A Risk-Management Approach to a Successful Infrastructure Project
Beckers, Frank and Uwe Stegmann. “A risk-management approach to a successful infrastructure project.” November 2013. McKinsey&Company. Web. 14 September 2019.
The article by Beckers and Uwe talks about the factors that need to be taken into consideration when ensuring that the infrastructure projects go as planned. In particular, it lays down the risk factors that have to be considered as one is involved in the projects. These include cost overruns, delays, and poor planning (Beckers and Stegmann). These risks may occur at different stages during the project. If the managers are not well-informed on these barriers, then problems may arise, such as, a drop in the value, loss of expected revenue, and demotivation of the shareholders.
Managers must have certain solutions readily available to them. These include supplementary sources of finances and qualified personnel. At the planning stage, individuals are encouraged to have a comprehensive conceptual framework, a strong set of practical approaches, and a viable implementation framework (Beckers and Stegmann). The design chosen must be one with the least risk occurrence ratio. Therefore, the decision-making process has to be well thought of. This is because problems such as non-performance by certain parties and lack of enough funds may always be tackled in advance.
The article is well-written. The authors have relied on information from viable sources, such as Reuters and completed as case study on the same. Therefore, the findings show the proper ways of dealing with the problems that may occur. Also, the use of graphs and table to represent the information has made it an easy read. Conclusively, this work has been able to duly address the risk factors that projects may face and the recommendations.
Beckers, Frank and Uwe Stegmann. “A risk-management approach to a successful infrastructure project.” November 2013. McKinsey&Company. Web. 15 September 2019.