When the government commits to infrastructure projects, they are committing to spending billions of taxpayers’ money preventing fraudulent activity it critical.
Escalating costs for projects receive negative PR and mean that the public start to question value for money for these larger and costlier projects.
Preventing fraudulent activity
Mitigating the risk of fraudulent activity should be prioritised by those working on and managing infrastructure projects to ensure all costs are valid, legitimate and relate to the approved schedule of work.
Furthermore, any suspicions of fraud can negatively impact on the chosen contractors and sub-contractors – meaning time and money is wasted on investigations that may or may not have the ability to be proven. The cost of fraud both financially and in terms of reputation and future work winning can be severe and should be considered a key business risk.
Geolocation technology will provide accurate resource allocation records for a project and can be used to inform or reconcile payment applications, particularly on Target Cost or Cost Reimbursable Contracts. Knowing what and who is on-site can be mapped back to specific work activities including critical path tasks, helping to keep projects on time and provide certainty of delivery.
Here are some examples of how geolocation technology can be used to mitigate the risk of fraudulent costs.
