Especially with megaprojects, risk management is an elastic and evolving concept. The late Dr. Kris R. Nielsen was a pioneer in changing how the construction industry looked at risk and received ASCE’s highest award – the Outstanding Project and Leaders (OPAL) Award for his contributions to risk management. This award recognized decades of work in assessing cost and performance through sophisticated computer modeling that drove to the essence of whether risk was justified and was being appropriately managed in terms of eventual cost. This concept of risk management expanded to include top-down risk assessments that spanned a project lifetime and were capable of changing with the progress of a project.
Pegasus-Global has carried on Dr. Nielsen’s work. We help our clients improve their risk intelligence by enhancing their ability to think about outcomes, recognize patterns early, and take appropriate actions early to improve resilience. We also assist clients in establishing corporate enterprise risk management programs, evaluating risk programs and processes already in place, and/or performing detailed risk assessments of projects to identify key areas of risk providing the client with the knowledge to effectively manage risks.