Dublin Metro West – Rail – Faithful & Gould
Metro West is a proposed orbital light railway serving the western communities of Dublin approximately 25 kilometres in length. It was first identified as part of the Dublin Transportation Office’s (DTO) transport and planning strategy of 2001, ‘A Platform for Change’. The subsequent announcement of Transport 21 in November 2005 identified Metro West as a PPP project to be delivered, in phases, between Tallaght and the Dublin Airport area by 2014.
Client: Faithful & Gould
Contract Duration: 1 Year
Contract Value: £100,000
Project Duration: 9 Years
Project Value: >€6 billion
Optimise were asked to support Faithful & Gould with their Risk & Value management service. The scope of Risk and Value Management services included establishing Risk and Value Management plans for the overall scheme and providing the ongoing support for managing Risk and Value through the lifecycle of the project.
The Risk Management function also provided input to a Value for Money exercise by working closely with the financial advisors KPMG. Through a comparative exercise considering the risk exposure under the PPP strategy against delivery by the public sector the business case was supported.
The framework that was established provided the ability for project personnel to actively engage and pro-actively manage uncertainty and through periodic cost and schedule analysis ensured that the risk exposure and confidence in delivery timescales were appreciated and appropriate decisions made.
Although this project didn’t ultimately get delivered because of the financial crisis, it has recently been relaunched and will do so with an effective risk framework already in place.