Experienced Risk Management Advisors
Our team works closely with numerous project lenders, EPC organizations, owner teams and developers to ensure every aspect of risk is identified, assessed, and mitigated during all project phases. By assembling teams with the skill sets that specifically address our clients’ risk management needs, we consistently deliver results that exceed expectations.
Elite EPC Firms
Development and rollout of fully-integrated risk management frameworks for ENR top 100 EPC firms with operations around the world.
Evaluation of project investment risks for institutional lenders with large domestic and international construction projects.
Schedule Analysis & Forensics
Performance of schedule risk analysis and forensics for ENR top 100 EPC firms facing timing challenges at every level of their projects.
Monte Carlo Modeling
Development of Monte Carlo risk models for complex projects and financial models to support the need for statistical risk evaluation.
Development and facilitation of of numerous corporate and project risk workshops and training programs for global EPC organizations.
Risk Policies & Procedures
Development and auditing of risk management policies and procedures for EPC organizations facing diverse safety and financial risks.
The Nexus Difference
Risk management has numerous applications within an organization but requires a practical approach to develop a manageable framework while adding the greatest amount of value to the organization.
Our team of risk management experts understand the complex nature of risk assessment and are able to ensure that risk workshops and assessment efforts remain focused and achieve their objectives in a timely manner.
By leveraging our technology company, Cloud EPC, we provide software solutions and recommendations that enable clients to have the best possible IT infrastructure available to support their risk management programs.
Risk Management Services
Support in defining risk management program objectives and goals.
Establish corporate risk appetite and tolerances to align with objectives and goals.
Define risk management governance structure, including IT and software needs.
Develop risk reports, dashboards and risk model output packages.
Support program rollout and training initiatives.
Independent Risk Assessment
Generate project risk register and establish detailed risk profile.
Facilitate risk workshops, define risks and triggers, and develop response plans.
Perform quantitative and qualitative risk assessment (probability and impact assessment).
Produce and analyze risk model outputs.
Determine project execution strategies that will help reduce the probability and impact of high-threat risks.
Client Case Studies
Establishing a Risk Management Program
Our client did not have a formal risk management program in place at either the corporate or project level. Consequently, the client’s leaders were struggling to incorporate risk assessment into their company culture, and employees at every level were making key decisions without considering associated risks or preparing risk response plans.
We developed a risk management framework which included comprehensive corporate risk, project execution risk and estimating risk components. We worked with our client to define the organizational risk appetite and strategic objectives and then built a program that aligned with company objectives and was achievable with a well-conceived rollout. We successfully implemented the risk framework at all levels of the organization and provided necessary training to ensure a smooth rollout.
After successfully implementing the program, our client was able to conduct quarterly risk workshops and maintain a risk register, integrate risk management as part of its project execution efforts, formally evaluate execution efforts on a monthly basis, and maintain greater control over estimates by measuring estimate risk independently as opposed to building the risk into the rates resulting in a “compound” contingency effect. Our client now obtains a larger number of project awards and achieves higher project margins.
Independent Risk Assessment
Our client’s project was significantly behind schedule and was suffering cost increases from numerous unprotected and misunderstood events. The client was also uncertain about whether its remaining contingency budget was sufficient to complete the project and the amount of additional funds that would be necessary to finish the project if other risk events occurred.
Our client asked us to collaborate with the project team to develop a complete risk register, assess the to-go risks and determine areas in the execution strategy where those identified risks were exposed. We also conducted qualitative and quantitative risk assessment to determine the likely project budget and contingency required to complete the project with an 85% confidence level.
We calculated the necessary contingency requirements for the remainder of the project. The client was able to secure additional funds ahead of schedule and ensure that each identified risk was covered by an appropriate risk response plan and an assigned owner of the risk. This strategy mitigated numerous risk events well before they became significant in nature and ultimately reduced the cost exposure to the project.
16200 Addison Rd.
Addison, Texas 75001