Risk Management

Slattery offers a unique approach to time and cost risk management. We have developed industry leading risk software to produce probabilistic estimates for the management of cost and time risks.

Our costing team are specialists in cost risk management, whilst our project control team specialise in program schedule risk and issues management. Risk is a fundamental element in any project and must be captured and considered in the overall budget. Our approach ensures that the project risks, both inherent and contingent are;

  • identified through collaborative workshops with key stakeholders and project participants
  • accurately captured, considered, costed and scored through risk registers
  • assessed qualitatively and quantitatively to fully capture their extent and price mitigation measures as appropriate
  • assigned to the most suitable stakeholder to be managed.

Slattery can run multiple risk scenarios at a specific point in the project development phase and work with the team to understand how risks can be mitigated or transferred to scope. This provides our client with a clear understanding of the time, cost and contingency provisions of the project including next steps required to reduce risk, time, and cost.

Once these steps have been completed, we use risk to produce a probabilistic estimate of the likely cost implications. This is used by Slattery’s cost team to carry out its assessment of risk on projects.

We have:

  • First-hand experience in the actual identification, management, costing and mitigation of delivery risks
  • Significant hands-on experience in Quantitative Risk Analysis (QRA) and Quantitative Schedule Risk Analysis (QSRA) processes including as facilitators and as participants in workshop forums
  • A deep ‘first –principals’ understanding of QRA and QSRA inputs including likelihoods/probabilities, timing of impacts/consequences and quantification of cost drivers (program, direct work costs, financing costs, indirect costs etc.)
  • Significant experience in running Monte Carlo analysis of risk and pragmatically analysing and interpreting the results including identification of the risks with the greatest volatility and impact on the project
  • Developed clear reporting formats to provide visualisation of the entire projects risk
  • Demonstrated experience in providing ongoing risk management of projects throughout their life cycle, from strategic planning through to delivery and operation.