Since 2012, the Global Infrastructure Initiative Summit has convened many of the world’s most senior leaders in infrastructure and capital projects to identify ways to improve the delivery of infrastructure and get more out of existing assets. Our fifth GII Summit took place in London from October 29 – 31, 2018 and will focus on major project delivery and digital transformation across the industry.
Our Initiative consists of a global summit, regional roundtables, innovation site visits and a quarterly digital publication—Voices on Infrastructure. Previous summits include—Istanbul in 2012, Rio de Janeiro in 2014, San Francisco in 2015, and Singapore in 2017. At the fourth GII Summit in Singapore on May 24-26, 2017, participants explored “New Solutions for Global Infrastructure,” including the latest technologies, global best practices, and innovative approaches to infrastructure in the 21st century.
Building on past Summits, the discussion in London focused on four content pillars and several unifying topics that enable all aspects of the project lifecycle:
PLAN: Looking around the corners
Developing a sound infrastructure delivery plan is immensely challenging in this time of rapid urbanization, financial stress, and technological change. Decisions made today will have an impact on society for decades. Today’s plans are expected to provide a road map that responds to population shifts, challenging economics, user needs, and regulatory approaches, while also enabling a dialogue on risks, returns, and public and private sector roles. The Plan Pillar focuses on what tools, techniques, and approaches planners can pursue in this new context.
FINANCE: New strategies for bankable projects
Despite increased spending—nearly 14 percent of global GDP is spent on infrastructure and real estate—and pockets of progress, significant infrastructure investment gaps remain. Further, private capital continues to be allocated to infrastructure investment, with the supply often outpacing the number of suitable projects. The Finance Pillar identifies actions to bring previously untapped sources of public and private money to projects, recognizing the importance of financing bankable, sustainable infrastructure.
BUILD: Rethinking Construction
Worldwide, productivity in the engineering and construction sector has lagged behind other industries for decades, resulting in many projects being delivered late and over budget. Creative management processes and innovative technology-enabled solutions—from drones to next-generation BIM, digitization, and advanced data analytics—can boost productivity by 20 to 25 percent and increase profitability. The Build Pillar explores new approaches to advance productivity by harnessing the digital wave, applying lean construction, utilizing prefabrication, and innovating the contracting model.
OPERATE: Maximizing value from existing infrastructure
Applying analytics and digital technology to optimize the use and minimize the cost of existing infrastructure is a high-value strategic investment. The McKinsey Global Institute estimates that almost $500 billion could be saved annually through disruptive use of technology, advanced analytics, agile design, and new operating models. The Operate Pillar examines levers to maximize asset utilization, revenue opportunities, and customer experience in the digitized world.
These sessions cut across the four pillars and focus on improving infrastructure governance, capability, and delivery systems to enable institutional change.
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GII 2018 Summit insights on Infrastructure and Capital Projects
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Photo: Jason Hawkes, Battersea Power Station