An email has been sent to your address with instructions for changing your password.
There is no user registered with this email.
Sign Up
To create a free account, please fill out the form below.
Thank you for signing up!
A confirmation email has been sent to your email address. Please check your email and follow the instructions in the message to complete the registration process. If you do not receive the email, please check your spam folder or contact us for assistance.
Welcome to our platform!
Oops!
Something went wrong while trying to create your new account. Please try again and if the problem persist, Email Us to receive support.
AECOM-led joint venture awarded contract with FEMA to improve community resilience
Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Neutral)
Tags
Rhea-AI Summary
AECOM has been awarded a contract by FEMA for the Risk Mapping, Assessment and Planning (Risk MAP) Program, valued at $300 million for one year with four optional extensions. The contract aims to enhance flood risk analysis and hazard mapping particularly in historically underserved areas prone to severe natural hazards. This partnership builds on AECOM’s 40 years of experience with FEMA and aims to support the 2022-2026 FEMA Strategic Plan, focusing on equity, climate resilience, and disaster response.
Positive
Contract awarded by FEMA for Risk MAP Program valued at $300 million.
Opportunity to continue partnership with FEMA, building on 40 years of support.
Focus on underserved communities enhances corporate social responsibility.
Negative
None.
The Risk MAP program will be completed in historically underserved and disadvantaged areas faced with severe flooding and other natural hazards
DALLAS--(BUSINESS WIRE)--
AECOM (NYSE: ACM), the world’s trusted infrastructure consulting firm, today announced the U.S. Department of Homeland Security’s Federal Emergency Management Agency (FEMA) has awarded the AECOM-led Compass Production and Technical Services Joint Venture (Compass PTS JV) a contract to provide production and technical architecture and engineering services for the Risk Mapping, Assessment and Planning (Risk MAP) Program. The indefinite delivery, indefinite quantity (IDIQ) contract has a combined program ceiling of $300 million for a one-year base period with four, one-year option years.
“AECOM has supported FEMA for more than forty years leveraging the combined expertise of our world-class scientists, engineers, planners, and analysts,” said Lara Poloni, AECOM’s president. “We’re honored to continue our partnership to promote informed planning and development practices that reduce flood risk and meet the needs of historically underserved and disadvantaged communities faced with severe threats from natural disasters.”
Under the new single-award contract, Compass PTS JV will deliver a wide range of services related to flood risk analyses, hazard mapping, disaster response, and risk reduction. In addition, AECOM will leverage its state-of-the-art engineering and mapping capabilities that allow for vast amounts of high-quality hyperlocal flood hazard and risk data and information at state-level scales.
The contract comprises scope requirements that fall within FEMA Regions 4, 6, and 7, a geographic area characterized by the most severe and frequent river, coastal, and urban flooding in the nation, among other natural hazards. FEMA Region 4 states are Alabama, Florida, Georgia, Kentucky, Mississippi, North Carolina, South Carolina, Tennessee; FEMA Region 6 states are Arkansas, Louisiana, New Mexico, Oklahoma, Texas; and FEMA Region 7 states are Iowa, Kansas, Missouri, and Nebraska.
“We’re excited that this new contract provides an opportunity for our team to support FEMA as we build on our successful completion of projects over the last seven years. Critical work is already underway with hundreds of our staff working under FEMA leaders to smoothly transition into the new structure,” said Beverley Stinson, chief executive of AECOM’s global Water business. “Along with our joint venture partners, AECOM is well positioned to support the bold vision and ambitious goals of the 2022-2026 FEMA Strategic Plan, which includes instilling equity in emergency management, leading whole communities in climate resilience, and promoting and sustaining a ready FEMA and prepared nation.”
The Compass PTS JV is comprised of AECOM, ABS Group, CDM Federal Programs Corporation, Fugro, Halff Associates, T&M Associates, and numerous small business and specialty subconsultants. Its scope of work includes natural hazard analyses, risk assessments, building sciences expertise, and rapid response when disasters strike.
About AECOM
AECOM (NYSE: ACM) is the world’s trusted infrastructure consulting firm, delivering professional services throughout the project lifecycle – from planning, design and engineering to program and construction management. On projects spanning transportation, buildings, water, new energy, and the environment, our public- and private-sector clients trust us to solve their most complex challenges. Our teams are driven by a common purpose to deliver a better world through our unrivaled technical expertise and innovation, a culture of equity, diversity and inclusion, and a commitment to environmental, social and governance priorities. AECOM is a Fortune 500 firm and its Professional Services business had revenue of $13.3 billion in fiscal year 2021. See how we are delivering sustainable legacies for generations to come at aecom.com and @AECOM.
Forward-Looking Statements
All statements in this communication other than statements of historical fact are “forward-looking statements” for purposes of federal and state securities laws, including any statements of the plans, strategies and objectives for future operations, profitability, strategic value creation, coronavirus impacts, risk profile and investment strategies, and any statements regarding future economic conditions or performance, and the expected financial and operational results of AECOM. Although we believe that the expectations reflected in our forward-looking statements are reasonable, actual results could differ materially from those projected or assumed in any of our forward-looking statements. Important factors that could cause our actual results, performance and achievements, or industry results to differ materially from estimates or projections contained in our forward-looking statements include, but are not limited to, the following: our business is cyclical and vulnerable to economic downturns and client spending reductions; impacts caused by the coronavirus and the related economic instability and market volatility, including the reaction of governments to the coronavirus, including any prolonged period of travel, commercial or other similar restrictions, the delay in commencement, or temporary or permanent halting of construction, infrastructure or other projects, requirements that we remove our employees or personnel from the field for their protection, and delays or reductions in planned initiatives by our governmental or commercial clients or potential clients; losses under fixed-price contracts; limited control over operations run through our joint venture entities; liability for misconduct by our employees or consultants; failure to comply with laws or regulations applicable to our business; maintaining adequate surety and financial capacity; high leverage and potential inability to service our debt and guarantees; ability to continue payment of dividends; exposure to Brexit; exposure to political and economic risks in different countries; currency exchange rate fluctuations; retaining and recruiting key technical and management personnel; legal claims; inadequate insurance coverage; environmental law compliance and adequate nuclear indemnification; unexpected adjustments and cancellations related to our backlog; partners and third parties who may fail to satisfy their legal obligations; AECOM Capital real estate development projects; managing pension cost; cybersecurity issues, IT outages and data privacy; risks associated with the benefits and costs of various dispositions such as the sale of our Management Services, self-perform at-risk civil infrastructure and power construction, and oil & gas maintenance and turnaround businesses, including the risk that purchase price adjustments, if any, from those transactions could be unfavorable and any future proceeds owed to us as part of those transactions could be lower than we expect; as well as other additional risks and factors that could cause actual results to differ materially from our forward-looking statements set forth in our reports filed with the Securities and Exchange Commission. Any forward-looking statements are made as of the date hereof. We do not intend, and undertake no obligation, to update any forward-looking statement.
