perform a forensic delay and disruption analysis, it is essential to enlist the help of an expert. The expert performs the analysis by evaluating the planned and actual results, the type of critical delay incurred, and activities leading to the delay.
The delay analysis is all about finding details – how the actual project progressed, what activities or events had an impact on the time taken for completion, etc. And to figure this out, the expert needs to move beyond taking the project schedule at face value and evaluating its activities.
They have to go through all of the contemporary records related to the project in order to identify the actual causes and effects of the delay events affecting the critical path of the project.
However, not all projects may have the complete set of records that is needed by the expert. In such cases, the experience of the expert allows them to work out a satisfactory analysis using incomplete or inaccurate data.
Forensic Delay Analysis Methodologies
There is no standard method in forensic delay analysis that can be followed for every situation. Before deciding on the most suitable method, an expert needs to consider several aspects. These include:
- Type of required analysis- retrospective or prospective
- Requirements of the contract
- Dispute value
- Available time
- Availability of records and program information
On the basis of the above aspects, the expert identifies the most suitable methodology for analysis. In case there are experts appointed separately by both the parties involved in the dispute, the experts need to unanimously decide on a methodology to maintain ease of interpretation and comparison.
Some of the most common methods used in forensic delay and disruption analysis are as follows.
- Impacted As-Planned Analysis
- Time Impact Analysis
- As-Planned vs As-Built
- Windows Analysis
- Collapsed As-Built Analysis
To conclude, forensic delay and disruption analysis is a means of negotiating a fair result in case of a dispute related to delays in construction projects. A delay analysis expert needs to go through all the relevant records and identify the most suitable methodology to ensure that they don’t end up with an erroneous conclusion.
2021 China-ASEAN Trade and Economic Cooperation Forum
ANBOUND Regional Chief Representative (ASEAN) Dato’ Ong Chong Yi was invited as a keynote speaker at the “2021 China-ASEAN Trade and Economic Cooperation Forum” which commemorates China-ASEAN’s 30 years of dialogue relations. The forum was officiated by the Chairman of Guangxi government H.E. Lan Tianli and China’s Vice Minister of Commerce H.E. Ren Hongbin, and was held on the sidelines of the 18th China-ASEAN Expo in Nanning on 11 September 2021. Other VIPs that attended this forum include Trade Ministers and Ambassadors from the ten ASEAN countries and the Secretary General of the ASEAN Secretariat.
Dato’ Ong summed up the characteristics after China and ASEAN signed an upgraded free trade agreement in 2015, the bilateral investment and technical cooperation have also been greatly improved. We understand that the China-ASEAN Information Port has 103 key projects in total investment construction, including the Asia-Pacific Gateway Submarine Optical Cable System and the China-Myanmar International Cross-border Optical Cable Transmission System, laying a solid foundation for China and ASEAN’s future digital economic cooperation. ASEAN is the fastest growing Internet market in the world. Furthermore, Malaysia has also formulated a digital economy blueprint (MyDigital Blueprint) earlier this year. At the recently held online forum on Digital City Development in the Post-COVID Era, His Excellency Dato’ Sri Mustapa Mohamed, Minister in the Prime Minister’s Department (Economy) of Malaysia, also emphasized that it is necessary to learn from China’s successful experience in digitalization to accelerate the construction of smart cities in Malaysia. The key to the success or failure of a smart city lies in understanding the needs of the service population and the coverage of smart technologies. Sufficient funds and technologies must be available to achieve the best results. There are many successful cases in China, including Shenzhen’s new smart city and Shanghai’s Pudong Zhangjiang Hi-Tech Park, which are all successful examples worthy of learning from ASEAN countries. Cooperation in the construction of smart cities can not only drive high value-added communication infrastructure investment and service trade, but also strengthen bilateral cooperation in high-end technology fields including the Internet of Things, cloud computing, big data, artificial intelligence, 5G, blockchain and virtual reality. Cooperation to realize the upgrading of investment and industrial structure between China and ASEAN. In addition to Malaysia, other ASEAN member states such as Singapore and Cambodia also issued their own digital economy plans in 2014 and 2021, and China can engage deeper communications with ASEAN in these aspects.
In terms of trade, the main commodities traded by China and ASEAN in the past 20 years include steel products, plastic products, machinery and equipment, electronic and electrical products, and mineral oil. It is hoped that the bilateral trade structure can be optimized through high-end investment projects including smart cities and information industries, transforming the bilateral trade from traditionally commodity trade to higher-tech, high-quality, and high-quality value-added products, thereby driving the rapid growth of ASEAN-China trade. In addition, while implementing free trade agreements, there is the need to reduce non-tariff barriers and strengthen cooperation including mutual recognition of import and export standards for agricultural products and medical products, so as to truly realize the free flow of goods within the region. It is also necessary for the two sides to conduct in-depth cooperation on intellectual property rights to provide a favorable environment for the development of regional entrepreneurship and innovation.
Facing the complex international geopolitical situation and the trend of anti-globalization, the steady development of China and ASEAN is very necessary for the process of Asian economic integration. The two sides should eliminate both tariff barriers and non-tariff barriers more comprehensively, and strengthen communication in accordance with the development planning needs of each member country, deepen and expand mutual economic and trade cooperation, so as to ensure that ASEAN and China continue to regain their core positions in the Asian economy.
Digital Solutions in the Banking System
Nowadays, new technologies are rebuilding the financial services industry by actively displacing traditional players and traditional business models. The integration of new financial solutions allows banking companies to change the structure of consumption, reduce the cost of maintaining certain functionality, increase the efficiency and quality of business processes, as well as significantly affect the sustainable development of core business, etc. As a result, the financial technology industry is gradually turning into an independent intensively developing sector of the modern economy. So, what’s special about fintech? What technologies impact traditional banking systems? Let’s check them all.
Fintech’s rise in popularity began in 2008 when the global financial crisis forced financial companies to cut spending. This coincided with the rapid development of the mobile market.
This trend exists even today, thus, stimulating a core banking system to develop and look for better approaches.
Portable gadgets (smartphones, tablets, smartwatches, etc.) made it possible for a person to be in cyberspace around the clock. Accordingly, new living conditions require new ways of dealing with finances. Thus, emerging on the basis of disruptive technologies, fintech companies are successfully filling this niche. As world practice shows, such organizations react more quickly than traditional financial organizations to market changes, add completely new products and services faster. The target audience of such startups is new generations of consumers who have grown up on digital technologies.
The next generation of technologies that are directly related to the Internet is bringing the financial market to a new level. Examples of such technologies are as follows:
- Mobile technologies – The mobile infrastructure is developing rapidly. The geography of the mobile Internet is expanding, and the speed of its operation is growing. This is accompanied by the accelerating development of the mobile device market (smartphones, smartwatches, smart rings, etc.). Solutions are becoming more cross-platform and feature-rich.
- Big data – It refers to the designation of structured and unstructured data of huge volumes, as well as technologies for their processing and use, methods for finding the necessary information in large arrays. Data sources are various Internet documents, social networks, bank card transactions, radio frequency identification, audio, and video registration devices, etc. Big data analytics allows financial institutions to identify new consumer categories, create the most personalized products, etc.
- Artificial intelligence – These technologies allow the creation of intelligent machines and programs capable of performing creative functions that are traditionally considered a human prerogative. Artificial intelligence technologies allow financial companies to stay ahead of the curve and provide the most personalized service while reducing costs.
- Technologies of digital currencies – Digital currencies are monetary funds that do not have material embodiment. They can be used by both individuals and legal entities as full-fledged banknotes. To use digital payment means, there is no need to open an account in a traditional bank; it is enough to register in the appropriate payment system.
The list of modern technologies that are gradually changing the banking ecosystem is not full. Aimed at bringing the service to perfection, reducing costs, and optimizing the internal processes, banking organizations are expected to transform significantly in the near future.
Global Crypto Trading Made Easy
Cryptocurrency is becoming a popular asset to trade, sell, and exchange, and it is likely that this is going to continue as we move closer to using digital cash in everyday exchanges. The world of cryptocurrency can seem complicated to those who have no experience in the field, but it can be profitable and easy to use.
The key to getting into cryptocurrency trading and selling is to find a platform that supports these assets.
Where Is The Best Place For Crypto Trading?
Swyftx is a top-rated exchange and crypto OTC Australia platform that serves people across the globe. It is an Australian-owned and operated platform that allows for global trading and selling of all currencies, including cryptocurrencies.
It makes the trading and selling of cryptocurrencies like Bitcoin easy for anyone, no matter where they are based, due to the wide range of assets it supports. Swyftx supports over 270 digital assets and offers up-to-date exchange rates so you can always stay ahead of the game.
It also allows for OTC trading, which can connect you to another trader and offer direct contact.
OTC trading is provided to high net worth individuals as well as SMSFs and institutional clients who need to fill orders securely and swiftly.
Swyftx is one of the best platforms out there for cryptocurrency trading and selling, and they make it incredibly easy to get started.
How To Trade, Sell And Buy Cryptocurrency
Before you can begin trading, you need to first be able to buy cryptocurrencies which can be done using Swyftx. This platform has over 270 digital assets on offer and allows the trading of all currencies.
If you are looking to buy cryptocurrency, this platform makes it incredibly easy and even allows beginners to try out trading before risking capital. This can be done through the functioning demo mode, which uses real exchange rates and allows you to get started in the world of cryptocurrency without risking your own cash.
To work with Swyftx, you need to make an account.
This is a simple registration process that requires personal information to get started. Like any other registration process online, you will need to create a login that can be used every time you want to access your account for trading or selling.
To ensure that your account is safe and secure, Swyftx has a verification process. This is a fast process that can be completed within minutes online as no documents need to be sent away.
Once your identity has been verified, you can start using your Swyftx account.
Before you can buy cryptocurrency, you need to deposit cash into your account. Swyftx supports deposits up to 50,000 AUD or BTC, which can be used in the exchange and buying of cryptocurrencies.
Once you have an account, it is time to start trading and selling cryptocurrencies. There are various options, including OTC exchange which is suitable for various clients and is secure.
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