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
Nine 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 analysis uses a Structured Risk Analysis Process that has been developed and refined by our company over the past 20+ years. The approach makes use of rigorous techniques to understand the project context before filtering this context down to the key project risks and risk drivers.
When performed properly, risk assessment and management 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 our 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.