Risk Analysis & Management
SMA’s robust risk analysis approach has helped hundreds of teams identify and mitigate risks before they are realized.
Leaders in innovative, research-based risk analysis
9 out of 10 transportation infrastructure projects go over budget. This is largely driven by underestimating costs and failing to take into account critical uncertainty.
SMA’s risk analyses use a “Structured Risk Analysis Process” that has been developed and refined by our company over the past 20+ years. The approach makes use of a rigorous technique to understanding the project context and then filtering this context down to the key risks and risk drivers on the project. This creates a clear picture of how risks arise and subsequently how they could impact the project. The most important use of risk analysis is making decisions. When performed properly, risk analysis allows for efficient and effective mitigation of risks through the planning, design, construction, and operations phases of the project. This context-based approach combined with our risk quantification techniques and use of Monte Carlo simulation create an accurate picture of risk exposure on the project and a clear path to reducing it. This leads to fewer surprises at the tendering stage, and a better-managed project overall.