It Project Risk Management Case Study

Maker of the world's leading risk and decision analysis software, @RISK & the DecisionTools Suite
Brazilian Petroleum Institute
Product: @RISK
Application:Oil Exploration
Bucknell University
Product: PrecisionTree
Application:Technology Implementation
Cambridge University
Product: @RISK
Application: Climate Change
Columbia University
Product: @RISK
Application: Energy and Public Policy
Cornell University
Product: @RISK
Application: Financial Management
Curtin University of Technology
Product: @RISK
Application: Statistical analysis
DePaul University/Advanced Analytics LLC
Product: DecisionTools Suite
Application: Sports Wagering
Illinois State University
Product: @RISK
Application: Pharmaceutical R&D, Net Present Value, Internal Rate of Return
Illinois State University
Product: @RISK
Application: Real Options and Finance
INCAE Business School
Product: @RISK
Application: Finance and Capital Markets
Johnson Graduate School of Management, Cornell University
Product: @RISK
Application: Election Forecasting
Missouri University of Science and Technology
Product: @RISK
Application: Mining Engineering
Pace University
Product: StatTools, DecisionTools Suite
Application: Operations Research
Shanghai Jiao Tong University
Product: DecisionTools Suite
Application: Engineering system design and optimization
Swinburne University of Technology
Product: @RISK
Application: Venture Capital Management
Technical University of Denmark
Product: @RISK
Application: Transportation research
Tulane University
Product: @RISK
Application: Food Safety
University of Adelaide
Product: @RISK
Application: Prediction of metal corrosion in salt water
University of Houston
Product: DecisionTools Suite
Application: Managerial Decision Making
University of London Royal Veterinary College / EpiX Analytics
Product: @RISK
Application: Health and food safety
University Melbourne
Product: @RISK
Application: Forecasting Dairy Operating Profits
University of New Brunswick
Product: @RISK
Application: Reducing Environmental Impact of Commercial Aquaculture
University of Pennsylvania
Product: DecisionTools Suite
Application: Organizational Dynamics
University of Pretoria
Product: DecisionTools Suite, @RISK, TopRank
Application: Viral Exposure
University of Toronto
Product: DecisionTools Suite
Application: Financial Management
University Of Victoria
Product: @RISK
Application: Lifetime Excess Cancer Risk
University of Witwatersrand
Product: @RISK
Application: Mining Engineering
Virginia Commonwealth University
Product: @RISK
Application: Value at Risk Analysis

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In Agriculture:
Cornell University / Purdue University
Product: @RISK
Application: Agriculture Policy Assessment
University of Buenos Aires
Product: @RISK
Application: Agricultural Investment
University of Tokyo
Product: @RISK
Application: Agriculture
In Environment:
Cornell University /
Lower Colorado River Authority
Product: @RISK
Application: Natural Resource Mgmt
In Energy:
Cranfield University
Product: @RISK
Application:Equipment Reliability
In Finance:
London Business School /
Novartis Pharmaceutical
Product: @RISK, PrecisionTree, RISKOptimizer, DecisionTools Suite
Application: Portfolio Management
In Medical:
Royal Veterinary College
Product: @RISK
Application: Disease Prevention
Abu Dhabi Water &
Electricity Company
Product: @RISK
Application:Demand Forecasting
Águas do Douro e Paiva
Product: @RISK
Application:Cost Reduction
Alesco Risk Management
Services Limited
Product: @RISK
Application:Risk modelling to determine optimum risk financing and insurance strategies
BC Hydro
Product: @RISK
Application:Project Analysis
Bigen Africa
Product: @RISK
Application:Demand and Cost Forecasting
Blade Energy
Product: @RISK
Application:Drilling Productivity
Carnegie Mellon University / Pittsburgh Technical
Product: @RISK
Application:Mitigating project schedule and cost overrun risk
Cinergy
Product: @RISK
Application:Acquisitions Analysis
Cranfield University
Product: @RISK
Application:Equipment Reliability
Det Norske Veritas (DNV)
Product: @RISK
Application:ROI of Different Projects
ECN
Product: @RISK
Application:Financial analysis of offshore wind farms
Enex
Product: DecisionTools Suite
Application:Project Planning
Fitness First
Product: @RISK, RISKOptimizer
Application: Energy Budget Resilience Optimization
Fluor Corporation
Product: @RISK
Application: Oil and Gas Estimating
Futuremetrics
Product: @RISK
Application: Price Hedging
Grupo ISA
Product: @RISK
Application: Investment Analysis
Hydroelectric Power in Colombia
Product: @RISK
Application: Cost estimation
IHS Energy Group
Product: @RISK Developer Kit
Application: Exploration, Drilling, and Production Analysis
Integrating Renewables with Electricity Storage
Product: @RISK
Application: Energy supply and Electricity Demand
Kinder Morgan / Riskcore Ltd.
Product: @RISK
Application: Modelling project cost contingency and escalation
L.E. Peabody & Associates
Product: @RISK
Application:Real Option Valuations of Power Plants
Major Utility in Eastern US
Product: The DecisionTools Suite
Application: Load Forecasting
Metaproject
Product: @RISK, PrecisionTree
Application: Rescue Operations
National Grid UK
Product: @RISK
Application: Modeling electricity network restoration
Northern Indiana
Public Service Company
Product: @RISK, Evolver, RISKOptimizer
Application: Pricing, Production Allocation for Regulation Compliance
Petrobras
Product: @RISK
Application: Exploration & Production
Red Leaf Resources
Product: @RISK
Application:Developing new oil shale technologies
RiskAdvisory
Product: @RISK Developer Kit
Application: Energy Production and Pricing
Rudd Asset Management (RAM)
Product: @RISK
Application: Waste disposal and renewable energy
Sark7
Product: Decision Tools Suite (@RISK, Precision Tree and Evolver)
Application: Optimising the business case for sustainable energy projects
Sinopec Engineering (Group) Co., Ltd (SEG)
Product: @RISK
Application: Evaluate petroleum and petrochemical projects valued over US$100m
Tesla Consultants
Product: @RISK
Application: Assessing Needs for Equipment Upgrades
Throughput Professionals
Product: @RISK
Application: Refinery Optimization
Tioga Energy
Product: @RISK
Application: Solar energy savings
Transelectrica
Product: @RISK
Application: Measuring and Mitigating Open Market Risk
WEnergy Global
Product: @RISK
Application: Return on Investment

SEE ALSO:
Halcrow
Product: @RISK
Application: Flood Protection

SEE ALSO: INDUSTRY MODELS
»Energy Models

Albert Fensterstock Associates
Product: NeuralTools
Application: Credit and debt risk analysis
Benemerita Universidad Autonoma de Puebla
Product: @RISK
Application: Derivatives Pricing
Cynametrix
Product: DecisionTools Suite
Application: Portfolio Optimization including IDB
Federal Home Loan Bank of Indiana
Product: @RISK
Application: Portfolio Credit Risk
FiduciaryVest
Product: @RISK
Application: Asset Allocation, Value-at-Risk
George Washington University
Product: @RISK & RISKOptimizer
Application: Debt Portfolios, Capital Investments
London Business School /
Novartis Pharmaceutical
Product: @RISK, PrecisionTree, RISKOptimizer, DecisionTools Suite
Application: Portfolio Management
LStar Capital
Product: @RISK
Application: Risk Quantification in Film Financing
Merck
Product: @RISK
Application: Value-at-Risk Exchange Rate
Netconomy
Product: @RISK
Application: Budget Forecasting
Nighthawk Intelligence
Product: DecisionTools Suite
Application: Private label credit card (PLCC) accounts for major electronics retailer
Performance Thinking & Technologies
Product: @RISK & RISKOptimizer
Application: Hedge Fund management
Procter & Gamble
Product: @RISK, PrecisionTree, DecisionTools Suite
Application: Production Siting, New Product Analysis, Exchange Rate Analysis, Real Options
Risqworx
Product: @RISK
Application: Calculating investment risk and ROI
Rusnano
Industry: Finance/Banking
Application:Private equity investment in nanotechnology
RoseCap Investment Advisors
Product: @RISK
Application: Valuation of Direct Investment

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In Academic:
Swinburne University of Technology
Product: @RISK
Application:Venture Capital Management
In Energy:
Cinergy
Product: @RISK
Application:Acquisitions Analysis
Grupo ISA
Product: @RISK
Application: Investment Analysis
In Government:
Her Majesty's Prison Service
Product: @RISK
Application: Cash Flow Analysis
In Insurance/Reinsurance:
Society of Actuaries /
Casualty Actuary Society
Product: @RISK
Application: Pension and Insurance Planning

SEE ALSO: INDUSTRY MODELS
»Finance/Banking Models
Amway
Product: @RISK
Application:Long-Range Capacity Planning
Antea Group
Product: @RISK
Application:Cost Justification of Water Recycling Systems
Corus Steel
Product: @RISK
Application:Factory Shutdown
Graphic Era University
Product: @RISK
Application: Supply Chain Management
Hitachi Solutions
Product: @RISK Developer Kit (RDK)
Application: Value at Risk (VaR)
JB Scherer Consulting Group LLC
Product: @RISK
Application:Future Net Income Forecasting
Larsen & Toubro Institute of
Project Management
Product: @RISK
Application: Project Management
Mettler Consulting
Product: Evolver, @RISK
Application: Enterprise Resource Planning
Novelis
Product: The DecisionTools Suite
Application: Project Evaluation
Preformed Line Products
Product: @RISK
Application: Tolerance Stacking
SzigmaSzervíz Ltd
Product: @RISK
Application: Project Management
Unilever
Product: DecisionTools Suite
Application:Product launch, capex, and many others

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In Finance:
Procter & Gamble
Product: @RISK, PrecisionTree, DecisionTools Suite
Application: Production Siting, New Product Analysis, Exchange Rate Analysis, Real Options
In Six Sigma:
Cummins Inc.
Product: @RISK
Application: Six Sigma Quality Analysis
Met-Mex Peñoles
Product: Evolver, @RISK
Application: Six Sigma Quality Analysis

Case Studies

We’re proud of our customers’ Enterprise and Project Risk Management case studies and the success they’ve achieved. Active Risk helps to drive business performance by allowing our customers to take more risk. Every day our customers benefit from the visibility and competitive advantage that Active Risk delivers. With Active Risk Manager (ARM), our customers have a singular, central view of all risk information across their organization. High quality, timely data enables risk to be actively managed and leveraged – transforming risk from a challenge to overcome, into an opportunity for competitive advantage.

 

NASA

NASA is a leading force in scientific research and in stimulating public interest in aerospace exploration, as well as science and technology in general. At the heart of NASA is exploration and with exploration comes risk. Safety issues touch every aspect of risk management within every NASA mission.

USAF

US Air Force Materiel Command (AFMC) develops, acquires and sustains the resources the US Air Force needs to remain the leading military force in the world. It is responsible for over 50% of the Air Force’s budget.

Airbus Group

The Airbus Group, a global leader in aerospace, defense and related services, was formed from a number of existing European companies, each with a different approach to risk management. This resulted in numerous risk silos, each with its own ecosystem, language and practices.

Elbit Systems of America

Elbit Systems of America is a leading provider of high performance products, system solutions, and support services focusing on the commercial aviation, defense, homeland security, cyber security, and medical instrumentation markets. With facilities throughout the United States, Elbit Systems of America is dedicated to supporting those who contribute daily to the safety and security of the United States.

Lockheed Martin

Lockheed Martin is a global security, aerospace and information technology company. It is the largest provider of IT services, systems integration and training to the US Government. The Lockheed Martin aeronautics operating unit alone had sales of $14.3 billion in 2011, this included tactical aircraft, airlift and aeronautical research and development lines of business.

Raytheon

With a history of innovation spanning 90 years, Raytheon provides state-of-the-art electronics, mission systems integration and other capabilities in the areas of sensing, effects, command, control, communications and intelligence systems, as well as a broad range of mission support services.

Bruce Power

Bruce Power manages project risk and opportunity across its generating stations using Active Risk Manager

Ameren Transmission

Ameren Transmission Leading US utilities company deploys risk management tool to support risk culture and methodology across the organization

British Nuclear Group

British Nuclear Group is a world leader in the nuclear clean-up business. As part of a drive to standardise procedures, British Nuclear Group reviewed all of its in-house systems and identified the need to have one common way of working across functions, including risk management.

Essent Netwerk

Essent is an energy company that specializes in the generation, transport, trade in and supply of gas and electricity. Essent Network manages the risks of an asset base of more than six million assets with the help of Active Risk Manager.

Horizon Nuclear POWER

Active Risk Manager (ARM) was selected because it provided a simple way for business users to enter their risks into a common system, yet had the additional rich functionality needed by the risk team to meet current and future needs.

Sellafield Ltd

Sellafield Ltd is the company responsible for safely delivering decommissioning, reprocessing and nuclear waste management activities on the Sellafield nuclear site in West Cumbria, England on behalf of the Nuclear Decommissioning Authority (NDA).

OMV

An integrated international oil and gas company that supplies more than 200 million people with energy, OMV is Austria’s largest listed industrial company.

Aker Solutions

Aker Solutions is a global provider of products, systems and services to the oil and gas industry. Its engineering, design and technology bring discoveries into production and maximize recovery. The company employs approximately 16,000 people in around 20 countries.

Anagold

Anagold Madencilik operates the world-class Çöpler Gold Mine in Eastern Turkey, which produced its one millionth ounce of gold in August 2015 and with the completion of the Çöpler Sulfide Expansion Project will have a +20-year mine life. Anagold is majority owned by Alacer Gold Corp, a Canadian corporation with its primary listing on the Toronto Stock Exchange.

Crossrail

Crossrail is Europe’s largest infrastructure project, constructing a new rail line across London with 21km of tunnels underneath the center. The project, which has a budget of £14.5 billion, will increase London’s rail transport capacity by 10% by 2019. Risk Management is seen as critical to its success and is being embedded into the contractor base to push forward best practices in the construction industry.

Downer

Downer is a leading provider of services to customers in markets including Transportation, Utilities, Communications, Mining, Rail and Engineering, Construction and Maintenance. Downer employs over 19,000 people, primarily in Australia and New Zealand.

Network Rail

Network Rail operates, maintains and enhances Britain’s railway system. Prior to the implementation of Active Risk Manager, spreadsheets and a legacy system were used to manage risk across projects on the network. Today there are approximately 20,000 risks held in its Active Risk Manager.

Skanska

Skanska won the award for "Outstanding Contribution to the Risk Industry" for its pro-active risk management on the M25 London orbital road widening project. Read the case study to discover why their project was judged the best in the business and find out how Active Risk Manager underpinned the successful on-budget, on-time delivery of this time-critical project.

TECOM Group

As an industry-specialized developer and operator of Dubai’s leading business communities and work environments, TECOM Group, has been a major catalyst for Dubai’s development into a knowledgeeconomy. The company is a frontrunner in delivering the Government’s innovation strategy, championing the growth of start-ups and small businesses, as well as the Emirate’s service sector. Its 11 business communities provide a home in Dubai for over 5,100 businesses, ranging from major multinationals to local SMEs and start-ups, representing a total workforce of 76,000.

Carr’s Group

An international leader in the provision of essential industrial services focused on agriculture and engineering, Carr’s Group has been listed on the London Stock Exchange since 1972. The group is at the forefront of innovation and technology, providing a range of products and services to agriculture including country retail stores, one-stop shopping for farmers, and animal feed in the UK, USA and Germany.

Roche (Healthcare)

Active Risk Manager (ARM) was selected as the global corporate risk management solution for Roche.

Nestlé (Food/Beverage)

Nestle is the world’s biggest food and beverage company with factories or operations located around the globe. Nestlé evaluated 14 different risk management solutions, looking for a consistent method to manage risk across the multi-national operation.

BT (Telecommunication)

BT Group plc, trading as BT, is a British multinational telecommunications services company with operations in around 170 countries. Through its BT Global Services division it is a supplier of telecoms services to corporate and government customers worldwide, while BT Consumer and BT Business are suppliers of telephony, broadband and subscription television services in GB.

Royal IHC

Royal IHC enables its customers to execute complex projects from sea level to ocean floor in the most challenging of maritime environments. They are a reliable supplier of innovative and efficient equipment, vessels and services for the offshore, dredging and wet mining markets.

Ameren

Ameren Transmission Company of Illinois is a wholly-owned subsidiary of Ameren Corporation dedicated to electric transmission infrastructure investment. It is responsible for expanding Ameren’s already robust transmission system of more than 7,500 circuit miles of high-voltage transmission lines in Illinois and Missouri.

TSB

A well known brand, TSB employs around 8000 Partners and is bringing more competition by providing straightforward banking services with a high level of customer service through a variety of channels.

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