identification and the risk register
We run structured workshops with the client, design team and, where appropriate, the contractor to identify risks across the full spectrum: ground conditions, existing structures, statutory approvals, utility interfaces, design maturity, market and supply-chain volatility, resource availability, weather, funding and stakeholder issues. Each entry is recorded with its cause, its consequence, an owner, an assessment of likelihood and impact, and the mitigation or contingency response. The register is then maintained as a live document reviewed at every project meeting, not filed after the workshop.
quantified analysis and contingency
Where the stakes justify it we quantify rather than score. Cost and schedule risks are modelled probabilistically, using ranges and correlations instead of single-point estimates, to produce a distribution of outcomes and a defensible contingency at a chosen confidence level. This replaces the arbitrary percentage that so often becomes the first casualty of value engineering. The model also ranks risks by their contribution to the overall exposure, which tells the client where mitigation effort and money will actually make a difference.
allocation, mitigation and monitoring
Risk should sit with the party best able to manage it, and the contract is the instrument that puts it there. We advise on allocation through the procurement route, the contract form and its particular conditions, insurances and bonds, and we make sure the pricing reflects the risk each party is being asked to carry. Through construction we track the register, close out risks that have passed, revalue those that have changed, and report contingency drawdown against forecast so the client always knows how much of the allowance remains and what it is still covering.