Fully understanding the factors that add risk and managing those factors are both critical to the success of any project. Davis Langdon provides a comprehensive value and risk management consultancy designed to correctly define and articulate project objectives, enhance the delivery of value and reduce risk throughout the project life cycle.
Early in the process of a development we bring together all the stakeholders for the project and facilitate a risk identification session. At this time, project objectives are clearly established and aligned with the client’s business requirements. Risks are evaluated for their likelihood and impact on both schedule and cost. We work with the stakeholders to identify ways to reduce, transfer, avoid and manage those risks, and regularly update the risk register and mitigation plans as the project progresses.
We develop a cost risk model to determine final cost ranges. And as each project progresses, we update the cost risk models to monitor the level of contingency required to complete the project, and advise the client as to how much contingency is required as the uncertainty diminishes. Similarly we develop schedule risk models; we assess uncertainty around planned durations, the impact of specific risks and determine the likely range of completion dates and confidence levels in the completion target. Davis Langdon continually reviews and updates the risk models during the design and construction phases.
Davis Langdon’s risk consultancy is led by skilled risk workshop facilitators, trained to improve communications and understanding, and collaborative team working. We ensure that the project team has identified and actively managed those events that could otherwise impair a successful project outcome. Consequently, our projects are more likely to deliver a result that meets clients’ expectations. We help our clients create the conditions for success.