RISK FACILITATION AND ADVICE
Capital Works Consulting offering
Capital Works Consulting facilitates risk management workshops and provides advice on how to integrate an active risk management approach as a key tool for project success.
Why Capital Works Consulting?
Capital Works Consulting includes highly experienced risk managers and risk management facilitator. Capital Works Consulting has conducted over 50 risk workshops and for the Australian Government departments, ACT Government and consultants and contractors for construction and property related projects and programs in the last five years.
These have included capital programs with values of up to $1 billion. As Capital Works Consulting is actively delivering projects, the risk facilitation is undertaken based on current project delivery experience which ensures all major risks will be identified and treatments recorded.
Major Project Risk Workshop Methodology
Capital Works Consulting will adapt the risk workshop time and format to meet the client’s needs. For major projects it is recommended that a full two- day workshop is undertaken.
Risk Identification (Day 1)- The risk management process will commence with a full day risk workshop to undertake risk identification.
Risks will be assessed for probability and likelihood with the risk rating being the Australian Standard risk matrix which Riskorganizer is based on. This also includes the assessment of risks that can also be considered opportunities.
Risk Treatment (Day 2) – Risk treatments will be undertaken through a full day workshop to identify all risk treatments for each risk identified on Day 1. These risk treatments will be described, allocated an owner and will have a completion date nominated.
Optional P50/P90 Contingency Modelling– Should a client require a P50/P90 contingency modelling Capital Works Consulting is able to use the ContingencyEstimator module to determine the P50 and P90 for business case development, appropriate contingency for budget, and general project planning.
Risk Management Software
Capital Works Consulting use Riskorganizer as the risk management tool. Riskorganizer is a well-established risk management tool that has been used extensively, is active and easy to use, and encourages active on-going risk management. The advantages of the Riskorganizer software are:
a. All information on each risk is contained on a single sheet and contained a complete history of each risk on the sheet.
b. Risk breakdown structure can be customised to suit the Project.
c. Has the function to model the risk probability profile and estimate the level of contingency appropriate to provide certainty of delivery at P50 and P90 certainty levels.
d. Risks can also be categorised as opportunities.
e. A broad range of reports are available.
f. Enables the allocation of responsibility for risk treatments and allows for ongoing management of risk through review and re-rating of risks and monitoring of risk treatments.
g. This approach will improve client’s risk management and has a positive impact in other areas of service delivery.