Most engineering projects and their decision-making processes are affected by uncertain circumstances and potential risks. Therefore, having an effective and efficient contingency assessment and management plan (including both time and cost requirements) is fundamental for project success.
Such a plan provides decision makers and responsible parties with a better understanding of key uncertainties and risks that could affect the project objectives. It also reveals the adequacy and effectiveness of contingencies already in place.
Engineers Australia’s Risk Engineering Society (RES) has identified the need for a new guideline on contingency assessment and management incorporating a risk-based decision-making approach to project control. RES is calling for expressions of interest from engineers and risk practitioners with practical experience in this area to participate in a working group to compile such a guideline.
For further information and to register your interest, contact Dr Dietrich Georg, coordinator of practice notes, at [email protected] or phone 02 9438 1533.
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