Risk Management Plan for Queen’s Wharf Brisbane Project

Risk Management in Engineering 1
RISK MANAGEMENT IN ENGINEERING
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Risk Management in Engineering 2
EXECUTIVE SUMMARY
This report presents a risk management plan prepared by Destination Brisbane Consortium for
the implementation of $3 billion Queen’s Wharf Brisbane project. The plan was prepared in
accordance with the guidelines and principles of AS/NZS ISO 31000:2009.
The first section of the report is introduction, which defines the details of the project, including
project location, components, budget, duration, objectives, expected impacts and benefits, scope
of the project and the standards used to prepare the report. The second section discusses the plans
put in place to facilitate communication and consultation between stakeholders to ensure
effective implementation of the plan. The third section entails establishing the context of the risk
management plan. This includes internal context, external context and the context of risk
management process. It also discusses the risk criteria used and various stakeholders and their
roles/responsibilities.
The fourth section of the report identifies, analyzes and evaluates risks. The risks were identified
using checklists, direct observations and brainstorming methods. A total of 15 risks were
identified then analyzed using FMEA method. Qualitative risk assessment matrix was then used
to analyze risks based on their likelihood and consequences. Evaluation of risks was done using
ALARP principle, from which six risks were selected for further treatment. The risks selected
are: water contamination, asbestos, airborne toxins and fibres, unintended collapse, working at
height, and manual and material handling.
Various probable treatment options were identified and the group came up with a strategy that
will be used to select the most appropriate treatment option. These options will reduce the risk
level of all risks identified to acceptable level.
Lastly, a risk monitoring and review plan is established. This will help in ensuring that all risks
are monitored and that the treatment options implemented are efficient and effective. The risk
manager will close any risk as long as it satisfies the criteria that has been pre-determined.

Risk Management in Engineering 3
Table of Contents
EXECUTIVE SUMMARY.......................................................................................................................2
1. INTRODUCTION.............................................................................................................................5
1.1. Project Details and Objectives.....................................................................................................5
1.2. Scope...........................................................................................................................................6
1.3. Risk Management Process...........................................................................................................6
2. COMMUNICATION AND CONSULTATION..............................................................................7
2.1. Objectives....................................................................................................................................8
2.2. Stakeholder Analysis...................................................................................................................8
3. ESTABLISHING THE CONTEXT...............................................................................................10
3.1. Internal Context.........................................................................................................................10
3.2. External Context........................................................................................................................11
3.3. Risk Management Context.........................................................................................................11
3.4. Risk Criteria...............................................................................................................................12
3.5. Stakeholders..............................................................................................................................12
3.5.1. Stakeholder Identification..................................................................................................12
3.5.2. Stakeholder Roles and Responsibilities.............................................................................13
4. RISK ASSESSMENT......................................................................................................................14
4.1. Risk Identification.....................................................................................................................14
4.1.1. Risk identification method.................................................................................................14
4.1.2. Risk scope..........................................................................................................................15
4.1.3. Risk register.......................................................................................................................15
4.2. Risk Analysis.............................................................................................................................15
4.2.1. Risk analysis method.........................................................................................................15
4.2.2. Risk controls......................................................................................................................16
4.2.3. Risk acceptance criteria.....................................................................................................16
4.3. Risk Evaluation..........................................................................................................................17
4.3.1. Risk evaluation method......................................................................................................17
4.3.2. Risks that should be treated...............................................................................................17
5. RISK TREATMENT.......................................................................................................................18
5.1. Possible risk treatment options/methods....................................................................................18
5.2. Preparing and implementing risk treatment plans......................................................................18
6. RISK MONITORING AND REVIEW..........................................................................................19

Risk Management in Engineering 4
6.1. Risk monitoring and review process..........................................................................................19
6.2. Risk closure...............................................................................................................................19
References................................................................................................................................................20
APPENDICES.........................................................................................................................................24

Risk Management in Engineering 5
1. INTRODUCTION
Risk management is very essential for any type or size of construction project [1]; [2]. For
this reason, risks must be identified, analyzed and evaluated so as to establish the most
appropriate techniques of preventing or managing these risks [3]. This is the only way that the
objectives of a construction project can be achieved [4]. The engineering project investigated in
this report is Queen’s Wharf Brisbane that is being delivered by Destination Brisbane
Consortium. The Consortium is preparing this risk management plan so as to prevent and
manage potential risks in this project. The risk management plan is prepared in accordance with
AS/NZS ISO 31000:2009.
1.1. Project Details and Objectives
Queen’s Wharf Brisbane is a mega construction project that is expected to transform the
central business district of Brisbane (and Queensland as a whole) forever and make it a world-
class destination for investors, tourists, artists, etc. The project entails construction of three
residential towers, five new 5-star hotels, a departmental store, 50 restaurants, bars and cafes,
riverfront moonlight cinema, pedestrian bridge, sky deck, and Queensland Hotel & Hospitality
School, among others [5]. There will also be public space equivalent to 12 football fields.
Currently, Queen’s Wharf Brisbane comprises of several underutilized heritage buildings,
neglected riverfront land and obsolete government buildings. Another objective of this project is
to connect Brisbane River, Botanic Gardens, Queen’s Street Mall and South Bank [6].
The project is being delivered by Destination Brisbane Consortium (a joint venture), which
comprises of Star Entertainment Group, Chow Tai Fook Enterprises and Far East Consortium
[7]. Once completed, the project is estimated to create over 8,000 jobs and attract about 1.39
million visitors to Brisbane annually. The project is estimated to cost $3 billion and it is expected

Risk Management in Engineering 6
to be completed in 2022. Figure 1 below shows the masterplan proposed Queen’s Wharf
Brisbane resort development. During peak construction, there will be 2,000 jobs for local
residents [8]. This project has numerous benefits to the local community and society, including
creation of employment and business opportunities.
Figure 1: Proposed Queen’s Wharf Brisbane Resort Development masterplan [9]
1.2. Scope
Considering various constraints of this report, the risk management plan prepared by
Destination Brisbane Consortium only focuses on construction risks with particular attention on
occupational and public health and safety.
1.3. Risk Management Process
This risk management plan is prepared by following the standard procedure provided in the
AS/NZS ISO 31000-2009 (Principles and Guidelines) together with IEC/ISO 310010:2009 (Risk
Assessment Techniques). The process entails various sections as shown in Figure 2 below. The
plan aims at identifying, analyzing, evaluating and treating/managing various construction risks