Risk Management Services
Major infrastructure projects and delivery programs have a history of problems. Cost overruns, delays, failed procurement, or unavailability of financing are common. Significant under-management of the risks throughout the life cycle of the project/program can further exacerbate the problems, as the management of risk is not properly considered in planning through construction.
To more proactively address potential problems, agencies are in need of robust risk management programs, processes, and tools.
ARA’s experienced risk management professionals and subject matter experts use techniques and software tools developed from national-level research and honed on both large and small complex projects and programs. We have found that the secret to successful risk management is tailoring the process and using the existing organizational structure and culture. One size does not fit all.
Recent experience includes the following:
Risk Management Consulting
ARA’s certified risk managers have experience on all sizes of projects (up to $4B), including work in environmental process, preliminary engineering, procurement, construction, alternative project delivery, risk-based asset management plans, process development, and training. We represent owners, designers, and contractors. We can provide third party analysis, and we can assist design-build teams in go/no-go decision making.
Strategic Highway Research Program 2
ARA is the delivering the National Highway Institute training for the SHRP2 R09 Project, Managing and Reducing Risk in Accelerated Highway Construction Projects. This training is based on the National Academies of Science’s research on modern risk management processes. ARA has developed an easy-to-use risk management software tool to as part of this training.
ARA also provides support to the Federal Highway Administration and American Association of State Transportation Officials SHRP2 R10 project, Deployment – Complex Project Management.
Alternate Project Delivery
ARA has extensive experience in alternative project delivery, representing owners, engineering firms, design-builders, and financers. We have a comprehensive view from all perspectives—no matter your role, we add value.
Training and Technology Deployment
ARA personnel frequently speak on the subject of risk management at universities and professional conferences. They have chaired or served on numerous National Cooperative Highway Research Program panels involving risk management. As noted above, we are also delivering the NHI course on risk management. We have also developed procedure guides for state agencies and at the national level, and we have written risk management specifications for design-builders.
With a focus on identifying and implementing opportunities, while identifying and responding to threats, we help clients reduce costs and accelerate accomplishing their goals.