Risk Management: Transforming Threat into Opportunity

Nick Harney
Following his appearance at the Big 5 Conference in Dubai, Faithful+Gould's risk manager John Cowling was interviewed by MENA Infrastructure about how Faithful+Gould's project management approach reduces both the likelihood and impact of risks.

John Cowling is no stranger to risk management. With a career spanning over 20 years and broad cross-sector experience, he was invited to speak at the Big 5 Conference in Dubai on the topic Risk Management: transforming threats into opportunities.

An interview with MENA Infrastructure (the Middle East construction magazine) provides John with a further opportunity to share his expertise in risk management.

Outlining the Faithful+Gould approach, John explains how risk management is embedded in our project management process.

MENA Infrastructure: What kind of approach do you take to risk management?
John Cowling: Risk management is embedded as a key component of our project management process. Implementing a risk management framework enhances existing business processes and decision-making process. We often talk about the concept that risk management enables you to operate with ‘eyes wide open'.

Working with eyes wide open means having a clearer understanding of the issues, which in turn results in more informed decisions being made. It's very important to get these processes embedded throughout the organisation, as the benefits have the potential to extend beyond current projects - integrating lessons learnt into the client's processes and adding further value to their organisation..........

Faithful+Gould's John Cowling on Risk Management: full interview

MENA Infrastructure: And as the risks come down, projects become more attractive.

JC: Our aim with project risk management is to assist our clients to identify and manage the likelihood and the impact of threats. When we reduce the likelihood or the impact - preferably both - we're effectively making the project more attractive to our client, their investors and their customers.

We encourage our clients to engage in our processes - to identify, analyse, evaluate and control or mitigate their risks. Our risk management philosophy is really about helping our clients to plan for success.

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