First case usage of ARM for an offshore wind farm
The Triton Knoll wind farm project is an important future source of home-grown renewable energy in the UK. Now in the construction phase with the installation of the onshore electrical system, the offshore array and infrastructure will be located 20 miles off the coast of Lincolnshire and 28 miles from the coast of north Norfolk. The joint project venture is majority-owned by RWE Renewables, with partners J-Power and Kansai Electric Power. Headquartered in Essen, Germany, RWE Renewables employs staff across the globe and is a subsidiary of RWE.
Streamline processes and reduce the administrative burden
Traditionally RWE Renewables relied on spreadsheets to develop risk registers, calculate quantitative risk assessments and manage its contingencies. However, the administrative burden was preventing Risk Managers from becoming more involved with decision making and managing contingency rather than managing a spreadsheet.
RWE Renewables wanted to streamline processes and methodologies, creating a central repository of information to allow a transfer of knowledge to all future wind farm projects. Following a rigorous due diligence and procurement process, Active Risk Manager (ARM) from Sword GRC was selected for its advanced functionality and flexibility.
Live data supporting risk management decisions across time zones
ARM Desktop, ARM Risk Express and ARM Risk Performance Manager (RPM) are used by all members of the project team which consists of 70 people. The team are dispersed across multiple sites within the UK and EU. ARM Risk Express allows the project team to update risks, exposures and actions in real-time whilst in situ, ensuring the rest of the team have access to the very latest live data from remote locations. The intuitive interface runs on any browser, allowing access from mobile devices, laptops or desktops.
ARM has delivered enterprise-grade functionality to the Triton Knoll project team allowing Risk Managers to update risks within a standardised and easily accessible environment whether this be the office, or at site using a mobile device, removing the need to manually record the data into a spreadsheet to enter at a later date. This not only saves time and reduces administration but ensures that the entire team has visibility of the latest live data.
Greater insight improving decision making and future learning
ARM is used across the project team to track the project contingency exposure. Information is held in a central repository rather than silos, providing better insight across the project. Increased clarity has improved contingency budget planning and decision making, delivering better business outcomes and greater engagement within the risk management process across the project.
Advanced reporting functionality
Triton Knoll has comprehensive risk identification processes to identify, consolidate, and prioritise the risks facing the project. A report is regularly produced highlighting to the board and shareholders the important risks with a quantitative assessment of the probability and impact of each risk.
Previously the report would be created manually and would be a time-intensive operation, today the report can be easily produced using ARM Risk Performance Manager (RPM) without the need for IT department resources. ARM RPM allows the team to produce customised reports for the board and investors in a variety of formats such as dashboards, charts and matrices to make the information easily digestible and relatable to the audience.
Retaining key risk principles whilst building knowledge
Accumulating a knowledge base within ARM has been invaluable in driving the monthly risk workshops where all participants contribute and benefit. The workshops are used to track mitigations and evaluate the performance of the mitigation action taken.