Risk management in a major project like Tripla
TRIPLA PROJECT RISKS
The risks of the Tripla project were comprehensively defined at the start of the project. Among other things, they include:
? Strategic risks: Zoning, building permits, economic cycles, leasing and investor sales, personnel, certain technical risks.
? Operational risks: Schedule, quality, safety, technical and legal risks, communication and logistics, etc.
organisation of risk management
The risk management for Tripla takes place at many levels. The risk management has been organised as follows:
? The steering group focuses on strategic risks and their management.
? The Senior Project Director monitors strategic and operational risks.
? The design, production, sales and concept directors manage operational risks.
? The project has been divided into several sub-projects to make it easier to manage. Project managers monitor the operational risks of their projects.
Risk management practices
? Clear objectives and responsibilities.
? Continuous risk identification and monitoring — immediate reaction to deviations.
? Seamless co-operation with stakeholders (authorities, residents, investors, subcontractors, etc.).
? Standardised operations and production planning.
? Dividing the project into manageable sub-projects.
? Highly competent personnel and a strong culture.
The project’s risk level has declined significantly as investor sales and leasing has progressed and the foundation work has been completed. The risk level will decrease continuously as construction and leasing progresses further. Thanks to excellent planning and execution, the project is even ahead of schedule.