The E&C industry does not have good history of business control or project management. There has been a tendency to chase volume at the expense of profitability. There has also been an underinvestment in systems and management to facilitate it to manage risk proactively and engage in strong governance.
Additionally, the inherent and often unexpected risks on construction projects present key challenges to engineering and construction companies. For example, if a project is delayed or disrupted, significant resources are engaged and management time consumed. The outcome can have serious consequences on corporate value. One loss-making project can wipe out the profit on 50 successful ones and significantly damage a company's reputation. In the current economic climate, claims and disputes are increasingly likely.
How PwC can help you
Our Capital Project Services team supports all aspects of major capital projects, including addressing business strategy and feasibility issues; project risk and funding strategies; organisation, contract and legal strategies; project monitoring and oversight; project optimisation; and resolving disputes and claims.
Our Forensics Services practice helps organisations tackle the major financial and reputational risks associated with economic crime. Our forensic experts identify financial irregularities, recover stolen assets and introduce controls to mitigate the future risk of fraud. The team also has a long-established litigation support practice, helping businesses resolve complex financial disputes arising from corporate transactions, insurance claims, intellectual property and licensing contracts, and construction projects.