Indian growth dependent on effective infra risk management: CII Infrastructure Conference [June 2013]

Infrastructure
The greatest opportunity and challenge to India’s growth is infrastructure and the greatest challenge to the growth of infrastructure are risks — anticipated and unforeseen — which are parts of any project. Risk and its effective mitigation were discussed at the Conference on Infrastructure Project Management with the theme ‘Risk Management in Projects’ conducted by CII.
Niranjan Hiranandani, Managing Director, Hiranandani Constructions, said, “Risks are of two types. Those we can anticipate and project management people can provide for like shortage of labour, increase in taxes, inflation, increase in cost of raw material etc. But good infrastructure project management is not about these anticipated exigencies, it is about the risks that you cannot foresee like accidents, riots, epidemic in your labour force etc. How do you take into account something which you have not anticipated? The way you deal with these unforeseen risks determines the success of a project. As a good project manager, you may not anticipate the problem, but you have to attend it with equal forthrightness as you would attend to an anticipated problem.”

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