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Lend Lease Stratford City Regeneration Project Uses Predict! Risk Management
February 2009
Lend Lease, the preferred development partner for Zones 2-7 of the Stratford City regeneration scheme, has implemented the latest risk management technologies and processes to help ensure the successful delivery of this key project on budget and within tight timescales. It has deployed Predict! 4, the latest enterprise version of Risk Decisions’ powerful suite of risk management and analysis software and is currently embedding risk as a core process and procedure.
Phase One of the Stratford City project involves the construction of up to 3000 residential dwellings andrelated accommodation that are due for completion in late 2011. Lend Lease is leading a development team that includes Bovis Lend Lease as project and construction manager for the residential development and infrastructure.
Predict! was selected after a rigorous ITT process which included a detailed analysis of all potential solutions. Risk Decisions was one of the only suppliers able to demonstrate a track record of successful implementations and delivery of high levels of support to organisations of a similar scale working on large complex projects. Predict! was also one of the only systems to meet all Lend Lease’s requirements for an intuitive and easy to learn system that could be configured to meet the needs of a wide range of different users across the organisation.
According to John Walsh, Head of Risk, Athletes Village Stratford: “Predict! is enabling us to meet all regulatory requirements for corporate governance and themanagement of risk and provides stakeholders with high levels of confidence in our ability to deliver this complex project on time and within budget. It will play an important role in increasing accountability, identification,assessment and role in the management of all risks.” Lend Lease has installed the complete Predict! suite of risk management tools including Predict! Risk Controller and Predict! Risk Analyser. It intends to implement Predict! Risk Controller Lite, a unique solution that uses familiar spreadsheets to enable infrequent and remote users to provide regular updates on risks. This module will also be a key change management tool to assist in the embedding of risk management across the organisation and will be deployed early in 2009.
Prior to installation on Lend Lease’s servers based in Atlanta, USA, Risk Decisions conducted a masterclass to introduce the concept of risk management at the highest level and a series of workshops with different stakeholder groups to determine configuration requirements. The company has also provided additional consultancy support to assist with stakeholder mapping and setting a framework to enable risk management to be rolled out.
Of particular importance to the Stratford City project is Predict!’s enterprise dashboard summary that provides a clear view of all risks across the organisation and enables them to be managed across different layers for rapid resolution. Risks can be categorised and scored with qualitative and quantitative impacts scaled for interpretation from different stakeholder perspectives.
