DETERMINED to achieve enhanced value in projects delivery, the Nigerian Institute of Quantity Surveyors (NIQS), has renewed the call for a more systematic management of various risks in the construction sector.The concept of risk management embraces planning tools that ensure projects are delivered on time and at cheaper cost. Amongst risk factors militating against smooth operation of the construction sector, include climatic risks, design and construction risks, political risks, taxation regimes and tax incentives.While opening the workshop, Minister of Lands, Housing and Urban Development, Ms Amal Pepple, commended NIQS its innovative means of keeping abreast with evolving technological trends in the building and construction sphere.Represented by Mr. Babatunde Runsewe, she called for the blending National Housing Policies with a regular update of professional knowledge through training, such as the organized workshop by the NIQS will achieve preferred value in the construction project delivery and enhance collaboration between the public and private sectors in closing Nigeria's infrastructure gap.NIQS President Mr. Agele Alufohai, who set the tune in a paper presented at the two-day International Workshop on: 'Achieving enhanced value in construction projects delivery: The impact of appropriate risk management strategy', stated that professionals in the construction industry, like their counterparts in other industries with high risk exposure, need to have excellent ways of managing risks.Alufohai who spoke on: 'Risk in construction development: An overview of the concepts, principles and practice of risk management, stated that professionals in construction business contend with financial and contractual risks, amongst others.He explained that contractual risks are those that have to do with flaws or problems with 'contract documents, inappropriate documents or improper contractual relationships'. These problems, he stated, can in turn lead to claims and disputes, disruption or even stoppage of work, delays and inflation in costs.Similarly, he added, financial risk influences the flow of money, pointing out that this could result from non-availability of funds when they are highly needed. Alufohai said financial risks are encountered not just in the Third World but also all over the world. However, he emphasized that the problem extends to other issues in the developing countries like lack of financial infrastructure. When this is available, he stated, there is lack of robustness of such infrastructure.However, he acknowledged that some of those challenges do not pose serious threat in Nigeria, especially when one compares it to what prevails in countries like Gambia.On the way forward, the NIQS boss said that the immediate fallout is professionals need more country-specific data on those risks to really understand what they are dealing with. His words, 'Academics will in no doubt help out in this case, and professionals in the industry are encouraged to make themselves available for studies of this nature.'Guests present at the workshop included Deputy Governor, Rivers State, Tele Ikuru; Permanent Secretary, Ministry of Works and Infrastructure, Lagos State, Engineer Bamgbose Martins, who represented the Lagos State Governor; Babatunde Fashola; the Commissioner for Local Government Service Commission, Osun State, Dr Adeleke Ipaye, who represented the Osun State Governor; Commissioner for Special Duties, Anambra State, Ndubisi Menakaya, representing the Anambra State Governor; and a member of the Royal Institution of Chartered Surveyors (RICS), United Kingdom and Ireland, Mr Thurstan Ollerearnshaw.
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