Risk Contingency and Management Reserve at AWE – A Case Study

Introductions

Objectives

The Risk Budget

Overview of Confidence Modelling

Overview of Confidence Modelling

Why does AWE Confidence Model?

Further Reasons AWE Confidence Models

Confidence Modelling Projects

Inputs to The Model

How inputs Interact with Each Other

Tools to create the Confidence Model

Dividing the Risk Pot

Dividing the Risk Pot

Noah’s Ark Project

Management Audit of ARK Project

ARK Project – Risk and Issues

ARK Project – Change Process

ARK Project – Successful Outcome

Managing Risk

Example – Early Access to Building

Issue Management

Issue – Early Access to Building

Change Control – Variation Note

Variation Note - Early Access to Building

Change Control – Change Note (1)

Change Control – Change Note (2)

Change Note - Early Access to Building

Risk Drawdown

Reporting on Drawdown – Impacted Risks

Reporting on Drawdown - Reserves

Summary

Any Questions? Observations?