Feature
SKILLS
Making the case Risk managers have a bigger role to play in creating value in their organisations by getting involved in business case analysis BY DAVID WORSLEY
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risk professional’s attention is often absorbed in the management of ongoing operations or live projects. While at Network Rail, most of my team’s time was used performing schedule-risk analysis for infrastructure works undertaken overnight or at weekends. Primavera Risk Analysis software was used to model engineering activities in units of 15 minutes, and an understanding of critical paths and planning logic was required. The principal risks would usually include relatively predictable threats such as equipment failure or severe weather. However, earlier in the life cycle of the same projects, risk assessments were undertaken years in advance of the physical works. This was partly to pursue the so-called “left shift” in project risk management, where risks are identified earlier and can be treated more efficiently. But another reason was to inform decisions as to whether projects should proceed at all. Risk assessment for project business cases is a particular specialism, and I believe that this activity forms a crucial link between project and corporate risk management, while also presenting an opportunity for risk managers to broaden their skillset.
The biggest project risk is often that you may be doing the wrong project
Governance Asset management organisations generally mandate that projects on their infrastructure follow detailed
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Enterprise Risk
