For global engineering and construction companies, managing risk is a part of every project. Today, projects may range from a $10 million dollar office building that is self-performed, to a $40 billion dollar joint venture requiring 10 years to complete and hundreds of sub-contractors.
For years, firms have competed for projects on the basis of their project management skills. Today that isn’t enough. Top firms are differentiating themselves with advanced project risk management. Active Risk empowers companies to create competitive advantage at every phase of the project, from the “go”/”no go” decision on the bid, to initial estimate, planning and scheduling, through design and construction, to operation and maintenance.
Sword GRC is a proven leader in project risk management software for engineering and construction firms. Active Risk Manager (ARM) enables business leaders and project leaders to understand the risks of a project up front so that they can be proactively managed. This comprehensive view means that cost engineering improves, timeline delays can be avoided and opportunities for schedule-based bonuses can be identified up front. Because ARM provides easy access to real-time data, unlike spreadsheet-based risk management, resource allocation decisions become more accurate and margins can be better protected.
“Skanska believes that the project represents the world-class standard for planning predictable schedules, collecting accurate progress information, acting on that information and achieving all key milestones. The project in its entirety completed eight weeks early, smashing all financial targets.”
“We have developed the first Australian ‘live’ risk register that operates across disciplines, is enterprisewide and national. Our framework is underpinned by our use of Active Risk Manager and the roll out of our SHREQ initiative has transformed our approach to safety and other areas of risk management. Business exposure is minimized, activities are targeted where they are most needed and, most importantly, safety is improving on an enterprisewide basis. The potential benefits for the Australia rail industry are enormous”
ARM has been deployed on hundreds of large capital projects spanning all five continents. Examples include refineries, industrial complexes, power plants, sporting venues and transportation infrastructure for successful industry players including the Olympic Planning Committee, Crossrail, Parsons Brinckerhoff, Al Habtoor Group, Leighton Contractors, Bechtel, Atkins, CH2M HILL, MMC Gamuda, Orascom, Skanska, Abi Group and many others.
Popular ERM capabilities for engineering and construction:
- Project & Program Risk Management
- Schedule Risk Analysis
- Compliance Management
- Health & Safety
- Incident Management
- Project Controls