Risk Environment Monitoring

Large infrastructure projects are complex in nature consisting of many workstreams ranging from Design and Engineering, Construction, Planning and Scheduling, Health & Safety, Environment, Human Resources, Geotechnical etc. As a Project Risk Manager keeping an independent and informed view on the risk environment across the end-to-end project can be a challenge.

While Project Risk Register Review sessions with each of the Workstream Leads and key Subject Matter Experts can help identify and provide input to understand the operating environment of the project and emerging risks; a supplementary approach should involve independently monitoring key reporting and data on a near real-time basis periodically (i.e. Weekly).

By being ahead of the curve, a Project Risk Manager can appropriately prepare and understand emerging risks prior to discussions with Workstream Leads, allowing targeted risk-based conversations. An added bonus, where transparency on-project risks may not be forthcoming, it facilitates an independent understanding of the risk environment regardless of any potential unwillingness of stakeholders to be open and honest and discuss any concerns that they may have.

An effective way of achieving this can involve breaking down and performing deep dives across each Workstream within the project to understand key reporting outputs of various project teams. In many instances the 'low hanging fruit' includes Board and Management Committee reporting, Issues and Incident databases etc. However, developing strong relationships and demonstrating value over a perception of risk as a 'box ticking' activity can unearth and provide access to a myriad of reporting sources that are sometimes maintained closely within each workstream and kept to a limited distribution network.

The below table is an example of types of reporting and data within an infrastructure project that may be available to help monitor the project risk environment. It is important to note that the below is not an exhaustive list, Board and Management reporting will provide insights into several other key areas; however delving deeper into specific Workstream reporting can help spot emerging problems before they make the headlines in general reporting and lead to more proactive risk identification and management.

Reporting Source	How It Informs an Understanding of Risk Environment
Construction Site Reports	Productivity - Production rates against plan and identification of emerging risks against achievement of deliverables to project schedule. Build Quality / NCR's - Increases in Non-Conformance Reports (NCRs) highlighting a deterioration in build quality and risk to achievement to the delivery of required standards as defined within the Business Case. Aged NCR's highlighting potential poor compliance on adherence to quality management systems. Health & Safety - Identification of systemic health and safety issues and potential control weaknesses that support the management of health and safety across construction work fronts. Field Issues - An understanding of particular events occurring that may help identify systemic control weaknesses or emerging critical issues that have the potential to compromise against the deliverables of the project.
Project Schedule Reporting / Basis of Program	Critical Milestones - Tracking against delivery of critical milestones including reduction in float which may identify emerging risks to achievement on the delivery of the overall project schedule.
Design & Engineering	Design / Engineering Packages - Status on critical design packages including target IFC dates against schedule which can inform emerging risks on design readiness.
Geotechnical Hazard Reports - Site Based	Geotechnical Hazards - Upcoming geo hazards (i.e. Ground Water Inflows, Asbestos, Fault Zones, High Abrasivity etc) which if not effectively managed may compromise achievement of planned production rates. Variance Against Geotechical Baseline Reports - Early indications of where actual ground conditions due not align to expected ground conditions which may compromise achievement of planned production rates. Process / Control Compliance - Adherence to required processes and controls (i.e. Drill Probes, monitoring etc) and help identify any specific work fronts at higher risk of failing to adequately manage adverse ground conditions.
Procurement / Supply Chain	Electrical & Mechanical (E&M) - Tracking against delivery of critical supply chain deliverables and identification of potential schedule delay. Factory Acceptance Testing (FAT) - Testing results from manufacturing outputs informing potential supply chain delays.

Creating a re-occurring calendar timeslot that includes a list of each reporting source can help manage and stay on top of the above listed information sources.

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