With a rise in the number of large complex projects worldwide, valuable experiences and lessons from these projects can be applied to better tackle project risk. Risk management is a shared responsibility for the public and private sectors. It must be embedded as a focus from early-stage planning to delivery and operations to prevent these risks from materializing and impacting projects. Policymakers have a role to play in putting in place robust frameworks for risk management.
Canada is currently seeing unprecedented investments in transit across the country. Transit projects have a higher risk profile due to their size, the areas they impact, and the fact they often run through more heavily populated areas. A more robust approach to risk is needed to ensure these projects deliver on time, budget, and promise.
The UK has recent experience delivering the largest transit project in Europe through Crossrail and is starting the development of HS2. This event will bring together representatives from industry and government from the two countries to discuss how to identify and put in place tangible steps, including policy action, to address and mitigate project risk at all stages – from planning to procurement, contracting, delivery, and handover.
This discussion will encourage attendees to share their own experiences, lessons and ways to embed best practice in managing risk when working on major transit projects.