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HATCH
ECRI Presentation June 2012
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HATCH ECRI PRESENTATION – JUNE 2012
Contents
• An overview of HATCH – Principles, Global Operations, Industry
Sectors, BU’s, Clients, Projects and Awards
• Overview of Risk Management in HATCH – Why it is important,
Capital-Risk Relationship, Policy, System, PLP and FEL and Risk
Reviews, QRA and Value and Decision Analysis.
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ABOUT HATCH
Founded in the mid 50’s by Dr Gerald Hatch who was also the first President, Hatch has
built a reputation for delivering strong and differentiated engineering and project skills
in the global engineering and construction market.
• Employee-owned
• Serving mining & metals, energy and infrastructure for more than 80
years
• Projects in more than 150 countries
• More than 11,000 professionals worldwide
• More than US$35 billion of projects under management
• EPCM, integrated teams, project and construction management
• Consulting – process, technologies and business
• In-plant engineering services for operations
OUR BAND OF PRINCIPLES
Four key commitments we make to our clients and ourselves, when combined
make Hatch unique in our industry – we call this our Band of Principles.
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SAFETY QUALITY SUSTAINABILITY INNOVATION
Currently stands at 0.07 lost
time injuries (LTI’S) for every
200,000 manhours of project
work completed.
Our team working on
Barrick’s Pueblo Viejo
pressure leach gold plant in
the Dominican Republic
surpasses 2 million man-
hours without an LTI in 2011.
Our commitment to quality
was recognised by our
clients and our industry at
award ceremonies around
the world throughout 2011.
Examples include Project of
the Year and Project
Management excellence
awards for major coal port
developments at Abbott
Point and Newcastle
Projects are now often
located near sensitive
environments and can have
significant social impact on
communities.
Our current EIA for SMM
Solomon Ltd to develop a
Solomon Islands nickel mine
requires particular attention
to conservation areas, local
communities and the cultural
heritage of the region.
We look to our clients and
their needs to drive our own
innovation processes.
Hatch in partnership with
Suncor Energy, Enerbridge
and Nenniger Inc are
developing a pilot plant to
demonstrate BEST –
bitumen extraction solvent
technology. It will produce
85% less greenhouse gases
than SAGD processes.
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THE HATCH ADVANTAGE
By working closely with our clients throughout the project development lifecycle
we are acutely aware of the key success factors and the need to execute well as a
team.
work safely
work in teams
fight for lower costs and better quality
plan carefully for fast startups
design and build for smooth, reliable
performance
We
GLOBAL OPERATIONS
Hatch has grown steadily to increase our global operations in alignment with our
client’s needs and global growth.
11,000 staff – May 2012 CANADA
St. John’s, Newfoundland & Labrador
Sorel-Tracy, Québec
Sudbury, Ontario
Toronto, Ontario
Vancouver, British Columbia
Winnipeg, Manitoba
New York, New York
Pensacola, Florida
Phoenix, Arizona
Pittsburgh, Pennsylvania
Sacramento, California
San Diego, California
San Francisco, California
Seattle, Washington
Tampa, Florida Antofagasta, Chile
Belo Horizonte, Brazil
Lima, Peru
Rio de Janeiro, Brazil
Santiago, Chile
São Luís, Brazil
São Paulo, Brazil
Newcastle
Perth
Townsville
Wollongong
Adelaide
Brisbane
Gladstone
Mackay
Melbourne
AUSTRALIA
MIDDLE EAST
SOUTH
AMERICA SOUTH AFRICA
Amherst, New York
Baltimore, Maryland
Boston, Massachusetts
Buffalo, New York
Cleveland, Ohio
Denver, Colorado
Houston, Texas
Millburn, New Jersey
Calgary, Alberta
Halifax, Nova Scotia
Mississauga, Canada
Montréal, Québec
Niagara Falls, Ontario
Oakville, Ontario
Saskatoon, Saskatchewan
CHINA
NEW CALEDONIA
Johannesburg
Pretoria
Cape Town
London, England
Moscow, Russia
St. Petersburg, Russia
EUROPE
INDIA New Delhi
Beijing
Shenyang
Shanghai
USA
Abu Dhabi, UAE
Al Khobar, Saudi Arabia
Sohar, Oman
Nouméa
INDONESIA Jakarta
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OUR PROFESSIONAL SERVICES
Through initial consulting to management assignments to assist client senior management
teams, Hatch now provides a full suite of services covering Project Delivery, Consulting
and Operational Services.
Project Delivery Engineering
Project management
Procurement
Construction management
Consulting Management consulting
Technologies
Environmental
Systems & Process Control
Operational Services In-plant engineering services for operations
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HATCH SERVICES AND SECTORS
Hatch Capital Projects and Execution, Consulting and Operational Services are provided to
our clients in the Metals, Infrastructure and Energy industry sectors.
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THERMAL
COAL
WATER
INFRASTRUCTURE SERVICES
PORTS AND MARINE TERMINALS
RAIL & TRANSPORTATION SYSTEMS
OUR BUSINESS UNITS
Our Business Units are structured to provide global services to the key markets within each
of the metals, energy and infrastructure industry sectors.
NUCLEAR
NON-FERROUS
LIGHT METALS
MINING & MINERAL PROCESSING
INDUSTRIAL MINERALS
IRON & STEEL RENEWABLE POWER
TRANSMISSION & DISTRIBUTION
OIL & GAS
en
erg
y
infra
stru
ctu
re
meta
ls
IRON ORE
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MAJOR CLIENT PROJECTS
Hatch is currently managing over US$35b worth of projects around the world for our clients.
We foster long standing relationships and Anglo recently selected Hatch to deliver EPCM
services for over 20 of their major projects over the next 7 years – totaling about US$17b in
capital expenditure.
Client Project Location
Estimated
Capital Cost
(US millions)
Chevron/Exxon/Shell Gorgon LNG Facility Australia 43,000
Transnet Port and Rail Infrastructure South Africa 12,000
Anglo American Anglo Coal Program Australia 12,000
Santa Clara Valley Bay Area Rapid Transit Program USA 9,100
Baffinland Iron Mines Corporation Mary River Iron Ore Project Canada 4,000
Bruce Power Bruce A Nuclear Units 1&2 Restart Canada 4,000
Xstrata Koniambo Ferronickel Project New Caledonia 3,800
Alcoa/BHP Billiton/ Rio Tinto Alcan Alumar Refinery Brazil 3,000
Qinghai Salt Lake Industry QSLIC Industrial Complex China 3,000
Peter Kiewit Sons Co and Flatiron
Constructors Port Mann/Highway 1 Project Canada 2,460
Vale Onça Puma Nickel Brazil 2,300
Codelco Mina Ministro Hales Project Chile 2,000
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MAJOR CLIENT PROJECTS (CONTINUED)
Hatch is also delivering capital coal port project programmes for NCIG, Rio Tinto
and Dalrymple Bay with capital expenditure of about US$10B.
Client Project Location
Estimated
Capital Cost
(US millions)
Ontario Power Generation Niagara Tunnel Canada 1,600
Greater Toronto Airports Authority Pearson Terminal Redevelopment Canada 1,500
Babcock & Brown Infrastructure Dalrymple Bay Coal Terminal Australia 1,300
Wuskwatim Power Partnership Wuskwatim Generation Station Canada 1,300
Newcastle Coal Infrastructure Group NCIG Coal Export Terminal Australia 1,100
Rio Tinto (QMM) Madagascar Minerals Madagascar 940
Xstrata Nickel Rim South Canada 900
Rio Tinto Alcan Jonquière Smelter Canada 900
Bruce Power Bruce A Units 3 & 4 Restart Canada 650
Barrick Gold Pueblo Viejo Autoclave Dominican Republic 650
Codelco Chuquicamata Mine Project Chile 83
METALS CLIENTS
Our key clients are leading companies in their industry and market sectors with needs to
develop some of the most challenging and complex projects to deliver shareholder value.
ENERGY CLIENTS
Our key clients are leading companies in their industry and market sectors with needs to
develop some of the most challenging and complex projects to deliver shareholder value.
INFRASTRUCTURE CLIENTS
Our key clients are leading companies in their industry and market sectors with needs to
develop some of the most challenging and complex projects to deliver shareholder value.
OUR RECENT MAJOR AWARDS
For us, rewards acknowledge and symbolise our daily focus on working alongside clients
to deliver positive outcomes for their company and all of their stakeholders.
Canada’s 50 Best Managed Companies—National
Post, Deloitte, CIBC Commercial Banking, and
Queen’s School of Business Recognition for sustaining a standard of excellence and
leadership in all areas of business practices,
2007-2012
Project of the Year Award—2011 Consult Australia
Awards for Excellence Abbot Point Coal Terminal X50 Expansion (APCT X50)*
Australia, 2011
Gold Award for Excellence in Project Management —
2011 Consult Australia Awards for Excellence Newcastle Coal Export Terminal (NCIG) – Stage 1,* Australia,
2011
WateReuse International Award—WateReuse
Association Luggage Point Advanced Water Treatment Plant* Australia,
2011
Bulk Handling Facility of the Year Award—Australian
Bulk Handling Review Newcastle Coal Infrastructure Group (NCIG) Project*, 2010
* Joint venture projects
Award of Excellence —Canadian Consulting Engineer
and Association of Consulting Engineering
Companies—Canada GO Transit Rail Infrastructure Improvement Program*, Ontario,
Canada, 2011
50 Best Employers in Canada of 2012—Aon Hewitt Recognition for the best companies to work for — as rated by
their employees, Canada, 2011
National Award—South African Institute of Civil
Engineering (SAICE) Transnet Ngqura Container Terminal Project*, 2010
Grand Award—American Council of Engineering
Companies Sea-to-Sky Highway Improvement Project, Canada, 2010
Products and Manufacturing Facilities Excellence
Award—Engineers Australia Dalrymple Bay Coal Terminal 7X Project*, Australia, 2009
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PROJECT RISK MANAGEMENT – WHY IS IT IMPORTANT AT HATCH?
Risk management at Hatch is important as we are an employee owned company. Our reputation
and financial success is dependent on our ability to win and execute successful projects whilst
managing risks within client agreed risk profiles
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Projects create change and are a major source of uncertainty, threat and opportunity for a
company to achieve its objectives – the Board wants to know about project risks and
needs to report on them to their stakeholders
“With the possible exception of strategy development, the topic most discussed at the
board level today is risk. Boards want to know where risk exists, and what is being done
about it.”
The 1st and last sentences of BHPBilliton’s Risk Management Policy are a guide.
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PROJECT RISK MANAGEMENT – TO PROVIDE CONFIDENCE THAT VALUE WILL NOT BE DESTROYED
Capital investment success is acutely sensitive to the execution risk profile – most
investments, especially resource projects have a finite life to return profits to shareholders.
Significant value can be destroyed during project execution if the risk profile is not well
established and managed..
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The Capital – Risk Relationship
FEL1
0
FEL2
FEL3
FEL4 - Implementation
NP
V
0
Cash
Flows
Major risks to cash flows are
technology and project design,
construction & schedule risks, ramp
up & country risks
Major risks to cash flows
are technology, market
forecasts, operations and
country risks
Shareholders want to see
the project reach this point
in the shortest possible
timeframe
NPV + v
e
- ve
Cash
Flo
ws
Time
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PROJECT RISK MANAGEMENT – SUPPORTS THE CLIENT’S GOVERNANCE PROCESS
Corporate Governance is defined “ The system by which organisations are directed and controlled to exercise accountability to shareholders and responsibility to stakeholders” Our risk management process applied across the project lifecycle is integral to our client’s governance processes.
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How Much?
How much do we spend on capital
expenditure?
Financial Structuring
Where?
On what projects do we spend our capital
Capital Allocation
How ?
How do we spend our capital?
Capital Spending
Why?
Our communications about our capital
spending
Reporting
Corporate
Level
Client
Concept Definition
Implementation
Strategy Budgeting
Performance Specification
Implementation & Post
Implementation
Project Level
Hatch
Cost/ Benefit Analysis
Due Diligence – risk profile &
treatments confirmed Approval - Risk profile accepted
Monitoring – risk profile and risk treatments
How Much?
How much do we spend on capital
expenditure?
Where?
On what projects do we spend our capital
Capital Allocation
How ?
How do we spend our capital?
Capital Spending
Why?
Our communications about our capital
spending
Reporting
Corporate
Level
Client
Concept Definition
Implementation
Strategy Budgeting
Performance Specification
Implementation & Post
Implementation
Project Level
Hatch
Risk Based Decisions
& Cost/ Benefit Analysis
Due Diligence – risk profile & treatments confirmed Approval - Risk
profile accepted
Monitoring – risk profile and risk treatments
How Much?
How much do we spend on capital
expenditure?
How Much?
How much do we spend on capital
expenditure?
Financial Structuring
Where?
On what projects do we spend our capital
Capital Allocation
Where?
On what projects do we spend our capital
Capital Allocation
How ?
How do we spend our capital?
Capital Spending
How ?
How do we spend our capital?
Capital Spending
Why?
Our communications about our capital
spending
Reporting
Why?
Our communications about our capital
spending
Reporting
Corporate
Level
Client
Concept Definition
Implementation
Strategy Budgeting
Performance Specification
Implementation & Post
Implementation
Project Level
Hatch
–
- –
FEL1, 2 and 3 FEL4
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HATCH RISK MANAGEMENT POLICY
Our policy outlines the “way we do things” in Hatch and provides guidance if in doubt.
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Hatch
Project Risk Triangle
Hatch Business Risk
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HATCH RISK MANAGEMENT SYSTEM
Our risk management system applies the principles and process outlined in ISO 31000.
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HATCH RISK MANAGEMENT LIFECYCLE
Risk management is tailored and “embedded” in our systems throughout the project life
cycle.
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PLP PHASES
Project Proposal
Project Approved
FEL PHASE EXECUTION
PLP EXECUTION
FEL PHASE RISK
· Project Risk Management Plan
· Gate Reviews and Risk Reviews
· Project Monthly Reports (PMR’s)
Projects with unacceptable risk profiles from
PMR’s or failure to achieve a compliant Gate
Review are identified for management support
Hatch Business Risk Review
Project Set-up Risk Review
· Project Team selected
· Project Set-up assistance
· Initial Project Risk Reviews
· Bid / No Bid Assessment
· Business Risk Reviews
· Global and Regional Risk Committee
Reviews and sign-off
LESSONS
LEARNED
Hatch
Global Project Risk
Reports
Risk Review
Committee
Global
Managing
Directors
Client
Project
ManagerRisk Manager
Supported by Regional
Risk Managers and Global
Risk ManagerArea Managers
Project
Sponsor
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HATCH PROJECT LIFECYCLE PROCESS – CAPITAL EFFECTIVENESS AND FEL
In line with industry best practice Hatch has developed a “Gated” project lifecycle
process to achieve capital effectiveness through FEL. It facilitates risk based decision
making and development of tolerable risk profiles for project execution.
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Capital Effectiveness Diagram
Client Engagement and Communication
Execution
Execution
FEL 1, 2, & 3
Develop Scope ofWork to Meet
Business Objective
Project ExecutionPlanning
Owner/HatchAlignment
OptimalScope of
BusinessNeeds
FEL-4 Implementation
UtilizeChange
MgmtProcess
Outcomes
Excellent Operability
Faster ProjectCycle Times
Better ROI
Enhanced Safety
Capital Effectiveness
Improved QualityEmploy Value-Added Tools
Timely Involvement of Vendors and Contractors
TechnologyStrategy/Selection
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HATCH PROJECT LIFECYCLE PROCESS – RISK MANAGEMENT PROCESSES AT EACH FEL PHASE
At each stage the project risk, estimate and schedule are considered jointly to assess
risk profiles. Project targets and contingency levels for cost and time are developed,
reviewed and agreed.
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FEL1 STUDY
Risk:
- Fatal flaws identified
- Key risks identified
- Are controls practical
- Are risk treatments
practical
Estimate - High level, factored
- benchmarked
Schedule: - High level only
FEL 2 STUDY
Risk:
- Risk register & profiles for options
- Technical risk – hazard studies
- QRA for options
- Risk based decision to select best option
- Risk Treatment Plans for selected option
- QRA to assess contingency / accuracy
practical
Estimate - Option estimates
- Detail, factored and database
- Contingency/accuracy from QRA
Schedule: - Semi detailed for options
FEL 3 STUDY
Risk:
- Detail project risk register & profile
- Technical risk - HAZOP’s etc
- Detailed Risk Treatment Plans
- QRA to assess contingency / accuracy
- Risk Plan for Execution
Estimate - Detail Estimate
- Contingency/accuracy from QRA
Schedule: - Detailed schedule
- QRA to assess profile and time
contingency
FEL 4 EXECUTION
Risk:
- Project Risk Mgt Plan
- Technical risk – final HAZOP’s
- Detailed Risk Treatment Plans
- QRA reviews to assess profiles
- Execution risk assessments/change mgt
Estimate - Reviews and updates
- change mgt
- Reporting
Schedule: - Reviews and updates
- change mgt
- Reporting
Plans developed for next phase for review at the Gate, communication, consultation, monitoring and review throughout
KEY INTEGRATED RISK, COST and SCHEDULE ACTIVITIES
FEL - 1 FEL - 2 FEL - 3
Front End Loading Phases
ProjectExecution
PlanningStudy
FeasibilityStudy
Conceptual/Pre-Feasibility
Study
Gate
1P
roje
ct O
ptio
ns
Gate
2V
iab
le (Y
es/N
o)
Gate
3P
roje
ct E
xec P
lan
FEL-4
Pro
ject
Imple
menta
tion
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HATCH INTEGRATED SCHEDULE-COST RISK PROFILE
Integrated schedule – cost risk analysis produces the schedule and cost risk profiles for
the project. These are updated on a regular basis and are an essential element for risk
based decision making.
Integrated
Schedule
Cost
Risk
Model
CAPEX RISK DRIVERS
Project Mgt
Telecoms
Escalation
Schedule Risk
Protection
Signalling
Alliance1 Civil Works
Project Risk Events
Alliance 2 Civil Works1
Track Upgrades
Schedule Risk Analysis - Minimum and Plausible Low Scenarios
- Most Likely
- Maximum and Plausible High Scenarios
- Probability of achieving the Deterministic duration
Cost Risk Analysis - Minimum and Plausible Low Scenarios
- Most Likely
- Maximum and Plausible High Scenarios
- Probability of achieving the estimate
Schedule and Cost Risk Events
(Prob x Consequence)
EPCM Owned CLIENT Owned
Organisational Risk Analysis
Is this a missing piece in the jigsaw for large
and complex projects to capture management
performance risk?
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HATCH PROJECT LIFECYCLE PROCESS RISK AND GOVERNANCE – GATE REVIEWS
The Hatch Gate Reviews near the completion of each FEL phase provides both Hatch and
the Client with an assessment of the quality of the deliverables and the risk with proceeding
to the next phase
Review
Outcome
Criteria
All Key Deliverables meet or exceed the required project phase
deliverables quality standard
No further action is required before proceeding with the next Project
Phase
Not all Key Deliverables meet the required project phase deliverables
quality standard
A detailed review of plans for the next Project Phase with the Owner is
needed to verify their suitability before proceeding
Insufficient Deliverables meet the required project phase deliverables
quality standard
Further work is needed to satisfy minimum requirements to support a
client decision to proceed to the next Project Phase
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HATCH PROJECT MONTHLY REPORTS (PMR’s) – ESSENTIAL RISK AND GOVERNANCE PROCESS
Global and Regional Hub PMR’s summarise the project risk profile and triggers
management control actions.
PMR
Outcome
Criteria
Compliant
PM believes he can manage to
success
PM needs external assistance
PMR’S are applicable to all FEL
phases
Hub and Global management
reviews are conducted based on
the importance of the project and
the fee level
The CEO chairs the monthly
global meeting
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RISK MANAGEMENT, VALUE AND DECISION ANALYSIS DURING THE PROJECT LIFECYCLE
Value management and risk management are “2 cousins” and must be considered
together to make sound value decisions. Change through value analysis is a source of
project risk and must be linked to objectives.
• Risk Mgt and Value Engineering during the FEL 2
and FEL 3:
– Right time (first 1/3 of Eng Phase)
– Right group dynamics – especially for Alliances with Industry
sponsorship and backing
– Proven processes
– Integration will optimise the risk profile
NPV optimised
VE Opportunities
GAP PROJECT CAPEX RISK PROFILES COMPARED
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GAP PROJECT CAPEX RISK PROFILES COMPARED
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GAP PROJECT CAPEX RISK PROFILES COMPARED
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CAPEX RISK DRIVERS
GAP Project Mgt
Telecoms
Escalation
Schedule Risk
Protection
Signalling
CoalStream Civil Works
Project Risk Events
CoalConnect Civil Works1
Track Upgrades
CAPEX RISK DRIVERS
GAP Project Mgt
Telecoms
Escalation
Schedule Risk
Protection
Signalling
CoalStream Civil Works
Project Risk Events
CoalConnect Civil Works1
Track Upgrades
Schedule Model
CAPEX RISK DRIVERS
GAP Project Mgt
Telecoms
Escalation
Schedule Risk
Protection
Signalling
CoalStream Civil Works
Project Risk Events
CoalConnect Civil Works1
Track Upgrades
Capital Model Tariff Model
Value Map – Key drivers established
GAP PROJECT CAPEX RISK PROFILES COMPARED
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GAP PROJECT CAPEX RISK PROFILES COMPARED
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GAP PROJECT CAPEX RISK PROFILES COMPARED
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May-09 Jul-09 Nov-09
CAPEX RISK DRIVERS
GAP Project Mgt
Telecoms
Escalation
Schedule Risk
Protection
Signalling
CoalStream Civil Works
Project Risk Events
CoalConnect Civil Works1
Track Upgrades
CAPEX RISK DRIVERS
GAP Project Mgt
Telecoms
Escalation
Schedule Risk
Protection
Signalling
CoalStream Civil Works
Project Risk Events
CoalConnect Civil Works1
Track Upgrades
Schedule Model
CAPEX RISK DRIVERS
GAP Project Mgt
Telecoms
Escalation
Schedule Risk
Protection
Signalling
CoalStream Civil Works
Project Risk Events
CoalConnect Civil Works1
Track Upgrades
Capital Model Tariff Model
Value Map – Key drivers established
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HATCH RISK MANAGEMENT SUMMARY
Our risk management system is basically structured to ensure we can positively deliver on
the cardinal risk management questions.
In summary risk management on our projects must answer the Cardinal Risk Management Questions throughout the FEL phases from the perspective of both the Client and Hatch to ensure we both succeed: What are the major risks on this project?
How big are they?
What are they ‘sensitive to’ and how can we change them?
What level of risk can the business and stakeholders tolerate?
Therefore, what should we do – and when?
If we can answer these questions in the positive we can be certain we are delivering on our risk management process and risk policy
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For more information, please
visit www.hatch.ca