Almost every company has a risk register. It is usually opened at the start and not reviewed again until the risk has already become a problem, while the contingency is spent without knowing against what. In renewables the major deviations are rarely technological and come from permitting, grid access, the supply of main equipment or the solvency of contractors. We review the register the company already has and change it where necessary.
Our view
- 01
The register is opened in the feasibility study, when the site, the layout or the contracting strategy can still change and each risk costs a fraction of what it would on site.
- 02
Contingency is allocated risk by risk and released when the risk passes. A fixed percentage of the budget cannot be defended before a committee or a lender.
- 03
Each risk carries the date from which it becomes a problem. That date ranks urgency better than severity, and a register that does not change between two reviews is not being managed.
What we deliver
We design the process and put it in place with the company's team on its live projects, on the tools it already uses.
- A common register, with the same fields and the same probability and impact scale on every project.
- The contingency method by risk, with its release rule.
- The governance of the process, with owners, approval thresholds for contingency and the monthly review.
- The monthly risk report for management, with the consolidated exposure of the portfolio.
- Training for the team, and the indicators and meetings the company uses to follow the process, with our support if needed.
ExhibitRisk exposure, from feasibility to operation
Agents and tailored tools
Where there is enough data, and if the company wishes, we deploy an artificial intelligence agent that alerts each owner before their dates fall due, keeps the register up to date with what comes in from site reports and suggests the risks that recurred on similar projects. It also prepares a draft of the monthly risk report. The Project Manager reviews it and decides what is mitigated and what is covered.
What it connects to
The register is born in the feasibility study and takes its owners from the RACI matrix. Each quantified risk feeds the contingency in CAPEX control and the dates in the schedule, open critical risks are reviewed at every readiness checklist and those still live when construction ends pass to operation at handover. Those that materialise return to the portfolio as lessons learned. Each risk is recorded once, and cost, schedule and the phase gates take it from there. That is a connected PMO.