Teasing out the questions around third-party risk management in construction

The supply chain uniqueness of asset builders, owners, and managers

Back to basics with risk and consequences

Types of risk consequences and examples. Adapted from the CIPS Resilience Model.
Risk domains most likely to be affected during the pandemic. Source: Deloitte

“It’s your problem not mine” is no more

Good vs bad

  • Siloed or domain-specific approach
  • Lacking or confusing measurements of success
  • Reactive to legislation with no long-term integrated plan
  • Investment not being put to good use or underinvestment
  • “Most leaders have a formal and structured Supplier Relationship Management (SRM) program in place, compared to more than 50% of other companies, which have only an ad hoc approach to SRM. Furthermore, 70% of leaders have differentiated programs for strategic and mainstream suppliers, compared to less than 5% of others.”
  • Clear owners of ultimate responsibility and budget, even though the two can be different groups
  • Integrated infrastructure to support processes that are aligned with best practices
  • And elements like in the diagram below:
Source: KPMG

Ask and you shall find the answer

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Enterprise marketplace platform that connects orgs & their supply chains. www.felix.net

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Felix

Felix

Enterprise marketplace platform that connects orgs & their supply chains. www.felix.net

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