Risk is inherent in infrastructure and construction and isn’t something which can be eliminated. But it is something which can be managed, dealt with and minimised. This is critical to successfully getting the public the infrastructure services they need.
The UK's Infrastructure and Projects Authority defines risk as the uncertainty of outcome, whether a positive opportunity or negative threat, of actions and events that may be within or outside the control of a project.
After decades of underinvestment, countries across the globe are catching up on transit development. These large complex projects have a higher risk profile due to their size, the areas they impact, and the fact they often run through more heavily populated areas.
At this roundtable, attendees from around the world explored best practices in managing project risks from planning, procurement, contracting, delivery, and handover and where can governments, both as clients and as regulators, best make a difference. There is plenty of guidance and best practice, but this needs client leadership – this is when real change will happen.
Presidential Roundtable summary: Managing risk in major transit projects – sharing global lessons
Content type: Policy
Last updated: 21/07/2022