A comprehensive approach to risk management may address the key issues
RegNews, September 18th, 2024: CBRE South Asia Pvt. Ltd, India’s leading consulting firm, today highlighted that as per a CBRE survey on select large infrastructure assets on risk management parameters, nearly 50% of the public infrastructure in India is unprepared for disaster planning and management and needs greater attention. India is grappling with a significant increase in both natural and man-made disasters, posing a threat to the economy, population, and long-term sustainable development.
The vulnerability to disasters is further exacerbated by a confluence of factors, including changing demographic and socio-economic conditions, unplanned urbanization, development within high-risk zones, environmental degradation, climate change, and geological hazards.
The key challenges and risk management with the central theme, “Building a Sustainable and Resilient Future”, were today deliberated upon in a joint Infrastructure Management Conference 2024 organised by CBRE and Confederation of Indian Industry (CII) in New Delhi to map smart solutions that are more effective and sustainable in the long-term.
The escalating frequency and intensity of disasters have far-reaching consequences for India. Floods, extreme temperatures, and cyclones have become more common and severe, causing widespread damage to infrastructure, loss of lives, and disruption of livelihoods.
Moreover, the country is increasingly exposed to man-made risks such as industrial accidents, cyberattacks, and public health emergencies. This underscores the importance of a futuristic vision as far as infrastructure management is concerned and how Smart Facilities Management plays a catalytic role to mitigate these risks and build resilience.
The conference uncovered unique perspectives on how Smart Facilities Management can play a crucial role in anticipating and preventing equipment failures, reducing downtime, and optimizing resource allocation in real estate assets by adopting the latest technologies and innovations including, IoT sensors, AI-driven analytics, and machine learning algorithms, to enhance the overall performance of their real estate assets.
Furthermore, better risk management practices can contribute to the longevity of assets. Regular inspections, maintenance, and upgrades can help identify and address potential vulnerabilities, reducing the likelihood of damage and ensuring the continued functionality of critical public infrastructure.
Infrastructure projects have become and will continue to become significantly larger and more complex, losses due to the cost of undermanaged risks will continue to increase. The industry experts deliberated current infrastructure challenges and unlocking insights on how strategic infrastructure management practices can foster a future where the country’s-built environment is not only sustainable but also resilient and adaptable.
Anshuman Magazine, Chairman & CEO – India, Southeast Asia, Middle East & Africa, CBRE, said, ” Inadequate risk management is a primary cause of the issues we see in infrastructure projects. This leads to direct financial losses, hindered GDP growth, and negative impacts on reputation and society. While India is progressing towards its next growth mile, backed by a resilient economy and tremendous infrastructural development, it is extremely crucial to take a proactive stance to unlock a future that is sustainable.
As infrastructure will continue to be the key growth driver, it is imperative to adopt practices that are innovative, agile, and futuristic. A clear roadmap that takes us towards this goal with precision and swiftness. This also brings to the fore the importance of robust infrastructure management practices and the crucial role facilities management plays in building a sustainable and resilient future.”
Rajesh Pandit, Managing Director, Global Workplace Solutions, India & Property Management, India, Southeast Asia, Middle East & Africa, CBRE, said, “As India continues to face growing challenges, it is imperative to invest in disaster preparedness and resilience. By adopting innovative approaches and prioritizing risk management, we can protect the population, safeguard economy, and build a more sustainable future. With a focus on sustainability and disaster preparedness, we are now delivering tailored solutions that meet current unique infrastructure management needs.
We have experts to ensure public infrastructure operates smoothly and efficiently. From routine maintenance to strategic planning, we create environments that maximize asset value. With continued efforts and adopting innovating practices, we can move beyond traditional infrastructure management practices and create an absolutely future-ready foundation.”
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