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TMC won a Bronze BAE Systems Chairman's Award for Innovation for incorporating the use of its Cause -Effect analysis techniques to enhance the reporting of risk for Senior Management. The approach improves both the understanding and the control of Project and Business risk, improving project schedule performance and reducing costs.
Supplementing the bottom-up analysis with top-down Cause - Effect analysis leads to customers having increased confidence in performance, schedule and cost adherence, with the associated advantages for funding and insurance. It is suitable for medium to large projects and business units.
The approach was developed because the standard reporting systems (variations on the 'top-ten' risks and based on a bottom-up risk register) have been shown to be insufficient for effective understanding and control at a senior level, where the top-down view may differ from the sum of the bottom-up. It is based on robust systems engineering methodologies applied in a management system.
A case study on this project and the application of the methodology used is the subject of a paper to be presented at the 6th Annual Risk Conference, sponsored by Project Manager Today in London on 28 November 2003. Download Paper (pdf)