Panama Canal Expansion

The Panama Canal Expansion was the Third Set of Locks project, part of the expansion of the Panama Canal and based on an amended FIDIC Yellow book. In September 2016 the Project Contractor Grupo Unidos por el Canal (GUPC) filed its Statement at Completion stating the totality of its claims as US$5.63 billion. As of February 2017 works listed in the Schedule of Outstanding Minor Works and Defects (SOMWD) are nearing completion.

Brief

Risk and assurance including project oversight for the ACP programme. Support scaled in response to delays and disputes to include claim evaluation, dispute resolution and expert witness services.

What we did

As trusted advisors, conducted a master risk assessment, designing a five-year audit plan to improve confidence in process, procedure and performance. Assisted and advised the Client in developing key project performance indicators to monitor critical project developments and report project progress to its Audit Committee. Developed a risk tolerance matrix that identified high and moderate risk tolerance levels for potential issues and corresponding reporting protocols. Provided recommendations to minimize cost and programme impacts.

When delays and disputes arose, our role was expanded to include claims analysis, dispute resolution and expert witness services helping to mitigate potential contractor disputes.

Outcomes

Our integrated team approach with the client’s staff, employing on-the-job training and other tools ensured that knowledge was effectively transferred to the client’s personnel. The client achieved its revised opening date with global accolades and the successful opening of the third set of locks.