The Company takes a comprehensive approach to the identification and management of project risks, in accordance with AS/NZS ISO 31000:2009 Risk Management and recognises that there are a wide range of project specific risks, generally as follows:
- Head contracting
- Project set-up
- Design and documentation
- Cost and budget
- Procurement and resources
- Environmental aspects and impacts
- Work Health and Safety
- Construction activities
- Schedule and programme
- Quality Assurance
- Commissioning and handover
- Defect liability and maintenance period
It is the Company’s aim to ensure that these various categories of risk are recognised, the probability and consequences are evaluated; and appropriate strategies are in place for their management.
The Company identifies risks and applies controls as appropriate to manage the risk aspects and impacts of its operations and activities.
Every project undergoes a risk management assessment. The implementation of the Company’s Risk Management Process on each project places responsibility on the Project Manager to ensure that:
- An effective risk management strategy using the hierarchy of control (HIRAC) is used to assess the risk levels of identified hazards is used.
- The process is clearly documented in the site specific project management plans. Consultation with Company Supervisors and Employees, Design Consultants, Subcontractors and the Client in respect of risk management issues are proactive and ongoing through the life of the project.