The Project Risk Lead is responsible for identifying, analyzing, and mitigating risks that may impact the cost and schedule of projects. The ideal candidate should have a strong background in risk management methodologies, cost risk analysis, and schedule risk analysis. Work closely with project teams to ensure that risks are effectively managed throughout the project lifecycle.
Responsibilities
- Risk Identification: Proactively identify potential risks to project cost and schedule through various techniques such as brainstorming sessions, risk checklists, and historical data analysis.
- Risk Assessment:
- Conduct thorough assessments to define and analyze potential risks associated with project cost and schedule.
- Evaluate the gravity of each risk by considering its consequences and impact on project objectives.
- Identify both internal and external cost risks
- Stem from changes within organization, such as poor budgeting practices, staff turnover, or technology issues affecting productivity.
- Identify circumstances beyond our control, such as fluctuations in raw material costs, natural disasters, or regulatory changes.
- Collaborate with cross-functional teams to gather relevant data and information for risk analysis.
- Risk Analysis: Conduct detailed cost risk analysis (CRA) and schedule risk analysis (SRA) using quantitative and qualitative methods. Utilize tools like Monte Carlo simulations to assess the potential impact of identified risks. Periodically run Risk Analysis on Cost and Schedule.
- Risk Mitigation: Develop and implement risk mitigation plans in collaboration with project teams. Monitor the effectiveness of risk responses and adjust strategies, as necessary. Develop risk management controls and systems tailored to address cost and schedule risks. Design processes that eliminate or mitigate potential risks, ensuring project stability and predictability. Create contingency plans to manage crisis, allowing us to respond effectively when unforeseen events occur.
- Risk Reporting / Stakeholder Communication: Prepare regular risk reports for project stakeholders, highlighting key risks, their potential impact, and the status of mitigation efforts.
- Continuous Improvement: Contribute to the continuous improvement of risk management processes and tools. Stay updated with industry best practices and incorporate them into the organization's risk management framework.
- Training and Support: Provide training and support to project teams on risk management tools and techniques. Effectively communicate risk findings, recommendations, and mitigation strategies to project stakeholders.
- Policy Evaluation and Improvement: Review existing policies and procedures related to cost and schedule management. Identify weaknesses and propose enhancements to minimize risk exposure. Present recommendations to senior management for policy refinement.
Bachelor’s degree in engineering or a related field. Professional certification in Risk Management (e.g., PMI-RMP) is a plus.
- Minimum of 10 years of experience in project risk management, methodologies, and control frameworks, with a focus on cost and schedule risk analysis.
- Proficient in risk management software and tools, such as @RISK, Primavera Risk Analysis, Deltek Acumen Fuse, ProRisk, Crystal Ball.
- Strong analytical and problem-solving skills.
- Excellent communication and interpersonal skills.
- Familiarity with auditing and reporting procedures.
- Ability to work effectively in a team environment and manage multiple priorities.
Wood is a global leader in consulting and engineering, helping to unlock solutions to critical challenges in energy and materials markets. We provide consulting, projects and operations solutions in 60 countries, employing around 35,000 people. www.woodplc.comDiversity Statement We are an equal opportunity employer that recognises the value of a diverse workforce. All suitably qualified applicants will receive consideration for employment on the basis of objective criteria and without regard to the following (which is a non-exhaustive list): race, colour, age, religion, gender, national origin, disability, sexual orientation, gender identity, protected veteran status, or other characteristics in accordance with the relevant governing laws.
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