17 September 2014
Institution of Civil Engineers
Risk Analysis and
Management for
Projects Launch
Wednesday
17
September
2014
Risk Analysis and Management for Projects
Launch
Institution of Civil Engineers
Opening Remarks
David Hare, Chair, IFoA
Past President
Risk Analysis and Management for Projects
Launch
Institution of Civil Engineers
RAMP
Michael Clark, Treasurer,
Downstream and Trading,
Shell and Chair, RAMP
Working Party
Risk Analysis and Management for Projects
Launch
Institution of Civil Engineers
RAMP
Chris Lewin, Editor and
Lead Author, RAMP 3rd
Edition
Risk Analysis and Management for Projects
Launch
Institution of Civil Engineers
RAMP
Chris Lewin
Planning a project
• Preparation all-important
Investment model
• Risks throughout life
• Investment model (probably NPV)
Risk register
• Cover both implementation and operating
phases
• Include risk connections
• Assumptions
• Opportunities
Risk mitigation
• Develop options and enter on risk register
• Cost-effective?
• Choose which options to adopt
Uncertainty
• Whole new chapter
• Uncertainty is lack of knowledge
• Seek further relevant knowledge proactively
• Review previous work and change as
necessary
Overall riskiness
• Use scenario analysis
• Estimate the financial value of the risks
• Deduct the value of the risks from the
expected NPV to give “risk-adjusted NPV”
Implementing a project
• Ensure good carry forward from planning stage
• Analyse procurement risks
• Develop risk response plan
• Implement planned mitigation actions
• Appoint risk custodians
• Establish system for spotting emerging risks
• Regular risk reviews + crisis management
Features of the new edition
• Infrastructure projects – social and environmental risks
• Risk mitigation – a simpler method for determining costeffectiveness
• Easy step-by-step guide for analysts
• Common practice, good practice, future practice
• Empirical rules for project success
• Self-assessment test
Conclusion
• RAMP simplifies path and provides checklists
• It is iterative and prevents wasted work
• Increases chances of ultimate success
Crossrail: How we used
RAMP and STRATRisk
Rob Halstead, Head of
Risk Management,
Crossrail
Risk Analysis and Management for Projects
Launch
Institution of Civil Engineers
Putting RAMP and STRATRisk into practice
Header here max 30 characters
Rob Halstead – Head of Risk Management, Crossrail
Introduction to Engaging
with Risk in Construction
Tim Wells, Risk Manager,
CH2MHill and Chair,
CIRIA Project Steering
Group
Risk Analysis and Management for Projects
Launch
Institution of Civil Engineers
Engaging with Risk in
Construction
Dr Hilary Lewis, Director,
Systemic Consult and
Visiting Fellow, University
of Bristol and Lead
Author, CIRIA Risk Guide
Risk Analysis and Management for Projects
Launch
Institution of Civil Engineers
Engaging with risk in
construction
C747
17th September 2014
Dr Hilary Lewis
© 2013 Systemic Consult
Key themes
Risk governance
Risk complexity
Risk stakeholders
Risk and
uncertainty
Rick connectivity
Risk culture
Risk
communication
and language
© 2013 Systemic Consult
C747
Engaging with risk in
construction
© 2013 Systemic Consult
Questions and Discussions
Chaired by
David Hare, Chair, IFoA
Past President
Risk Analysis and Management for Projects
Launch
Institution of Civil Engineers
Closing Remarks
David Hare, Chair, IFoA
Past President
Risk Analysis and Management for Projects
Launch
Institution of Civil Engineers
Improving Welfare,
Standards and Practice
CONSTRUCTING HEALTH
AND SAFETY 2014
25 September 2014
One Great George Street, London
Registered charity number 210252
Charity registered in Scotland number SC038629
ice-healthandsafety.com