DNV+contributes+to+China%E2%80%99s+project+excellence

DNV recently co-arranged the China National Project Excellence Awards together with the Investment Association of China. The awards were also endorsed by the National Development and Reform Commission, which is the parent body of Investment Association of China.

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The awards were presented at the Investment Risk Management and Control Forum, a conference organised by the Association. The co-arrangement of the China National Project Excellence Awards is part of DNV’s ongoing commitment to contribute to the development of risk management competence and sustainability solutions in China.

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The Three Gorges project conducted by China Yangtse Three Gorges Group received particular recognition, winning the 2011 National Project Excellence Special Award with a score of 93.63 out of 100. There were thirty seven other projects awarded including the Beijing-Tianjin Intercity High-speed Rail project which was built by Beijing-Tianjin Intercity High-speed Rail Co., Ltd.

Many of the award-winning projects have set world records, including the Three Gorges project, which is the world’s largest hydro-dynamic plant, the Hangzhou Bay Bridge, which is the longest sea-crossing bridge and the Datong-Qinhuangdao expansion project, which can carry 400 million tons of coal annually.

While the projects are diverse, there are some prominent common characteristics. The investment decisions are scientific, balanced and in legal compliance. The projects are also innovative and highlight energy saving and the shift to a low-carbon economy such as the Three Gorges Dam.

According to Zhang Hanya, Chairman of the Investment Association of China, these 38 award-winning projects are examples of project excellence applied to fixed assets investment during the “11th Five-year Plan Period (2006-2010).” Over this period, China invested RMB 92.29tlnin fixed assets with 25.5% growth annually. These investments have made a great contribution in ensuring the rapid and concerted development of China’s national economy and have also played a key role in countering the effects of the recent global financial crisis.

“It is a very big challenge to manage risks of all these massive national projects in China, particularly when there are evermore complicated evaluation criteria. However, huge costs can be saved if only 1% of the risks are well managed,” said Per Marius Berrefjord, Managing Director of DNV Sustainability Centre in Beijing.

Mr. Berrefjord delivered the keynote speech entitled “Project Excellence—Improved Risk Management of Complex Projects” at the Investment Risk Management and Control Forum. He noted that the award and the forum are strong evidence of the advanced development of project risk management in China. DNV also participated in the evaluation of the candidate projects.

In China, DNV has worked alongside Chinese government bodies, state-owned and private enterprises in the field of project risk management, as well as in the domain of sustainability solutions. According to Mr Zhang of the Investment Association, the evaluation of projects started in October 2010. After strict examination and verification, the winning 38 projects were selected from 12 industries such as those of the railway, road, airport, bridge, water power, thermal power, iron & steel, machinery, petrochemical, etc, and from 16 provinces, autonomous regions and municipalities including Beijing, Tianjin, Shanghai, Guangxi.

Date: 19 July 2011

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Contact

Cherry Zhou, DNV Sustainability Centre Beijing

E-mail: Cherry.Zhou@dnv.com

Phone: (86) 1391.1626.307

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DNV
Since its founding in 1864 in Norway, Det Norske Veritas (DNV) has developed into a multinational provider of risk management and sustainability services, with the vision to have a global impact for a safe and sustainable future. DNV has now 300 offices in operation in 100 plus countries, with 9,000 highly educated employees.

DNV arrived in China in1888. By early 2011, DNV had set up 36 offices in the country with more than 900 employees and a Greater China headquarters in Shanghai. As an independent foundation, DNV has assisted many of the People’s Republic of China’s central governmental bodies, state-owned enterprises (SOE) and private sector companies in setting and implementing sustainability standards and practices. This focus will now be extended through DNV SC.

DNV’s partnerships and competencies are focused on sectors where there is a high degree of complexity and criticality such as maritime, oil & gas, finance, healthcare, food & beverage, IT and infrastructure.

Investment Association of China
Investment Association of China, founded in November 1995, is a national organisation under the administration of the National Development and Reform Commission. The purpose of the association is to implement economic policies of the government, provide macro-economic information, guide investment activities, reflect members’ opinions to the government, put forward suggestions on policies, legislation and major reform to the government, provide professional training and consulting services, and promote communication and cooperation among members and various investors.

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