1 min read
Infrastructure & Third Parties
<p><p style="margin-bottom: 0.28cm; line-height: 107%"><b>Weighing the Risk</b></p></p>
This feature article in Commodities Now warns of the dangers of failing to conduct assessments of third-parties to detect and prevent risk. Companies in infrastructure operation interact with a large number of third parties, including their customers, contractors, suppliers and commercial agents. Risk can include financial issues during the relationship, leading to delays in work and overall contract delivery; argumentative behavior, leading to delivery delays, additional costs and having to dedicate more company time and resources to manage the relationship; and corruption, leading to legal liability and reputational impact. However, companies can take steps to mitigate, manage and even create value from this situation.
http://flickread.com/edition/html/56b9d9cdde074#49
1 min read
Infrastructure & Third Parties
<p><p style="margin-bottom: 0.28cm; line-height: 107%"><b>Weighing the Risk</b></p></p>
This feature article in Commodities Now warns of the dangers of failing to conduct assessments of third-parties to detect and prevent risk. Companies in infrastructure operation interact with a large number of third parties, including their customers, contractors, suppliers and commercial agents. Risk can include financial issues during the relationship, leading to delays in work and overall contract delivery; argumentative behavior, leading to delivery delays, additional costs and having to dedicate more company time and resources to manage the relationship; and corruption, leading to legal liability and reputational impact. However, companies can take steps to mitigate, manage and even create value from this situation.
http://flickread.com/edition/html/56b9d9cdde074#49
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