IAG provided commercial and risk management services to Ausgrid who submitted a bid for the opportunity to design, develop, operate and maintain the transmission line network, including substations, for the Hunter Central Coast REX (HCC REZ). IAG’s role involved identifying, assessing and quantifying project risks and opportunities, while also developing the risk management plan and implementing improvements to our client’s general risk management practices. To identify and assess project risks, IAG engaged with engineering, delivery, commercial, land planning, stakeholder management, environment and procurement functions across the multiple packages of work.

To quantify the risks, IAG developed an integrated model using Monte Carlo analysis that incorporated cost and schedule uncertainties, as well as discrete risk events. Our approach involved close liaison with estimating and planning functions, as well as facilitation of workshops with key stakeholders to establish the risk and opportunity range analyses that fed into the model. The outputs of the analysis were used to inform the client’s contingency position to include in the bid, while also shaping risk management priorities. Our risk role extended into commercial support, where we assisted our client to establish commercial strategies that optimised management of key risks.