Risk Assessment & Quantitative Risk Analysis (QRA)

In the dynamic realm of construction, uncertainties are inherent. However, the key lies in transforming these uncertainties into manageable elements through a systematic and data-driven approach. Comprehensive Risk Assessment coupled with Quantitative Risk Analysis (QRA) serves as the compass that guides decision makers by providing a clear numerical understanding of potential risks and their impacts.

IPNZ chooses to combine both cost and schedule risk analysis to ensure our clients are fully aware of their overall risk exposure and can provision for not only risks that may require additional funding but for any potential Critical Path Delay.

Our Approach

1. Risk Identification

Our process begins with a meticulous examination of your project, identifying potential risks at each phase. From design complexities to unforeseen environmental factors, we leave no stone unturned.

2. Data Collection

Accurate data is the backbone of our quantitative analysis. We leverage both historical project data and industry benchmarks to ensure a comprehensive understanding of risk factors.

3. Probability Assessment

Through advanced statistical modelling, we quantify the likelihood of each identified risk occurrence. This step allows for a precise evaluation of the probability of different events affecting your project.

4. Impact Analysis

Understanding the potential consequences of identified risks is crucial. Our team help in assessing the impact on Project Timelines, Budgets & Forecasts, Health & Safety, Reputation, and Environmental consequences and overall performance, providing you with a holistic view of the potential outcomes.

5. Risk Mitigation Strategies

Armed with quantitative insights, we collaborate with your teams to develop targeted risk mitigation strategies. These strategies are designed to minimise the likelihoods and impacts of identified risks and enhance the overall resilience of your project.

Key Benefits of IPNZ’s Approach to Risk Management

1. Informed Decision Making

Our quantitative approach empowers you with data-driven insights, enabling informed decision-making at every stage of your construction project.

2. Cost Optimisation

By identifying and addressing potential risks early on, we help you optimise costs, ensuring that your project stays within budgetary constraints.

3. Programme Certainty

Predictive analysis allows for better scheduling and project timeline management, reducing the likelihood of delays.

4. Enhance Stakeholder Confidence

Transparent risk communication builds confidence among stakeholders, fostering trust and collaboration throughout the Project Lifecycle.