Category: Business Practice
Introduction to Business Practice according to FIDIC
FIDIC's Business Practice Committee (BPC) has been long tasked to develop best practices guides and recommend to the Executive Committee the best delivery mechanisms for the guidelines. They also monitor developments in key areas of the industry and provide relevant information to Member Associations - such areas include Risk Identification and Management, Insurance Trends, Practice Management, Quality Based Selection, Quality Management Selection, etc.
FIDIC is committed to further spreading Business Practice within the industry by:
- Continually developing programs for Capacity Building, Procurement, Sustainable Management, which are tightly related to improving quality.
- Promoting QBS for the selection of consulting services within the Multilateral Development Banks (MDBs).
- Work in partnership with the MDBs and UN organizations to develop special in-house training programs on best practices.
The keystone to ensuring quality and best value from an infrastructure project is the procurement of the consultant who is best able to provide the solution to meet the client’s requirements over the whole lifespan of the project. FIDIC has been promoting Quality Based Selection (QBS) for many years, as it emphasizes the importance of selecting Consultancy Firms on the basis of qualification, experience, professionalism and integrity, rather than price. The advice of the consulting engineer should be regarded as an asset investment, not a project cost.
Publications and their editions represented with definitions in FIDICTerms, Business Practice category
The editions of the FIDIC Business Practice publications referenced to populate the glossary of terms in FIDICTerms currently include:
- To be updated...
Sub-Categories within the Business Practice Category on FIDICTerms are as follows: