Strategic Risk Management
Summary
From an early stage of the project, managing risk and uncertainty was identified as being critical to the successful delivery of the Crossrail project. The project’s senior management were strongly supportive and actively engaged in implementing the risk management process, which facilitated the creation of a dedicated risk management sub committee within the overall governance structure. This paper describes Crossrail’s approach to strategic risk management, and will be of interest to any organisation defining how risk management fits within a governance structure, as well as to major infrastructure programmes which are required to deal with a multitude of external factors, reputational risks and other strategic risks.