The Olympic Delivery Authority (ODA) was tasked with completing the venues 12 months ahead of the London 2012 Olympic and Paralympic Games, and within its £7.2 billion budget. The risks to these targets were great, with a heavily contaminated site, worsening economic conditions, multiple stakeholders and the eyes of the world’s press ever present. Key to the success of the ODA’s approach was a strong risk management process, including a clear risk hierarchy (allowing the right people to manage the right risks), a robust quantified risk analysis controlling contingency allocation and a healthy balance of review, assurance and audit promoting an ‘honest’ culture of risk awareness.
17 Oct 2011
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