Risk Decisions selected for Fehmarnbelt link project
by Gill Montia
Risk Decisions has reported that its Enterprise Risk Management software, Predict!, is to be used by the company building an 11 mile fixed link between Denmark and Germany.
Construction of the Fehmarnbelt link, which will stretch between Rødbyhavn in Denmark and Puttgarden in Germany, is expected to begin in 2014, with completion scheduled for 2020.
Femern A/S, a Danish government-owned enterprise, will be using Predict! to assess the impact of the different risks on the construction cost of the link, and thereby estimate the risk reserve required for the project.
According to Risk Decisions, Predict! was selected for its functionality, easy implementation and intuitive use, Femern A/S having previously used a traditional Microsoft Excel sheet for risk management.
The group’s chief executive officer, Val Jonas, comments: “Today, a number of construction companies are awakening to the benefits of a joined-up enterprise-wide risk management approach – it will save them money that could run into thousands or even millions of pounds.”