Project Oversight & Performance Monitoring

1.1 General Project Oversight Policy

Strategic Oversight & Governance:

• Ensure all projects align with BEC Arabia’s strategic objectives and regulatory requirements.

• Establish clear oversight mechanisms to monitor project progress, risks, and performance metrics.

Stakeholder Coordination:

• Maintain transparent communication with internal teams, clients, and regulatory bodies.

• Ensure projects adhere to contractual obligations and compliance standards.

Risk Management & Compliance:

• Implement proactive risk assessment and mitigation strategies.

• Ensure compliance with KSA construction laws, safety regulations, and environmental standards.

1.2 Performance Monitoring & Reporting Policy

KPI-Based Performance Monitoring:

• Establish project-specific Key Performance Indicators (KPIs) for cost, quality, and timeline adherence.

• Regularly review performance metrics to ensure operational efficiency.

Project Progress Tracking:

• Implement real-time project tracking systems to monitor milestones.

• Conduct regular site inspections and performance audits.

Reporting & Documentation:

• Ensure comprehensive documentation of project progress, risks, and compliance status.

• Submit periodic reports to management and key stakeholders for decision-making.

1.3 Project Risk & Issue Management Policy

Risk Identification & Assessment:

• Conduct thorough risk assessments at each project phase.

• Categorize risks based on likelihood and impact to develop mitigation strategies.

Issue Resolution & Escalation:

• Establish a structured issue resolution mechanism to address project challenges efficiently.

• Define escalation procedures for unresolved critical issues.

Compliance with Safety & Quality Standards:

• Enforce strict adherence to safety protocols and quality control measures.

• Ensure project teams follow ISO, OSHA, and KSA regulatory standards.

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2. Project Oversight & Performance Monitoring Procedures

2.1 Project Planning & Oversight Procedure

Project Governance Structure:

• Assign oversight roles and responsibilities within the management office.

• Define clear reporting hierarchies and communication channels.

Project Initiation & Approval:

• Review feasibility studies and risk assessments before project initiation.

• Secure necessary approvals from management and regulatory bodies.

2.2 Performance Monitoring & Evaluation Procedure

Monitoring Framework:

• Implement project dashboards and real-time tracking tools.

• Schedule periodic review meetings to assess progress and address deviations.

Performance Audits & Compliance Checks:

• Conduct internal audits to verify adherence to project plans and compliance standards.

• Document findings and implement corrective actions where necessary.

2.3 Risk & Issue Management Procedure

Risk Mitigation Planning:

• Develop contingency plans for identified risks.

• Assign risk owners to ensure accountability for mitigation actions.

Incident Response & Escalation:

• Maintain a structured approach for incident logging and resolution.

• Escalate critical issues to senior management for immediate action.

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3. Standard Operating Procedures (SOPs)

3.1 SOP for Project Progress Review Meetings

Objective: To ensure structured and effective project performance review meetings.

Procedure:

1. Schedule regular review meetings with project teams and stakeholders.

2. Present project progress reports, KPI performance, and risk assessments.

3. Identify deviations from project plans and define corrective actions.

4. Document meeting minutes and follow up on assigned action points.

3.2 SOP for Performance Metrics Reporting

Objective: To standardize the reporting of project performance indicators.

Procedure:

1. Collect real-time project data from monitoring systems.

2. Analyze performance against established KPIs.

3. Generate structured reports for management review.

4. Recommend corrective measures for underperforming areas.

3.3 SOP for Risk Escalation & Resolution

Objective: To ensure timely identification and resolution of project risks.

Procedure:

1. Log identified risks in the project risk register.

2. Categorize risks based on impact level and likelihood.

3. Develop mitigation plans and assign risk owners.

4. Escalate unresolved risks to senior management.

5. Implement corrective actions and track resolution progress.

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Conclusion

Project Oversight & Performance Monitoring ensures that BEC Arabia’s projects are executed efficiently, safely, and in compliance with regulations. By implementing structured oversight policies, performance tracking procedures, and SOPs, the Management Office strengthens project governance, minimizes risks, and enhances project delivery outcomes. This framework ensures transparency, accountability, and continuous improvement in project execution.