Energy Resources Conservation Board regulates the energy sector as authorized by various acts of the province of Alberta and the regulations under those acts. These acts and regulations, as well as directives, interim directives, and informational letters, contain the requirements that govern the energy industry under the jurisdiction of the ERCB. [1]
Regulation is a pretty important word to know when it comes to the management of any particular project and or project related activity, as the regulations are absolutely imperative to the project team leader’s acquiescence to predetermined methods that have been imposed. Specifically, requirements refer to any set and specific series of rules and requirements that have been designated and imposed by a particular governmental body. These particular rules and or regulations can serve to provide the establishment of a particular and unique product, a process, and or a series of service characteristics. [2]
These products, processes, and or service characteristics can include any series of applicable administrative designations and or provisions. Typically, any and all particular rules and requirements known as regulations are required to be complied with as per the government set dictation. Most project regulations are laid out at the start of the project. This term is defined in the 3rd and the 4th edition of the PMBOK. Knowing these regulations has significant effect on designing the methods, defining scope and providing accurate estimates. [3]
References:
1. http://www.ercb.ca/portal/server.pt?open=512&objID=253&PageID=0&cached=true&mode=22. Brighthub.com
2. http://project-management-knowledge.com/definitions/r/regulation/
3. PMBOK 3rd and 4th edition
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