The risk advisor selected should be a person or organisation familiar with the risks encountered in project alliancing and, where appropriate, should be a member of a relevant professional association such as the:
• Risk Management Institution of Australasia Limited;
• Australian and New Zealand Institute of Insurance and Finance; and/or
• Institute of Chartered Accountants, Australia.
The risk advisor should be appointed by the Owner, and the duties and obligations of the risk advisor are to the Owner.
The risk advisor is appointed by the Owner at the time the Business Case is being developed. The main tasks of the risk advisor are to perform the risk analysis tasks outlined in Appendix C:
• conduct a project risk analysis;
• allocate the risks within the alliance framework;
• participate in the Non-Owner Participant selection process; and
• review the risk matrix in the underwriting submission.
The appointment of the risk advisor should be for the period starting from the development of the Business Case until the time that the insurance program is placed. The risk advisor should be remunerated on a fee-for-service basis.