London’s sewerage system is no longer fit for purpose and spills millions of tonnes of sewage into the tidal section of the river every year. Tideway will build the tunnel to tackle the overflows from the London’s Victorian sewers into the River Thames for at least the next 100 years, enabling the UK to meet European environmental standards.
Risk Management and analysis services are being provided to BMB JV, which is a joint venture compromising: BAM Nuttall, Morgan Sindall and Balfour Beatty. The BMB JV will deliver the construction in the west region from Acton to Fulham, under the Tideway West contract.
We were commissioned by BMB JV as their risk advisors, during the bidding process for all sections (East, Central and West) of the project. We provided specialist advice and support during the bidding process, developing the JV risk management processes and procedures; undertaking quantitative risk analysis, both cost and schedule, on various delivery options, enabling the JV to define their risk exposure and contingency budget estimates for inclusion within each of their bids.
Following BMB JV securing the contract to design and construct the west section of the Thames Tideway project; we were commissioned to provide a full-time risk manager to support the senior management team and section managers with a comprehensive risk management and analysis service covering 9 construction sites, marine logistics, commercial and design, each with their own risk register. The day-to-day risk management services for the JV; which include: Risk Reduction Meetings, Monthly reporting both internal (BMBJV) and external – client (Tideway), ARM Administration, Quantitative Cost Risk Assessments (QCRAs), Quantitative Schedule Risk Assessments (QSRAs), and Pricing of PMIs. We are working closely with both the JV and client’s delivery teams to ensure that opportunities are maximised and the risk exposure is minimised, in relation to time and cost.