The following description was taken from Building in the Dark by Felix and Entwine:
We all know how critical supply chains are to construction and infrastructure projects. What kind of risks exist within these supply chains and how aware are we of them?
Risk management in construction projects
Asset owners, builders and managers have a unique position due to their heavily service-focused supply chains, often with a high concentration of high-risk subcontractors. In particular, project-based organisations also have to rapidly generate and degenerate their supply chains. Much of the publicly available research and information available on supply chain risk mitigation is focused on sectors with more stable supply chains, such as manufacturing. We wanted to provide a deeper understanding of risk in sectors with more dynamic supply networks.
Challenges
→ What is the construction supply chain, and what complexity exists within it?
→ What is supply chain risk, and how is it evolving?
→ How do your peers perceive some specific supply chain risks (e.g. compliance, performance, ESG), and where might blind spots exist?
Responses
→ How is the industry responding to supply chain risk and challenges?
→ How efficient and effective are those various risk management processes?
→ What underlying weaknesses might exist?
Opportunities
→ What risk management improvements are possible for the benefit of all?
→ What are the critical enablers of effective third-party risk management from procurement to beyond?
→ What roles do clients and project sponsors play?