Third World Markets: Anticipating the Risksby Wayne H. Kalayjian, P.E., (M.ASCE), Manager; PricewaterhouseCoopers' Constr. Risk Mgmt. Practice, Melrose, MA,
Serial Information: Civil Engineering—ASCE, 2000, Vol. 70, Issue 5, Pg. 56-57,84
Document Type: Feature article
The market for construction in lesser-developed nations is estimated at $750 billion. Clearly, these nations represent an important emerging market for engineering and construction firms, but with new opportunity comes new risk. Among the often unanticipated realities are the need for on-site medical services, the need to pay cash for most financial transactions, the unreliable nature of communications systems, and the travel time that may be added due to the poor nature of some countries' infrastructure. Engineering companies that want to work in these nations can minimize their exposure by planning for these circumstances.
Subject Headings: Risk management | Construction management | Travel time | Financial management | Construction companies | Communication systems
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