Warwick University MSc. Course 2015Project Controls

Types of Risks Project Development

Procurement Project Delivery Insured Risks

Political risks Contractors risks (C & P)

Health and safety Employers Liability Insurance(ELI)

Cost escalation/scope creep

Client risks (C & P) Cost and programme

Contractors all risks/Project Insurance(CAR)

Environmental Impacts

Procedural risks(process challenges)

Public Safety Public Liability(PL)

Reputational Risks Tendering costs Environmental Impacts

Professional Indemnity

Warwick University MSc. Course 2015Project Controls

Contractors risk monitoring—Risk Premium

Risk identified Likelihood Impact Risk Premium

Subsidence event 20% £200,000 £40,000

Adverse ground conditions

10% £550,000 £55,000

TBM major breakdown

10% £1,000,000 £100,000

Environmental Pollution incident

5% £400,000 £20,000

Warwick University MSc. Course 2015Project Controls

Risk Premium Monitoring

5-Nov-01 24-May-02 10-Dec-02 28-Jun-03 14-Jan-04 1-Aug-04 17-Feb-050

5,000,000

10,000,000

15,000,000

20,000,000

25,000,000 Risk Profile to 12/12/03Residual Risk

Risk Budget

Risk Monies Spent

Risk Remaining

Total No of Risks 358No. Closed out 239 No.