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Mitigating Threats of Counterfeiting in the Capital Projects Industry

Event Date

Sep 01, 2014

Type

Workshop Presentation

Research Team

RT-307

Slides

Topic

Mitigating Threats of Counterfeit Materials in the Capital Projects Industry

DOCUMENT DETAILS

Abstract

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Abstract

Counterfeit, fraudulent, and suspect items (CFSI) continues to be a threat to the capital projects industry. The research team reconfirmed the status of the CFSI threat, while at the same time updating and expanding upon the research of RT-264, Product Concerns in Low-cost Sourcing Countries, which documented the variety, scope, and impact of CFSI. The research team utilized a multi-staged approach in its objective to develop a methodology to mitigate the presence and effects of the CFSI in the capital project supply chain. RT-307 focused on the development of the CFSI Risk Mitigation Framework, which includes a tool that can be utilized to identify and assess CFSI risk, as well as a catalog of 19 risk mitigation strategies. In addition, the team proposed a two-phase collaborative initiative to align CFSI mitigation actions across the construction industry by consolidating CFSI data from across the industry and channeling it into data exchange programs. Ultimately, this would be used to increase industry awareness of CFSI and mitigate infiltration via information sharing and data analysis of CFSI trends and patterns.

Filters & Tags

Knowledge Area

Procurement & Contracts, Quality Management, Risk Management

Project Phase

Detailed Design (Engineering), Procurement

Project Function

Project Management, Architects & Engineering, Project Controls, Procurement & Contracts, Construction, Commissioning & Startup, Operations & Maintenance, Health, Safety & Environmental, Risk Management, Quality Management

Industry Group

Light Industrial, Heavy Industrial, Buildings, Infrastructure

Research Topic

Mitigating Threats of Counterfeit Materials in the Capital Projects Industry

Keywords

Capital Projects, Supply Chain, Risk Management, CFSI, Counterfeit, Fraudulent, CFSI Framework, Risk Identification, Risk Assessment, Risk Mitigation, Risk Communication, CFSI Collaborative Initiative, CFSI Risk Mitigation Strategies, CFSI Risk Mitigation Cycle, rt307