Committee of Supply 2022 debate, Day 1: Foo Mee Har on managing risks associated with infrastructure spending
Singapore's infrastructure development and public administration have been pivotal to its economic transformation, said MP Foo Mee Har in Parliament on Wednesday (Mar 2). However, infrastructure projects come with inherent risks. Ms Foo cited a report which estimated that poor project management can cost an average of 12.7 per cent of total budget. If applied to Singapore's S$90 billion worth of infrastructure projects in the pipeline, that would constitute a potential waste of S$11.4 billion. She asked if a governance framework is in place to manage such risks, including supply chain disruptions in the post-COVID era. She also wanted to know how the Government ensures that spending on infrastructure projects consistently offers Singapore value for money and is "optimised" on a life-cycle basis.
Singapore's infrastructure development and public administration have been pivotal to its economic transformation, said MP Foo Mee Har in Parliament on Wednesday (Mar 2). However, infrastructure projects come with inherent risks. Ms Foo cited a report which estimated that poor project management can cost an average of 12.7 per cent of total budget. If applied to Singapore's S$90 billion worth of infrastructure projects in the pipeline, that would constitute a potential waste of S$11.4 billion. She asked if a governance framework is in place to manage such risks, including supply chain disruptions in the post-COVID era. She also wanted to know how the Government ensures that spending on infrastructure projects consistently offers Singapore value for money and is "optimised" on a life-cycle basis.
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