A Whole New Look: The Future of Funding and Commissioning
For successful commissioning to occur, the project must be well funded . In most cases , funding and commissioning are the two determinant factors of a successful project. As time goes by, decision making and procedures within projects are changing and still these two factors are greatly affected by funding. Project owners want excellent results while saving costs at the same time.
According to CORS Commissioning experts, all project planners and commissioning experts need to sit down and understand how these changes are happening. It is only through such an initiative that they will understand the trend and adapt their operations accordingly. So, what is the future of funding and commissioning? Read on .
Past Trends Tell it All
By looking at the trend from the past decade, commissioning managers can easily tell what the commissioning climate will look like in the near future . Two things come into a clear picture here: the responsible bodies in funding and those in commissioning.
In the past few years, local authorities and governments have been using their respective bodies to fund and commission projects. Government grants are now more popular than before, and this trend is likely to continue as more organizations approach the various government bodies to fund projects.
Commissioning of the national housing and other government projects is usually done by relevant governmental authorities. However, this has changed in recent years, as the authorities are now inviting private firms with the right expertise to take up some of the work of these projects. This is done with the intention to provide jobs for private firms as well as to ensure quality work.
What the Future Holds
The incorporation of more private firms to work in government (and private) projects tells us that commissioning is evolving. For those who aren’t commissioning experts, this is the process that ensures that any project meets the standards and the owner’s expectations . Commissioning managers work like auditors of the project, at all stages until completion.
Notably, there is a heavy usage of technology today and the future will only see even more sophisticated commissioning software in place. Such technology will play a greater role in ensuring managers do not have too large a workload and can instead produce accurate results. Such software will be used to:
· Check and analyze the needs of the project
· Plan the activities of a project
· Undertake purchasing and procurements of materials and equipment
· Assess and instill quality standards
Another important aspect to consider is funding of the future projects. While government grants are becoming more numerous and more generous, private investors will still need to use their savings to fund mega projects, either singly or jointly with others. Their sources of funds can also be borrowed from a financial institution or through liquidation of other businesses. All in all, funding options will be both numerous and attractive.
As a final word, the future of funding and commissioning looks promising and better organized. Technology is taking a great role in shaping the future of both . Let us watch and see how it all unfolds.