FBR 4.26% 4.5¢ fbr ltd

Hadrian X. A safer work environment

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    Hadrian & Risk Mitigation benefit.

     

    A while back I posted asking about an advantage of theHadrian that I felt not many had touched on yet in detail. I mentioned I wouldshare when I had the time using my own industry experience as a platform. Thanks to @Equitable and @herewegoagain1 for some good responses.
    https://hotcopper.com.au/posts/37102663/single


    Disclosure:This is not an endorsement to invest. Please DYOR. My current sentiment stands although I wish there was an Accumulate option too sneaky.png

    Real case scenario:

    Fire Shed at site. Specifically designed to attack a largeindustrial site fire and withstand significant radiant heat. 

     https://hotcopper.com.au/data/attachments/1422/1422627-4be78b69accc5db7c3f1841027228e0e.jpg

    Build took 5-6 days to complete with 1 Qualified builder, 2Trade Assistants and 1 Contractor Supervisor. Dimensions are roughly 18m x 6m x 3m. Cost was roughly 40k frommemory for the structure only (Design, Build, Materials, Labor, Supervisionetc).  The cost is not the point and only for reference.

     

    Main project was > $5mil of which 4 principle companiestendered for and the structure build was subcontracted out. Now what you needto account for here is for a project even this small, as in just the structure,HSSE / Safety was paramount!! Wecannot do ANY job without a documented Risk Assessment & Permit toWork system in place.

     

    I'm drawing on my own Site Manager, Permit Writer & Industry experience for this next part and in my own opinion one of the mainreason this company will be successful around various localities in the world if the next stages of testingand commissioning produces company anticipated results.

     

    Safety & RISK Mitigation

    Utilizing Hadrian I would envisage a likely 90% riskreduction for the build element of this project during the planning phase.Areas of consideration during Risk Assessment: Manual handling and fatigue, strains, sprains, dropped objects, slipstrips falls, crush injuries, falling from heights, cuts and abrasions, pinch points, tools & rotatingmachinery risks e.g. eye injuries, noise, fine dust particulates etc.
    Additional project risk reduction in areas of: Complacency, work site conflicts resulting in distracted trades persons, faileddrug and alcohol testing, inadequate supervision, SIMOPS etc.... My HSSErisks on the build element of the project have just gone from a (moderate -high risk score) to a (low -unlikely risk score) for a multitude of scenarios without implementing any controls. Area of build would be delineated so only access is by Hadrian technician during build. The risk of using a Hadrian boom on site is negligible as we use 100 tonne cranes and utilize a lift plan that has a wind speed limitation for lifts around 10mts p/sec or 36kms p/hr / 20knts dependent on type of lift. 

    A quick google search of construction workplace incidents /newswill back up the frequency of these incidents, Globally.

    It is a matter of whennot if more stringent HSSE workplace Control of Work requirements reach variousbuilding industries. Workers compensation, PublicLiability Insurance and Legal representation is a HUGE cost forcorporations and businesses and they are always looking for ways to mitigate these costs by implementing a wide range of controls that reduce workplace incidents. But there is one problem that still persists that no matter how many controls you put in place to cover all the Hazards identified and it is unavoidable....People...The simple fact is, the more people involved in a task, the higher the likely hood of a workplace incident resulting in injury.

     

    This is part of what the largecompanies will look at when awarding project tenders. If cost is comparable butrisk is significantly minimized and efficiency is improved even just 10%, thenin their mind, using FBR’s Hadrian they eliminate the majority of the work siteprobability risks by removing the Hazard.....People....thereby reducingInsurance premiums and compensation payments due to workplace accidents. Companieshave a duty of care to minimize risk and an obligation to improve cost and efficiencywhere ever they can. I'm no CEO or board director but this is how theirdirectives filter down to a site management level. Safety, Cost,Risk, Efficiency, Reliability, Repeatably. 

     

    So when next I am presented with the final 2 best options tobuild a structure on site and if cost of FBR's quote is comparable totraditional quote +/- 10%. My option is easy as directive from my Line Managers is clear. Take the option with the lessorHSSE risk, the one that offers a quicker build schedule and a reliablecompletion time. At the end of the day, my arse as a manager is on the line iftrades people/contractors hurt themselves on my site. Work safe get involved asis their obligation and legal requirement. If it's serious then I'm standing infront of a judge explaining why my Permit conditions were not followed or notdetailed enough to cover all Hazards. Guilty until documentation provesinnocence.

    A Hadrian can surely also result in an incident on site however it cannot be physically hurt to the point of legal ramifications, become complacent, suffer from heat stress or fatigue the same as people do, arrive to work hungover, have a fight with their partner or co-worker and become distracted, call in sick short notice, not care about quality of build and attention to detail, disregard rules of site etc. All scenarios I have dealt with and all relating to....People...

     

    Any project that considers: Safety, Cost, Risk, Efficiency, Reliability, Repeatably. Willlook upon the FBR company model favorably. Building Industry experience and knowledge (which is core to their success)can be obtained within the business via HR staff acquisition or via Joint Ventures with experienced building companies.

     

    If FBR can be cost comparable at thetender application stage, then they will start winning contracts. IMO.

     

    What’s the competition then going todo on the next Contract tender they apply for. They’ll be bidding against thesame company they just lost to by a significant margin on several of the above criteria........Outcomeis Disruption.

     

    Disruption can be brutal for thosenot able to see change is coming and it happens swifter than older technologiesand services can adapt.


    FBR is far from a home run investment at this stage. Still a specci and still carries a lot of risk but I hope this provides a different point of view into the risk mitigation benefit potential that they may bring to highly repetitive component within the building industry.


 
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