Gaining Skills to Mitigate Construction Risks

• 31 December 2015
• Local News
• 833 Views

Construction projects are a high-risk endeavor from start to finish. While world construction activities are estimated by CNBC to accelerate by $6.3 trillion, or 70 percent, by 2025, boosted by massive projects especially in Asia, risks and disputes in construction projects are getting more complicated as well.

To maximise profit and ensure the projects they handle are completed on time and within budget, stakeholders must gain better skills, knowledge and strategies to improve risk, and dispute management procedures.

Realising these loopholes, Trueventus is organising its 2nd Annual Construction Risk & Dispute Management Conference on 28–29 October 2015 in Singapore to equip participants from anywhere in the world with professional skills and knowledge so that they will be able to manage costly risks and disputes for their respective projects successfully.

“Understanding and managing risks at all phases of the project is key to safeguarding your organisation and maximising profits. Risks that are not effectively identified and mitigated results in project delays, cost overruns, and disputes which will all take a toll on your profit margins,” is the main message of the event said Karen Leong of Trueventus’s Marketing Division.

This year’s conference has been refreshed with dynamic panel discussions to create dialogue among all stakeholders in the construction process and propose solutions to some of the tough issues in construction disputes. This is an event that construction-related professionals shouldn’t miss as they will gain full updates on the latest regulatory and case law developments.

The two-day conference will touch on sensitive topics including; dealing with insolvency in construction and its distribution of claims, identifying geotechnical risk and its role in successful project delivery, comparing the pros and cons of FIDIC and NEC contracts, challenges in enforcing DAB decisions, and BIM as an essential tool in managing risks.

The conference is designed for, but not limited to, all construction-related professionals such as C-Level executives, contractors, tax, legal and insurance professionals, governmental authorities, real estate developers, and sub-consultants etc.

According to Karen Leong, the key benefits from attending this conference are; implementing lean construction techniques to minimise the risks effects on project construction time; managing mega projects, claim avoidance, mitigation and dispute resolution; developing action plan to mitigate risk in construction projects and increase profitability; discovering latest industry trends in construction insurance and performance guarantees; gaining the practical tools and strategies to maximise the opportunities offered by successful contract risk management; and mitigating exposures to delays and unsubstantiated claims.

Various prominent speakers from the world’s leading construction-related firms will share their skills, experiences and strategies with participants.

Organised as a boutique event, only about 30 more seats remained in mid- August. Participants who book and mention Construction and Property Magazine (Cambodia) will gain a 15 percent discount on the registration price.

The total course fee to attend the event is inclusive of the documentation package (worth $495) where all speakers’ presentations research/materials/ experiences will be combined for attendees, but exclusive of travel costs and accommodation. The organiser can also assist participants to get affordable accommodation rate from its hotel partner.

Besides the seminar, participants can also network with construction professionals worldwide and take opportunities for business matching.

“I believe the speakers’ experiences are far more valuable than the cost of registering and they are the main reason for participants to attend the event,” said Karen Leong.