Transport projects—risk management
Produced in partnership with Matthew Hanslip Ward of Dentons UKMEA LLP

The following Public Law practice note produced in partnership with Matthew Hanslip Ward of Dentons UKMEA LLP provides comprehensive and up to date legal information covering:

  • Transport projects—risk management
  • Risk register
  • Contract variations and change
  • Performance regimes and monitoring
  • Performance and the payment mechanism
  • Other remedies
  • Poor performance
  • Performance monitoring
  • Sub-contractor default
  • Termination
  • More...

Transport projects—risk management

Risk management for a transport project is the process of identifying, scrutinizing and taking steps to counter and mitigate risk factors that may arise throughout the life of the project. It focuses on risks that may materialise in each of the project's planning, implementation and operational phases. Risk management seeks to control or influence events (usually detrimental but occasionally beneficial) that may occur in the future and impact the project. It requires a proactive rather than a reactive approach.

This Practice Note seeks to highlight some of the key areas of focus for managing identified risks which must be addressed in the matrix of project contract documents (such as changes to contract terms, default by a sub-contractor or the contractor itself). It considers some suggested risk management approaches and contractual tools that may be used to address the impact of certain risks. It is very high level in nature and is not a comprehensive review of project risks or their management.

Risk register

It is important that those promoting the project identify and plan appropriately for all possible eventualities at the earliest opportunity during the development of the project and continue to do so throughout its life.

It is common for those responsible for risk management to brainstorm and gather risk information through risk workshops attended by relevant stakeholders. The objective of a risk workshop is

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