DAS spearheaded a new risk team with the aim of implementing improved risk management processes and tools to support a major water company with the delivery of their highest value programme of work out to 2032. The programme’s primary goal was to ensure a consistent and robust supply of high-quality drinking water for customers during droughts, while also minimising environmental impact.
Initially, we collated the existing risk registers and worked closely with stakeholders to reduce the identified risks by 78%. The resultant risks were reviewed to capture cause, event and effect, risk score, financial value, and ownership. We advised risk owners when creating and implementing mitigation plans and refined the reasons for the probability, impact, and finance values. This enabled the programme to address and escalate risks appropriately.
Progress was made through various phases of work, including the development and implementation of new risk assessment criteria aligned with the company’s corporate risk standards. Moreover, we provided training on the risk management tool – Programme Insight Manager – to enhance the accuracy, consistency, and transparency of risk reporting. We also developed a risk management improvement plan to develop risk management across the programme and enable quantitative schedule risk analysis.
Subsequently, our client’s risks management capabilities developed considerably over a nine-month period and risk is now used to underpin business decisions. Testament to this, the risk team were shortlisted for the Risk Management Programme of the Year award in 2023.
