Project Risk Management

Principal Accountabilities

• Provide Risk Management professional advice to Project and Programme Managers.
• Application of risk management processes and systems.
• Lead the identification of risks on behalf of the Project Manager, providing experience based independent challenge to the project team and stakeholders Role Profile
• Lead the retrieval and analysis of background information from Project and Programme Managers / project documentation, its environment and lessons learnt from previous related projects.
• Research into projects key stakeholders prior to risk workshops to inform the capture of appropriate Risks.
• Organise and facilitate risk workshops with all relevant team members and external stakeholders to ensure effective contributions to the forming of the risk register.
• Across multiple complex projects and programmes, capture all risks to the appropriate level of detail, applying a range of techniques, such as brainstorming workshops, prompt lists, Delphi techniques and one to one interview.
• During risk workshops / reviews, provide independent challenge based on expert experience to ensure all relevant risks are considered, proposing new ideas based on your previous experience or knowledge of similar projects.
• Ensure all required information is captured clearly and unambiguously within the Risk Register, including owners, actions, dates, categories. assumptions and risk mitigation actions, as defined in the Risk Management Procedures.
• Administration responsibility of risk management database.
• Define the project or programme risk appetite to determine the risk tolerance level in relation to project overall cost and using your own professional judgement establish whether a risk should be assessed quantitatively / qualitatively.
• Carry out complex project and programme Quantitative Cost Risk Analysis (QCRA) and Programme Schedule Risk Analysis (QSRA) using industry recognised risk analysis software to ensure suitable project budget and a deliverable project schedule is established.
• Review QRA model outputs and provide recommendations to key stakeholders and the project team on the significance of the potential delays and / or cost increase.
• Be the risk technical specialist actively contributing to relevant working / steering groups.
• Identify and report risk trends and highlighting the top risks (Critical and High) to project delivery. Actively review and monitor those risks to reduce the overall risk profile.
• Work to tight deadlines and timescales, resulting from significantly changeable priorities, producing quality, complex reports and analyses based on risk and issues relating to each Project.
• Prepare and lead on periodic reports to inform others, including the production and update of Risk Management written reports and provision of any associated information in a timely manner, to meet the wider project reporting and management requirements, ensuring quality outputs.
• Close liaison with Project Managers of any outstanding risk management activities undertaken by them to ensure risk is managed effectively on their projects.
• Actively input into the continuous improvement of the Risk Management Department.

Essentials :

Mandatory Skills

Risk Assessment, Risk Identification, Risk Mitigation