Risk management is an integral part of the management of the project. DHS, in conjunction with RWH and Melbourne Health and various consultants and advisers, developed a comprehensive risk management matrix for the design, construction and commissioning phase of the RWH redevelopment project.
This document has been structured in accordance with Australian Standards (AS/NZS 4360:2004) and the state's Partnerships Victoria Contract Management Guide.
The project's construction risks and issues have been identified, and prioritised according to impact and likelihood. The risks and issues are monitored, managed and reported on a regular basis.
A summarised risk register is presented to the steering committee as a standing agenda item. The risk register is updated with input from the PCG and the steering committee, with the project director responsible for the updating of the risk register. The project director attends both the steering committee and PCG meetings.
Although construction risks have largely been transferred to the project company, and it is responsible for the management of these risks, the PCG is responsible for monitoring and reporting of construction risks. Further comfort over the status of these risks is also obtained from the independent reviewer and the independent report supplied solely to the project director.
Emerging risks and issues are effectively identified, monitored and managed proactively with key stakeholders. A number of risks arose during the construction phase, however, they have been well managed and have not had an impact on the project in terms of time or budget.