AACE Seattle Section Meeting - February 10th, 2011
"Project Management with Risk Management and Virtual Design and Construction"
One of the emerging developments in our industry is to integrate risk management with Virtual Design and Construction (VDC) - taking it from 4D to 5D (3D+time+risk). This presentation will discuss PB's approach to risk management and the benefits of integration of these two important facets of infrastructure project management. Regardless of whether a program or project is in the planning, design, or execution phase tackling risks early on is both more time-effective and cost-effective than responding to problems. During the planning stage, technical, operational and management challenges are easily underestimated. From inception, projects often carry more risk than anticipated resulting in missing target completion dates and experiencing cost increases. As a project unfolds, new risks arise, and they become problems if not identified and acted on immediately. Project risks may stem from decision making, technical challenges, failure to address operational considerations, new regulatory constraints, resource allocation, misalignment of deliverables between teams, and many other factors. Often, by the time a project is under way, managers are forced into a reactive stance, responding to each threat as it emerges. This reactive stance results in perpetual firefighting with little chance of regaining control. To be effective, project managers must identify, evaluate, communicate, and prioritize risks on the basis of likelihood and severity of effect on the project. A risk-based approach relies on teams understanding their missions and a relentless focus on preventing problems thereby increasing the confidence in an on time in budget delivery. VDC is an innovative approach to digitally or "virtually" build a project in the computer before constructing and operating it in the real world. Three and four dimensional (3D + time) computer models are built to represent the infrastructure and its individual components in a coordinated and consolidated virtual project model. Integrating risk management and VDC provide a powerful toolbox to support successful delivery of infrastructure projects. Joe will be talking about the fundamentals and benefits of risk-based project management providing examples from major transportation, transit and wastewater projects. He will include examples of state-of-the-art risk management and VDC tools that Parsons Brinckerhoff uses to support cost and schedule risk analysis and project risk management.
Joe O'Carroll is a Vice President, Senior Professional Associate, and Project Risk Manager with Parsons Brinckerhoff Inc. Joe currently manages Parsons Brinckerhoff's Special Service Group which includes Risk Analysis and Management and VDC. Joe has 30 years experience in design, construction, project management and risk management for transportation, transit, metro, water, and waste water and airport projects. Highlights include design-build and construction management experience on the Channel Tunnel Project, UK; The Deep Tunnel Sewer System and North East Line Mass Rapid Transit in Singapore; Central Subway in San Francisco; London Underground's Jubilee Line and Hong Kong's Chep Lap Kok Airport. Most recent highlights in Joe's career include risk assessments and developing Risk Management Programs for Sound Transit's ST2 Light Rail Program in Seattle; Utah Transit Authority's 2015 Transit Program; Toronto Transit City LRT; the Port of Miami Tunnel, in Florida; California High Speed Train Project; MTACC East Side Access Project in New York and large diameter Combined Sewer Overflow storage tunnels in Boston, Portland and Detroit. All this experience has culminated in Joe also providing Eskom, Southern Africa's primary power provider, with a state-of-theart risk management system being used for the design, construction and delivery of a new 4.8 Megawatt Power Station.
Rock Salt Steaks & Seafood
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