FREQUENTLY ASKED QUESTIONS (FAQs)
What does NIPDEC stand for?
NIPDEC is the acronym for the National Insurance Property Development Company Limited.
Is NIPDEC a State Owned Enterprise?
NIPDEC is not a state owned enterprise. NIPDEC is a wholly owned subsidiary of the National Insurance Board of Trinidad and Tobago (NIBTT). NIPDEC is a private limited liability company which functions under the provisions of the Companies Act 1995.
Does NIPDEC sell insurance?
NIPDEC does not sell insurance. NIPDEC’s core services include real estate management, commercial (car parks and warehouse) management, facility maintenance management, procurement management, project management and construction supervision.
Does NIPDEC construct buildings?
NIPDEC is not a construction company. NIPDEC provides project management and construction supervision services for construction projects to ensure that the requirements of the Clients are met. NIPDEC’s project management services are extended throughout the project life cycle, from conceptualization to close out.
How did NIPDEC become involved in procurement?
Having managed a number of large scale construction type projects, NIPDEC developed critical skills in the procurement of specialized goods and services. NIPDEC’s experience which is supported by its rigorous tender rules and regulations has enabled the Company to provide procurement services for the Government of the Republic of Trinidad and Tobago and various State Agencies.
What is Project Management?
Project Management can be defined as the application of knowledge, skills, tools and techniques to the activities of a project (a unique, temporary endeavor within a specified budget and time frame) in order to meet or exceed stakeholders’ needs and expectations.