Effective and easy-to-use Predict! software helps manage project risks
The Inch Cape project team required support to move from administratively intensive spreadsheets to a more efficient and effective way of managing risk across the complex project as it progressed towards construction. Oxford-based Risk Decisions, with its Predict! software was identified as providing an easy-to-use interface, allowing infrequent users to quickly and easily keep risk and mitigation actions up to date. The software’s in-built auditing and history provides accountability and also the ability to monitor trends over time. The visibility of risks across multiple different facets of the project allows risk managers to identify commonalities and propose the most efficient mitigation strategies.
Risk Decisions worked closely with the Inch Cape team to deliver a Predict! system configured to meet requirements within a short timeframe, leveraging its standard Predict! Rapid Deployment methodology.
Outcomes
Renewable energy is a strategic growth market for Risk Decisions, building on the organisation’s existing experience across energy and infrastructure. Renewable projects worldwide need to manage and mitigate risks and exploit opportunities, and the more innovative the project, such as floating wind or energy islands, the more risk needs to be understood and mitigated. The experience Risk Decisions has gained from implementing Predict! on the Inch Cape project has given other renewable energy companies the confidence that the software can also help them deliver much needed projects on time and to budget. In turn, this has given funding partners the confidence to back such initiatives, mitigating risk across portfolios.
Risk Decisions Technical Sales Manager Trevor Jay said:
“We are delighted to add Inch Cape to our list of renewable energy customers. Every year the world delays tackling climate change, the costs – which go a long way beyond just financial £ and $ – mount higher and higher. The focus on managing the risks and finding opportunities for technological innovation has never been more important.”
July 2024
