The Knowledge Transfer (KT) Project is revolutionizing communication in capital projects with a remarkably simple tool – the Glossary of Common Industry and Project Terminology. This essential resource is now available for purchase in eBook and paperback formats. In early 2025 it will become available in a global distribution network of 40,000+ bookstores, libraries, and retailers.
Project teams universally struggle with communication. According to the Project Management Institute (PMI), ineffective communication jeopardizes 7.5% of a project’s budget (2013). This often results in equipment and materials being delivered incomplete, incorrect, or late, causing significant issues. Not good.
This challenge costs projects millions of dollars in delays, rework, and waste, leading to the well-known “iron law” of megaprojects: over budget, over time, over and over again!
The primary cause of ineffective communication is the lack of a common understanding of key concepts and terminology essential to project success. The Construction Industry Institute (CII) reported in 2014 that industry lacks a common language, with each company using its own terminology (2014). This issue remains a challenge and has perhaps intensified with globalization.
Miscommunication and misunderstanding permeate project communications between and within consultant, owner, supplier, and other teams. To avoid costly and undesirable outcomes, it is essential to address these root causes. So, how can projects mitigate the negative effects of ineffective communication?
Responding to this challenge, Roy O. Christensen – the founder of KT Project – spent years developing a comprehensive and industry-leading 630-page glossary. Organizations can realize significant benefits by using the KT Project glossary as a single authoritative resource for their business and projects. The KT Project also offers customized glossaries for client-specific needs. Contact us for details.
Benefits of the KT Project Glossary Include:
- Cost savings up to 7.5% of project budgets;
- Improved communications and on-boarding;
- Increased personnel and stakeholder satisfaction; and,
- Projects completed on budget and on time.
According to Mr. Christensen and other industry experts:
The belief that a glossary is too simplistic a solution, or unnecessary, is false. On the contrary, a comprehensive glossary can profoundly impact project success by serving as a single authority that benefits all users. The KT Project Glossary is particularly valuable for capital projects in the energy, industrial, mining, petrochemical, pipeline, power, and other sectors.
Purchase the Glossary of Common Industry and Project Terminology here: eBook or paperback. In early 2025 it will become available in a global distribution network of 40,000+ bookstores, libraries, and retailers.
For more information about the KT Project and enhancing your project success, use these resources.
Contact: Roy O. Christensen, RET
Media: Facebook
Media: LinkedIn
Email: hello@ktproject.ca
Phone: 1-403-703-2686
Articles:
eBook:
- Energies Media Staffhttps://energiesmedia.com/author/oilmanwp/
- Energies Media Staffhttps://energiesmedia.com/author/oilmanwp/
- Energies Media Staffhttps://energiesmedia.com/author/oilmanwp/
- Energies Media Staffhttps://energiesmedia.com/author/oilmanwp/
- Energies Media Staffhttps://energiesmedia.com/author/oilmanwp/
- Energies Media Staffhttps://energiesmedia.com/author/oilmanwp/
Oil and gas operations are commonly found in remote locations far from company headquarters. Now, it's possible to monitor pump operations, collate and analyze seismic data, and track employees around the world from almost anywhere. Whether employees are in the office or in the field, the internet and related applications enable a greater multidirectional flow of information – and control – than ever before.