Strong partnerships are fundamental to successful projects
InfraRed develops strong partnerships with stakeholders, including clients, co-shareholders and business partners, in each of our projects. We believe effective and efficient engagement is crucial to preserve and enhance both investor and stakeholder value.
InfraRed’s infrastructure business’ approach to stakeholder engagement is based on four key initiatives:
1. Stakeholder mapping and strategic engagement
In partnership with our management service providers, InfraRed develops stakeholder engagement plans which assist in enhancing interactions with the key stakeholders associated with the respective projects and companies within our portfolio.
2. Industry Knowledge Centre
InfraRed has partnered with our management service providers to develop a project database, referred to as the Industry Knowledge Centre, which acts as an encyclopaedia for project-related issues. The database is kept up to date with industry alerts such as the UK government’s guidance with respect to cladding, issued as a result of the fire at Grenfell Tower. Best-practice guidelines are developed, and lessons are learned, from both within InfraRed’s portfolio of 250 assets and the portfolio’s of our management service providers.
3. Database of project history
InfraRed have developed a database which captures important events during a project’s life, which includes for example, details of planned maintenance undertaken, sustainability initiatives, and key stakeholder interaction. The portal can be made available to a range of stakeholders, including public-sector clients. This ensures the retention of institutional knowledge over the long-term partnerships typical of infrastructure projects.
4. Critical issue management framework
InfraRed is committed to a culture of continuous improvement by distilling and leveraging the collective experiences of our staff and business partners for the benefit of our project stakeholders. This is especially vital in the context of critical issues affecting the portfolio. We have developed a framework to support the proactive action by providing support and resources to tackle critical project-related issues.