FIDIC’s “State of the World Report” published in 2009 identified that globalisation, information technology and urbanisation are the three mega-trends that dominate today’s world. The increasing trends in urbanisation and increases in population continue to place increasing pressure on infrastructure. It has been estimated that USD65 billion needs to be invested each year in East Asia and the Pacific area on electricity, roads, rail, water, sanitation and telecommunications to service the needs of increasing population and urbanisation. The scale of the investment required each year is vast and exceeds 6% of GDP.
Together with these pressures is a growing awareness that infrastructure projects must become more sustainable throughout their design lives. FIDIC’s “State of the World Report – Sustainable Infrastructure” published in 2012 identified that unless sustainability is identified as a priority from the conceptual stages of the project, decision makers in the later stages of such projects will be very limited in making choices that will have a profound effect on the long term sustainability of these projects. The need for high quality and effective contracts accurately identifying stakeholder requirements and reflecting accurate project costs is becoming more urgent, particularly in a post-GFC environment where sources of funding for large infrastructure projects is becoming more difficult.
The ASEAN Economic Community comprises ten nations with a combined population exceeding 600 million with a combined GDP approaching USD 4 trillion. This economic zone is becoming one of the world’s major economic zones using English as the common language for business transactions across a wide range of cultures and different legal systems.
Whilst there is an increasing need for high quality infrastructure projects in this rapidly developing economic region, there will be significant challenges in managing these infrastructure projects particularly if these projects are to satisfy long term sustainability objectives.
The presentation will outline key considerations for forming contracts for infrastructure projects and outline some of the challenges in managing such contracts within an environment of diverse cultures, significantly different living standards and various legal jurisdictions that currently exists within ASEAN.
Tim Kelly has been a PMP since 1996, and has owned and operated his own consultancy since 1991. He has almost 40 years’ experience managing and troubleshooting over 200 infrastructure projects across a variety of industry sectors including resources, ship building, heavy engineering and electrical infrastructure with some projects exceeding USD 5Bn in value. He has managed the largest shipyard in the southern hemisphere, responsible for up to 5,000 people working in excess of 20 projects at any particular time. Tim has tertiary qualifications in mechanical and industrial engineering with contract law and TESOL teaching [specializing in project applications, business & law] and is one of very practitioners holding advanced accreditation in FIDIC contracts in the Asia Pacific region.
This event qualifies for 2 PDUs. If you are a PMI Thailand Chapter member, these PDUs will be registered for you by the Chapter. If you are not a member, you will have to submit these PDUs yourself. For more information on how to submit PDUs, follow this guideline.