The Caribbean Development Bank (CDB) has launched a Rehabilitation and Reconstruction Project in the British Virgin Islands (BVI), which will assist the country in recovering from the effects of Hurricane Irma. The Project, which was launched on April 10, 2018, will be funded through a USD65.3 million (mn) loan and a USD300,000 grant.
Speaking at the launch, Diana Wilson Patrick, General Counsel, CDB, noted that the Project is a further extension of CDB’s efforts to help BVI recover from the impact of the extreme weather event. In the immediate aftermath of Hurricane Irma, the Bank provided an Emergency Relief Grant of USD200,000, and Immediate Response Loans totalling USD2.25 mn.
“It was with a sense of some pride that the management and staff of the Caribbean Development Bank were able to work with our counterparts in the Government of the Virgin Islands to have financing towards the proposed rehabilitation and reconstruction activities approved by the Bank’s Board of Directors on December 14, 2017. This was a mere three months after Hurricane Irma caused the loss of four lives and an estimated USD3.6 billion in damage to homes, schools, infrastructure, public administration and defence and several other sectors; disrupting the lives of the country’s men, women, boys and girls.”
Premier and Minister of Finance, Dr. The Honourable D. Orlando Smith said that the Project was timely, as it will assist with recovery, rehabilitation and reconstruction.
“It is time to get our livelihoods back on track. It is time for us to get on with the several projects and initiatives that are identified for each ministry in the loan agreement. And, it is time to weather proof our infrastructure and rebuild it in a way that offers some resiliency to unprecedented weather patterns.”
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The University of the West Indies’ Seismic Research Center (UWI-SRC), in collaboration with the National Emergency Management Organization (NEMO), recently launched a project to prepare communities to manage potential impacts of La Soufrière Volcano and related hazards.
The “Volcano-Ready Communities in St. Vincent and the Grenadines” project targets 12 towns and villages in the high-risk zones of La Soufrière. It specifically seeks to improve early warning and alert systems; train early response and risk assessment teams; develop a “Volcano-Ready” framework and toolkit for communities; and create public education and awareness materials to be shared with schools, businesses, and residents.
“We want to ensure that people here can live safely and resiliently and enjoy their lives, so that when bad things happen because of the environment that [they] won’t be knocked back as badly,” said Dr. Richard Robertson, Director of UWI-SRC.
He further explained, “When we speak about ‘Volcano-Ready communities’ we’re speaking about it in the context of a volcanic environment. Yes, the volcano erupts from time to time, but the very nature of the volcanic landscape is such that it poses certain hazards. For example, all of the loose material around is great for crops and farming, but it means that when rain comes, it strips off the materials and creates flash floods. When you have a storm, because the land falls away so quickly, storm surge comes in and damages the coastline. So, you’re really in a multi-hazard environment.”
Following successful completion of the project, St. Vincent and the Grenadines will be the first country in the Region to hold a “Volcano-Ready” designation.
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One of the frequently unspoken facts about projects are that they are riddled with risks. Accordingly, it is crucial that they be identified and managed in order to limit the damage they can cause to a project, which can range from requiring minor adjustments to be made, to the project having to be abandoned. Below are five tips that can help you get in front of those challenges.
1. Identify the risks as early as possible
In order to be prepared, and positioned to be proactive, try to identify as many risks as early as possible. It is recommended that a comprehensive list be made, and consultations be held with key stakeholders and resources to ensure that the list is as complete as possible. It should be noted that some of the risks should have been identified when responding to the tender or bid request; as frequently, it is highly beneficial to communicate how you and your team would manage some of the anticipated challenges.
2. Ensure all of the project team is involved
Although the project lead or project manager may have ultimate responsibility for risk management, all project team members should be aware of the risks, as their actions and omissions could exacerbate, or aid, a situation. The key to managing risk is being able to be proactive and strategic, which tends to be more likely to occur when there is a keen spirit of collaboration and collective responsibility among the project team to provide early warning of imminent challenges, and so limit the possible fallout.
3. Analyse and prioritise the risks
All risks are not created equal. A distinction could be made between those that could have major or significant consequences if they occur, along with the probability of a particular risk occurring in the first place. The analysis and prioritisation of all the risks compiled is crucial. However, a project does not exist in a vacuum. It is continually evolving, and correspondingly, the risks are also changing. As a result, it is recommended that the identified risks are regularly re-analysed and re-prioritised as needed, to ensure that they properly reflect the (current) challenges and threats to the project.
4. Develop and implement risk management strategy
In being proactive, it is possible to mitigate and even avoid some of the effects of the risks associated with executing a particular project. Hence, having identified and analysed those risks, it is recommended that strategies be developed, and implemented as appropriate, to manage them.
5. Keep all parties notified and updated
Finally, in addition to your team members, who should be regularly engaged on this matter, the client and other partners should also be made aware of the risks associated with the project, and advised should there be any new developments. Many clients are not fully aware of the challenges a Consultant or Vendor (of goods and/or services) can experience whilst executing their project. However, when they do rear their head, it may be necessary for the project implementation plan, or even the project scope, to be adjusted. Hence, having the cooperation and support of the client and other partners will be crucial, especially if a major change to the project is required.
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Ecorus Projects BV has been selected as preferred bidder in Saba Electric Company NV’s solar tender, according to a notice on Monday.
The company, which supplies electricity on the Saba island in the Dutch Caribbean, sought to award contracts for the engineering, procurement, and construction (EPC) of a photovoltaic (PV) park of at least 1 MW, and for its operation and maintenance (O&M) over 10 years.
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From time to time, and as part of your bid submission, or response to a request for proposal or request for quotation, it may be necessary to include a warranty for the goods and services to be delivered. Without a doubt, offering a warranty can improve the attractiveness of your offer considerably, but the decision to offer it ought to be carefully considered. Here we outline a few pros and cons.
Pro #1. Offers some assurance to Clients
A key benefit of offering a warranty (or guarantee) is that it can lower prospective Clients’ hesitation to procure goods or services from you. Essentially, you are providing some assurance that in the event the goods or services are faulty, or not performing as expected – but excluding certain circumstances that you should specify – the Client will not be left in the lurch, and you will remedy the problem.
Pro #2. Differentiates your submission from the competition
Second, when, as part of your solicitation response, you offer a warranty, or guarantee for goods or services that you can provide, it can be a means of differentiating your submission from those of other bidders. In some instances, the Client requests all bidders to include details on the warranty or guarantee they intend to offer. However, in the instances where it is not stipulated, inclusion of such terms can offer you a distinct competitive advantage, and increase the overall attractiveness of your submission.
Pro #3. Can be considered a declaration of confidence
Finally, in offering a warranty (or guarantee), it means you are prepared to absorb the cost and effort to remedy problems Clients experience. Such a posture can be seen as a declaration of your confidence in the quality of the products and/or service you deliver, which can also help in assuring the Client of your superior offerings, thus differentiating your submission from other competing responses.
Con #1. Attracts miserable Clients
On the flipside, offering a warranty or guarantee can be a licence to Clients to expect that you will be at their beck and call. Although most Clients are honest, there are a few who will try find ways and means of exploiting this benefit, which ultimately costs you, the Consultant or Vendor, in both time and money
Con #2. Impossible to meet all expectations
Another disadvantage of offering a warranty or guarantee is the fact that very rarely will you be able to provide a solution that is absolutely perfect, and meet all of the Client’s expectations. The situation is further compounded if the challenges the Client is experiencing is outside the terms under which the warranty would be honoured, which in turn, can strain your relationship with the Client, and loss of future business.
Con #3. The administrative headache of a longstanding commitment
Finally, in offering a warranty or guarantee, it means that you (or your organisation) are prepared to honour that commitment, which may be effective for several weeks, months, or even years. It as means that adequate administrative and client management provisions would need to be made to, among other things, keep track of Clients, and the products and the services provided, should – sometime in the future – a matter need to be revisited.
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