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Managing uncertainty in a wastewater project
This case study concerns a project in its pre-feasibility phase. It outlines a simple qualitative risk assessment for the project, the development of treatment actions, and an initial evaluation of commercial and pricing options. The case draws lessons about the value of risk management for procurement, and some of the pitfalls of residual risk calculations.Summary This case study concerns a sewerage upgrade project in its pre-feasibility phase....
Read moreSchedule uncertainty in linear developments
...ject schedule networks, simplify the development of models and offer great power to the analyst. However, some projects present requirements that these tools cannot accommodate. It is important to recognise this as a modelling challenge: it is very unwise to try to reinterpret a project in terms dictated by what a particular tool can represent, thereby ‘shoehorning’ the analysis into whatever tools happen to be available. So long as care is taken...
Read moreClimate change strategy for a pharmaceutical company
...ty of specific biological input products Opportunities to exploit off-peak power and alternative power sources Assurance that regulations would treat joint venture operators as separate entities for reporting and emissions control. Subject to the actions noted in the workshop outputs, the aggregate adverse effect of the risks identified appeared unlikely to be classified as material for the company. However, there were many areas for improvement,...
Read moreBridge operations on a commuter road
This case study outlines a risk assessment and treatment options for enhancing the reliability of an opening bridge on a commuter road, augmented by aspects of failure modes and effects analysis (FMEA). The case discusses the importance of site familiarisation, setting workshop agendas carefully, adapting the risk management process to enhance its effectiveness, using a flexible approach to setting priorities for management attention, and the val...
Read moreClimate change in a rural shire
...an extended ‘risk register’. It provides a structure for the analysis that promotes an efficient workshop process as well as recording additional information, including: Additional explanatory detail about the assumptions, thinking and rationale underlying the analysis The wider implications of the risk across the shire Spatial analysis that may support more precise targeting of adaptation responses (risk treatment actions). While each template in...
Read moreMike Wood
...projects (typically $500 million or higher) for BHP, BlueScope Steel, ERM Power, Anglo Coal, Glencore and Leighton Group companies. Mike has also carried out qualitative risk assessments of oil and gas industry projects in the United Arab Emirates. Prior to joining Broadleaf as an Associate Director in 2004, Mike was Manager, Strategic Risk Management Systems within the corporate office of Telecom New Zealand Ltd, with a corporate governance and...
Read moreSwitchyard protection fire risk
...fire would have been lost production and damage to the smelter if it lost power and cooled down in an uncontrolled manner. Challenge The plant’s insurers requested that the walls be replaced to reduce the risk of fire damaging the plant. It was unclear whether the cost of replacing the building would be justified. Services provided Using the results of the fire study with estimates of the time required to rebuild and of the cost of doing so, as w...
Read moreRisk management: modelling future costs
...na on 21 March 1995. With a reputation for risk analysis for hydroelectric power plants in the USA, offshore oil platforms in Canada, the Trans Alaska Pipeline and the Year 2000 Olympic Games in Sydney, the Australian Dr Cooper explained how he can help in structuring relationships between possible risks and how he is developing cost models to assist decision making. Models that give answers His aim: to show management 'simple models and graphs, n...
Read moreAchieving the life-of-mine plan
The operator of a large gold province needed to update its Life-of-Mine Plan (LMP) and to incorporate risk and uncertainty in it. The LMP formed the base for a simplified model of the mine operations over a multi-year period, and it was an important input to the analysis of future capital investments in the mine for both the operator and the owners. The modelling exercise we conducted generated a forecast of NPV, and it encouraged managers to thi...
Read moreUpgrading a major urban sewer
This case concerns the upgrade of a large sewer serving hundreds of thousands of people across a catchment covering suburban areas and a central business district. The objectives were to identify and set priorities for the risks associated with the project and to develop action plans for treating the most important ones. The value of the risk assessment lay in setting priorities that allowed the project team to focus on the important matters firs...
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