$32.10 – $42.80

RICS-AIQS Joint Seminar: Risk Management & Value Engineering - A Periodic R...

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Overview

Construction Risk Management is intended to manage and control risks associated with the planning, monitoring and execution of construction projects, whether these be of a physical or financial nature. To achieve this, it is essential to identify potential hazards and risks, assess the extent of the risk, provide measures to control the risk and manage any residual risks.

Conversely, Value Engineering is associated with improving the cost effectiveness of projects by balancing the function that is desired against the associated cost. It is a useful management tool that aims to identify the best functional balance between cost, reliability and performance of a project or part of a project.


Case studies in construction risk management

To illustrate the potential impact of poor risk management, we will look at the fall-out of the Genoa bridge collapse and the potential lessons that can be learned from inadequate risk management. With regards to value engineering, this session will also cover the very hot topic of the review of UK’s HS2 high speed rail project that is underway. This is also a critical issue a little closer to home, with the reviews that are being conducted on the possible high-speed rail link between Singapore and Kuala Lumpur.

Common pitfalls in managing construction risks

The next session will focus on the common pitfalls in managing construction risks. We will discuss the common contractual clauses concerning extensions of time, acceleration, liquidated damages and termination. In additional, we will also take a look at how a tribunal might interpret the actions of parties to a construction contract, in the context of these common clauses.

By looking through the lenses of a potential arbitration or litigation, practical insights can be extrapolated for everyday use. In exploring of the above issues, the session will cover some legal updates and do a case study on the recent UK decision of Triple Point Technology, Inc v PTT Public Company Ltd [2019] EWCA Civ 230.


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FAQs

How can I contact the organiser with any questions?

Should you required further information regarding this event, please don't hesitate to contact us at sea@rics.org or at +65 6812 8173.

Reschedule or cancellation of event

Should the participant(s) be unable to attend, a substitute delegate is always welcome. Full substitution communicated in writing is allowed up to 72 hours before the event first commences and is only accepted after RICS's acknowledgment. Please note that there will be no refund or cancellation upon registration.

If you are residing outside the city or country where the event is held, kindly arrange your travel and accommodation only after receiving an email from RICS with further details nearer to event.

RICS reserves the right to cancel or reschedule the event at our discretion. We will do our best to email all attendees as soon as possible, should this occur. Should a reschedule or cancellation occur, RICS will not be responsible for any costs, damages or expenses (i.e. travel) etc. that you may suffer or incur.

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