Assessments that are customised and realistic
In the preparation of probabilistic cost estimates and construction programmes, our engineers work closely with clients to ensure all risk assessments reflect real world conditions and outcomes.
Probabilistic assessments are made through Monte Carlo simulation, a process involving both inherent and contingent risk components.
Inherent risks. These are assessed at all pre-construction stages from high level strategic planning to a detailed assessment of risk and uncertainty within individual quantities, rates and programmed durations.
Contingent risks. Here our capabilities range from integrating a client’s own risk register into our cost estimates and construction programmes to preparing a project-specific risk register using our own in-house experience to capture and quantify the likelihoods and consequences of potential project risks.
We customise our risk assessment process to best suit the level of information and knowledge at hand, so our clients not only get value for money but also receive a realistic representation of the project.
Inherent risks. These are assessed at all pre-construction stages from high level strategic planning to a detailed assessment of risk and uncertainty within individual quantities, rates and programmed durations.
Contingent risks. Here our capabilities range from integrating a client’s own risk register into our cost estimates and construction programmes to preparing a project-specific risk register using our own in-house experience to capture and quantify the likelihoods and consequences of potential project risks.
We customise our risk assessment process to best suit the level of information and knowledge at hand, so our clients not only get value for money but also receive a realistic representation of the project.
Risk analysis, identification and management
As risk analysis and management professionals, we also help clients to identify a range of project-related risks and provide advice on managing them. Governance and reputational risks.
- Advising on environmental factors of the contract
- Looking beyond relevant legislative requirements to ensure the contract delivers sustainable infrastructure
- Development of a risk register
- Facilitate risk Workshops
- Quantify risks using @RISK software
