The Asia Pacific infrastructure market is expected to grow 7-8 per cent a year, reaching US$5.36 trillion a year by 2025 representing 60 per cent of the world total. This staggering statistic reveals that the industry is in the grips of enormous and irrevocable change.
As infrastructure projects become larger, more complicated, multi facets internal and external interfaces, and managed from multiple offices across different cultural and geographical locations, traditional project management approaches are not simply enough to address challenges ensuring the objectives of the project are realised safely, on time, on budget, and with all key objectives achieved.
Leo Ferro, the representative of the Australian Cost Engineering Society in NSW explains that proactive risk engineering and project controls can make a huge difference.
“Everyone knows and understands the role of project management, however effective and efficient risk management and project controls is often misunderstood and undervalued,” he says.
“Project controls engineers enhance decision making by providing integrated support for project managers in the important disciplines of planning and scheduling, cost management, change control and risk management,” says Ferro.
Ferro warns that without pro-active, forward looking project control teams, leaving your project progress monitoring to the scheduler and accountant working in isolation is not best practise for large, complicated infrastructure projects.
Between working full time and lecturing at UNSW part time, Ferro is also in the throes of organising the 2019 Risk Engineering & Project Controls Conference taking place in Sydney from 15 – 17 May. The theme for the conference is A Time for Action – Risk Engineering & Project Controls Impacting the Future.
The conference committee were keen to focus on the future in light of the Australian Bureau of Statistics latest population projection.
“By 2050, Sydney’s population is expected to reach 8.3 million and Melbourne’s will be around 8.5 million. The rapidity of Australia’s population growth is placing huge pressure on Australia’s infrastructure. We need to be looking at strategies now to successfully manage future projects,” Ferro said.
The conference offers an ideal environment to discuss and debate key challenges and opportunities in regards to how risk engineering and project controls can best support the ever changing environment of infrastructure in Australia and globally. With an impressive list of high profile international and local speakers, this is one not to be missed.
Register today or find out more here.