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Corporate Risk Management

Corporate Risk Management. The Tube Lines Experience. What is Tube Lines?.

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Corporate Risk Management

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  1. Corporate Risk Management The Tube Lines Experience

  2. What is Tube Lines? On 31 December 2002, Tube Lines assumed responsibility for the maintenance and upgrade of all the infrastructure on the Jubilee, Northern and Piccadilly lines as part of the largest improvement programme the Tube has ever seen. Tube Lines has a 30 year Public Private Partnership (PPP) contract with London Underground. The contract is output based, meaning Tube Lines is rewarded for good performance and penalised for poor performance.

  3. Risk Management • During bid process • Forced by regulation • Forced by corporate governance rules • Ad Hoc on projects

  4. Islands of Excellence Safety Risk Health & Safety Operational Response Strategic Risk Project Risk

  5. So What Was the Problem? • Different Approaches • How do you compare risk mitigations arrived at and expressed in completely different ways and come to a spending decision?

  6. Why Does This Matter? • Allocation of restricted funds • Ultimately making a profit = SURVIVAL

  7. So What is the Solution? • To try to look at all risks in the same way. • How? • Use a single overarching process • Use a single tool for the management of all risks

  8. Active Risk Manager • Enterprise-wide risk management software solution which claims to be scalable and is web based • Built from a project management risk tool but now claiming to provide a complete enterprise solution

  9. Status • Starting to Implement the Process • Pilot departments • Training • Awareness • Culture Change

  10. Potential Problems? • Safety Critical Risk Management • Marrying top down to bottom up • IT • Universal buy in

  11. Comparison With The Military • Operational reaction • Stovepipes • Top down meets bottom up • Change in large hierarchical organisations

  12. Questions? Ian Fish Steelhenge Consulting Limited Queen Anne’s Chambers Broadway London SW1H 9JS Email: if@steelhenge.co.uk

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