From owners and financiers to engineers and constructors, all project participants face significant risks in developing and building infrastructure and other physical assets. Project cost and schedule volatility created by global supply-chain, local construction capabilities, technology trends and regulatory changes are among the risks that project participants need to cope with when planning and executing their projects.
Financial instruments and insurance policies are widely utilized in the construction industry to control and hedge risks. However, project managers that want to control their risk exposure more effectively need to address project specific risks that financial instruments cannot hedge. These risks are treated most effectively when identified and assessed in a timely manner using a structured risk management framework.
Procon IQ offers advisory services and seminars to enable the project participants to enhance their current project risk assessment and treatment capabilities or develop brand-new structured risk management frameworks.
We can also become our clients’ project risk management team to help them identify, analyze and treat the project risks. Our services include risk planning, identification and qualitative risk assessment workshops, custom risk modeling and advanced quantitative (QRA) and schedule risk analysis (SRA).
We offer advanced risk management services to large infrastructure programs. Custom risk modeling and simulation are some of the state-of-science capabilities we offer our clients to help quantify and rank their project risks more effectively. Using advanced risk modeling and simulation tools and techniques can help understand uncertainties in engineering and construction of infrastructure projects.
In our experience, effective project controls and risk management frameworks and capable organizations are essential for strong project governance.
