A multibillion-dollar mining project in central Queensland faced significant risks to schedule. Potential long delays, cost blowouts and the knock-on impact to the client’s reputation were at stake.
- Risk information was dated and unconsolidated.
- The project team was focused on fire fighting daily issues.
- Risk management was treated as a compliance issue, not a key business tool.
The Programme Consulting Solution
- Established a firm foundation to commence risk management.
- Consolidated risk information into a single source.
- Worked with stakeholders and conducted project reviews to validate existing risk information and identify new risks.
- Conducted risk assessment and cost benefit analysis to determine which risks provided the greatest time and cost improvements with the least effort.
- Developed risk treatment plans that fed into the client’s master schedule and time management system (Primavera).
- Developed change forms to support the funding for risk treatments.
- Developed a risk dashboard for daily use by the project team.
- Measured the actual time, cost and other benefits achieved.
- Savings of tens of millions of dollars with the potential for greater future improvements.
- An increased focus on planning and treating risks that help achieve business objectives.