Project Risk Management
Jul 8th, 2014
Project Risk Management
The best ROI from Risk Management comes if it is conceived as a continuous support of a project from cradle to grave. It does not matter if the project is an acquisition, a strategic shift the board of directors envisions, a process change or some capital expenditure for an existing operation/infrastructure. The support includes of course scheduling and budgeting risk assessment.
Coal Wharves Facilities, Critical Infrastructure
If the support starts at pre-feasibility level, the return on investment is the highest. However, we can intervene at any step of the design, contracting, construction, service life and closure of the project.
Project risk management support has brought very significant results, for example in competitive bids for a large environmental rehabilitation, development of residential and urban renewal projects, large infrastructures including highways, bridges, complex networks. Here are some examples of Riskope’s deployments:
- Asbestos mine waste dump environmental rehabilitation (Italy)
- Acquisitions in the automotive specialty suppliers space (Australia, USA)
- Critical infrastructure tunnels and utilities/pipes corridors (Switzerland)
- Highways and bridges maintenance and capex for dynamic lane management (Switzerland, Italy)
- Wharves & Railroads (Canada, USA)
- Large mining projects (Chile, Canada, Peru, Brasil)
Riskope’s builds from the beginning of the deployment a rational hazard and risk register (what can go wrong, what would be the consequences, what are the probabilities it will occur, what are the priorities, which alternatives are the best suited for the client’s interest). The methodology we use is called ORE (Optimum Risk Estimates): we have used it for projects, acquisitions, major decisions related to projects of very large (in the top 300 of the Global1000 corporate list, where we have more than 10 clients) to medium corporations, governments, regional authorities.
Knowing where the potential problems are, how likely they are to occur and what their impact will be on the final cost allows to build reasonable and sustainable mitigations, contingencies, to build well balanced insurance portfolios and finally to insert in all commercial contracts well balanced and fair Force Majeure clauses.
Riskope’s work is compatible with the principles of ISO 31000, the new ISO 55000 (asset management) and ISO 22301 (Societal Security – Business Continuity Management System) codes.
Tagged with: Acquisitions, Asbestos mine, Asset Management, automotive, Business Continuity Management System, critical infrastructure, Highways and bridges maintenance, ISO 22301, ISO 31000, ISO 55000, Societal Security, utilities/pipes corridors, Wharves & Railroads
Category: Mitigations, Optimum Risk Estimates, Risk analysis, Risk management