Order in chaos
Construction projects in the developing world will present some all-new challenges. The secret to success, says Anthony Morgan, is to expect the unexpected. Here, he outlines some of the problems that may be faced
January 23, 2002 at 07:03 PM
6 minute read
Today's global construction market is worth approximately $3.25trn (£226trn), reflecting the fact that a significant percentage of each nation's GDP is spent on construction. How long an international construction project takes and how much it costs will depend on a range of variable factors, but an experienced operator can anticipate many of the risks attributed to such uncertainties.
The economic and political climate in the host country can be a major influence on the constructor's decision whether or not to become involved in a project. For public work contracts the constructor needs to make an informed assessment of the Government's economic performance and political stability in order to be sure that it is fiscally responsible and will act decisively. There are many risks to be considered in the implementation of an international capital project, some of which will be described in more detail below.
It is not merely economic and political climates that matter: the vagaries of the weather, not to mention natural disasters, such as blizzards, monsoons and earthquakes, can play havoc with the construction timetable, as can the hidden presence of hazardous waste, archaeological remains or unexploded bombs within the site.
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