Large construction projects in emerging markets present specific risks. Corruption, human rights abuse, environmental damage, community relations conflicts and land disputes are examples of the most common problems that can harm communities, damage projects and have a negative impact on corporate reputation.
GoodCorporation has developed a specific Project Assessment Framework. Aligned to the World Bank and International Finance Corporation (IFC) Performance Standards, the framework can be used to help companies identify and mitigate the risks associated with large construction and infrastructure projects.
Following the framework ensures that the IFC Performance Standards are being met. It also provides a blueprint for managing projects in a sustainable way including appropriate engagement with all stakeholder groups.
The Framework covers the overall governance of the project and includes on-site assessment of main contractors and sub-contractors. It helps organisations to identify the business practices that are needed to protect reputation and help ensure a successful outcome.
The framework has been used on large infrastructure projects to embed good practices from the outset to ensure that the correct procedures form part of both core and flow-down contracts. GoodCorporation has also used the framework on existing projects to test that the correct procedures are being followed by main contractors and sub contractors.