The Project Risk Manager is responsible for establishing, implementing, and maintaining effective risk management processes across complex programmes and projects. The role ensures that strategic, commercial, technical, operational, schedule, cost, safety, environmental, and stakeholder risks are identified, assessed, managed, monitored, and reported throughout the project lifecycle.
The Project Risk Manager will work closely with project leadership, delivery teams, planners, commercial managers, technical specialists, and executive stakeholders to support informed decision-making, protect project objectives, and improve the certainty of successful project delivery.
Key Responsibilities
Risk Management Leadership
- Develop and implement project and programme risk management frameworks, strategies, plans, procedures, and governance arrangements.
- Establish and maintain project risk registers and associated risk reporting systems.
- Ensure risk management activities align with organisational standards, project controls requirements, and industry best practices.
- Promote a proactive risk-aware culture across project teams and supply chain partners.
- Provide expert advice to project directors and senior management regarding key project threats and opportunities.
Risk Identification and Assessment
- Facilitate structured risk workshops, threat assessments, opportunity reviews, scenario planning sessions, and lessons learned exercises.
- Lead risk identification activities across all project phases including planning, design, procurement, construction, testing, commissioning, and operations readiness.
- Evaluate strategic, schedule, cost, technical, commercial, stakeholder, safety, environmental, regulatory, interface, and delivery risks.
- Ensure risks are consistently assessed using qualitative and quantitative methodologies.
- Support the identification and management of emerging risks and changing project conditions.
Quantitative Risk Analysis
- Undertake and manage quantitative schedule risk analysis (QSRA) and quantitative cost risk analysis (QCRA).
- Support contingency assessment and management reserve recommendations.
- Conduct Monte Carlo simulations and sensitivity analyses to evaluate project uncertainty.
- Provide risk-adjusted forecasts and support confidence level assessments for programme delivery.
- Interpret statistical outputs and communicate findings to both technical and executive audiences.
Project Controls Integration
- Integrate risk management activities with project controls, planning, scheduling, cost management, change control, and reporting processes.
- Ensure risk exposure is reflected within project forecasts and performance reporting.
- Support development and maintenance of risk-adjusted schedules and budgets.
- Collaborate closely with planning and commercial teams to assess impacts of identified risks.
Risk Monitoring and Reporting
- Track risk mitigation actions and monitor effectiveness of risk response strategies.
- Produce regular risk dashboards, reports, heat maps, trend analyses, and executive summaries.
- Escalate critical issues requiring leadership intervention.
- Monitor changing risk exposure throughout the project lifecycle.
- Support project reviews, gateway reviews, assurance activities, and audits.
Stakeholder Management
- Facilitate communication of risks and opportunities with project teams, contractors, consultants, and senior stakeholders.
- Build strong working relationships across multidisciplinary delivery teams.
- Present risk information at governance boards, leadership reviews, and steering committees.
- Support stakeholders in understanding risk exposure and decision-making requirements.
Governance and Assurance
- Ensure compliance with corporate governance requirements and established risk management frameworks.
- Support internal and external audits, assurance reviews, and independent risk assessments.
- Maintain accurate project documentation and audit trails.
- Contribute to continuous improvement of risk processes, tools, and methodologies.
Opportunity Management
- Identify and assess opportunities that improve project outcomes, efficiency, cost performance, and programme delivery.
- Support development of opportunity action plans and benefit realisation strategies.
- Promote balanced consideration of both threats and opportunities within project decision making.
Required Qualifications
- Bachelor's degree in Engineering, Construction Management, Quantity Surveying, Project Management, Risk Management, Business Management, in a related discipline (or suitably experienced).
- Professional certification in project or risk management such as:
- PMI Risk Management Professional (PMI-RMP)
- Project Management Professional (PMP)
- Association for Project Management (APM)
- IRM International Certificate in Enterprise Risk Management
- MoR (Management of Risk)
- PRINCE2 Practitioner
Required Experience
- Typically 5+ years' experience in project controls, programme management, risk management, or major project delivery environments.
- Demonstrated experience on large-scale infrastructure, transportation, rail, energy, aviation, water, utilities, construction, or capital investment programmes.
- Experience facilitating multi-disciplinary risk workshops and stakeholder engagement sessions.
- Proven experience preparing and managing project risk registers and mitigation plans.
- Experience conducting quantitative risk analysis and developing risk-adjusted forecasts.
- Strong understanding of programme governance and project controls disciplines.
- Experience supporting executive-level reporting and decision making.
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