Project Introduction.
a simple and intuitive tool to estimate risk
The TfL Risk Management Estimator App (RMEA) project was initiated to create a simple, intuitive tool for Transport for London (TfL) to estimate risk contingency budgets and forecast accurately for various projects. The goal was to improve risk budgeting and forecasting in TfL projects, providing early insight into risk contingency budgets in the project lifecycle.
The Problem.
TfL faced challenges in accurately estimating and budgeting for risks in project management. Existing methods were not sufficiently accurate or timely, leading to inefficiencies in risk budgeting and forecasting.
Our Solution.
Our approach included:
- PowerApps Solution Development: Creating a novel PowerApps tool for real-time risk estimation and profile manipulation.
- User-Friendly Interface Design: Developing an interface to configure project-specific parameters for risk budget estimation by project phases or fiscal periods.
- Integration with TfL Systems: Ensuring the RMEA integrates seamlessly with TfL’s existing project management systems, aligning with the ‘Pathway’ project methodology.
