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.
Active Risk 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.
Looking across the board, and having talked to Sword GRC, we felt that ARM was the only suitable product on the market for us. We could see how an enhanced tool like ARM could help us manage and handle risks better – the accountability, better user interface, having identified risk owners and the cascade reporting all captured our interest. This, and feedback from some of our partners on how they used the tool, resulted in our final selection.
We recognized from our gap analysis both from internal consultation and externally with customers that risk management was a priority.
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