Project Introduction.
developing TfLs risk improvement programme
The Independent Investment Programme Advisory Group (IIPAG) provides independent assurance and expert advice to the Mayor of London for TfL’s Investment Programme. During a recent review, IIPAG outlined a number of deficiencies in TfL risk management practices, impeding the effectiveness of TfL's approach to identifying, analysing, and mitigating potential project risks.
The Problem.
The IIPAG highlighted the need for a more independent challenge in project risk assessment, especially in countering optimism bias. Recommendations included paying more attention to schedule risks, focusing risk management efforts on higher-risk projects, and developing guidance for risk allowances at project, program, and portfolio levels.
Our Solution.
Movar worked collaboratively with the TfL team to meticulously identify areas for improvement that not only addressed actions outlined within the Independent Investment Programme Advisory Group (IIPAG) but also encompassed broader enhancements, ranging from quick wins to long-term goals.
The programme was strategically designed and segmented into four delivery drops, each addressing specific facets of TfL's risk management landscape. These drops ranged from enhancing PMO capabilities to improving customer-focused risk management, streamlining Pan-TfL procedures, and optimising system functionalities.
