28 - 29 April, 2011 | InterContinental Grand Stanford | Hong Kong

First hand knowledge about Construction Project Risk Management from the industry experts

Survey Results January 2011

28 - 29 April, 2011 | InterContinental Grand Stanford | Hong Kong

Recently, Construction IQ conducted an online survey on construction project risk management. Some valuable statistics emerged from the results. Have a look at what your colleagues and peers in the industry had to say

28 - 29 April, 2011 | InterContinental Grand Stanford | Hong Kong

Which of the construction sectors does your current project belong to?

Buildings 26.47%

Energy 26.47%

Infrastructure 47.06%

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28 - 29 April, 2011 | InterContinental Grand Stanford | Hong Kong

What are the major risks you are exposed to in your current project?
50.00% 45.00% 40.00% 38.24% 44.12% 41.18%

35.00%
30.00% 26.47% 25.00% 20.00% 15.00% 10.00% 5.00% 0.00%

32.35%

17.65%

Safety related risks Structural design risks

Financial construction risks

Schedule delays

All of the above Workforce shortage

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28 - 29 April, 2011 | InterContinental Grand Stanford | Hong Kong

Which of the below best outlines your risk mitigation strategy?

Through a comprehensive risk management program 47.06%

All of the above 47.06%

By insuring their assets against the occurrence of such risks 0.00%

Through the implementation of sound contracts 5.88%

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28 - 29 April, 2011 | InterContinental Grand Stanford | Hong Kong

Given the change in the economic environment, what would you suggest has been impacted the most when discussing project risk management?
50.00% 45.00% 41.18% 40.00% 35.00% 30.00% 25.00% 20.59% 20.00% 15.00% 10.00% 5.00% 0.00% The profile for demand and supply is very uncertain The market is more competitive and diversified The cost of raw materials is very unstable It is harder to obtain external financing The economy is volatile, hence you need to assess risks in a project and have mitigation strategies ready to go All of the above 8.82% 32.35% 44.12%

11.76%

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28 - 29 April, 2011 | InterContinental Grand Stanford | Hong Kong

When and how a risk can be transferred into an opportunity?

The most common answers were: Risk identification and mitigation Analysis of competitor's risks When the risks are positioned and fairly distributed between the contracting parties Conducting a workshop/attending the conference in the early stage of the construction development project Discovering the risk at an early stage When prices are lower When Project Manager are alert and responsive to the changing economic environment and market forces

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28 - 29 April, 2011 | InterContinental Grand Stanford | Hong Kong

Construction Project Risk Management Asia 2011 will provide practical answers to all these fundamental questions, showcasing case studies on major infrastructure projects from across the region.
If you would like to see a copy of the conference agenda or to register, please email enquiry@iqpc.com.sg or call +65 6722 9388

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