A client is responsible for the project management of a major construction project. To record and mitigate the project risks, the project management team put together a project risk register. This consisted of a spreadsheet containing information such as the risk description, the risk owner, the likelihood score, the consequence score (in terms of both time and cost), the mitigations and the status. As part of its services, RSK facilitates risk workshops on a regular basis to update the project risk register. Although the risk register provides a vitally important live record of the project risks, our client required analysis of the register to model and estimate the contingency costs required by the project.
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