Saudi Mega Infrastructure Projects 2012 'Think Tank' puts forth its conclusive unprecedented recommendations
- Saudi Arabia: Saturday, September 22 - 2012 at 09:23
- PRESS RELEASE
The first Saudi Mega Infrastructure Projects 2012, which witnessed huge delegate participation and was made highly successful by its high profile guest expert speakers, has finally come out with its recommendations for the prosperity and benefit of the entire mega projects industry.
Ground-breaking recommendations were preordained to come out of the summit as result of powerful industry experts' participation. The recommendations were presented by Faisal S. Alfadl, Founder of fa Partners, Head of Organization Committee of Saudi MIP 2012.
A number of presentations and panel sessions were held concerning various sectors like transport infrastructure (road, rail, and aviation), social infrastructure (education, healthcare) & utilities infrastructure (power & water, desalination, renewable, waste management). Consequently, a number of issues came up through the Think Tank sessions which were conducted throughout the three-day Summit.
After hours of brainstorming, series of presentations, panel discussions, exhaustive debates and serious deliberations, the delegates concluded on the following recommendations:
1. All Mega Projects should have data bank containing statistics, forecast, financial capability and assets of the projects, including their independent management status which is aimed to provide benefits to the Kingdom. This data bank should be accessible and transparent to all stockholders.
2. Mega projects must have a strategic national vision apart from allowing involvement in planning and development of large projects collectively and maintaining a record of activities learned
3. Delegates advised the public and private sector should establish a nonprofit institute to manage and keep all the mega records that can be of use to stakeholders like owners, investors, suppliers, etc
4. Mega projects performance should be measurable, quantifiable and manageable so as to foresee the outcomes of the projects along with its positive and negative indications
5. Encourage and support a professional certification institute, such as Non-Government organizations similar to Mega Projects Association in UK, which has the main function of taking care of industry vision of the mega projects
6. Government regulation and guidance tools should be put in place regarding the logistics EPC relationship of mega contractors with sub-contractors
7. Environmental Assessments and Green Building methodologies must be prerequisite to all Mega projects design, construction and operation in order to reduce the ecological footprint, CO2 emission and escalate Eco capacity
8. A mandatory National organizational chart should be there which points towards integrated information of mega project details to middle size and small projects. Such chart would clearly indicate the parametric project information, responsibilities of internal/external publics. There can be a web based on demand accessibility system for this purpose.
9. There should be an independent Legal system protecting the investors' interest by providing them guidance related to contractual risk management
10. Establishment of special education department for all mega project managers and implement an on-job training system.
Importantly, along with agreeing on these recommendations, the delegates also settled upon having regular Saudi Mega Infrastructure annual conferences to continue networking, having effective panel discussions to contemplate on new challenges arriving with time in the kingdom and sharing experience and knowledge with each other.
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