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Soteria implements Predict! for major PFI contract
September 2008
Soteria, one of the consortia currently bidding for the UK Search & Rescue-Harmonisation (SAR-H) PFI contract, is implementing the Predict! suite of risk management and analysis software. Supplied by Risk Decisions, it will enable compliance with the UK Government’s mandatory risk-based approach to reduce the incidence of delays and budget overrun. The SAR-H contract is a 25 year PFI worth £3-5bn, starting in July 2012. This joint Government Department initiative between the Ministry of Defence and the Department for Transport is intended to replace the military Sea King aircraft which will go out of service in 2017.
After reviewing all available risk management systems, Soteria selected the latest version of the Predict! suite from Risk Decisions, Release 4. According to Roy Logan, Soteria SAR-H Programme Manager: “Predict! will provide detailed insights into business performance and what we are doing to mitigate risks across all areas of the programme. As well as ensuring that risk ownership is managed in real-time across all stakeholders in the consortium, it will enable management to respond rapidly to meet changing demands both now and in the future.”
Soteria is implementing the complete Predict! software suite which includes Predict! Risk Controller and Predict! Analyser release 4.0. It offers a scenario analysis function that allows simulations to be run to evaluate the effect that different risks and events could have on the business and their impact on the delivery and profitability. Risk Decisions will be providing a full training programme and will also be assisting the team with risk analysis advice during the bid process. The total value of the contract is around £30K including ongoing support and maintenance.
“Risk Decisions has a track record of working with organisations throughout the defence industry and knows what is required by both the MOD and main contractors,” continued Roy Logan. “Predict! is an intuitive system that will allow us to demonstrate our understanding of risk exposure and the required level of management reserve. It will give stakeholders greater confidence in our ability to submit a bid at the right price that can be delivered within the given timeframes.”
About Soteria
Soteria is a consortium that comprises CHC, Thales and the Royal Bank of Scotland. CHC is the world's largest provider of helicopter services to the global offshore oil and gas industry with aircraft operating in more than 30 countries around the world. It is the leading helicopter service provider in the North Sea, the world's largest offshore market, and operates 17 bases in the UK, Ireland, Denmark, Norway and the Netherlands. The company is also a world leader in search and rescue (SAR), helicopter training, and repair and overhaul.
CHC currently provides search and rescue operations from four bases in the UK for the Maritime and Coastguard Agency after being awarded a contract worth over £100 million in December 2005. This five-year contract started in July 2007 and is supported by the latest Sikorsky S-92 and the AgustaWestland AW139 aircraft which offer increased operating range and speed enabling a faster response to be provided. For further information please visit www.soteriasar.com
About Risk Decisions
Risk Decisions Limited is part of Risk Decisions Group, a pioneering global risk management solutions company, with offices in the UK, USA and Australia. The company specialises in the development and delivery of enterprise solutions and services that enable risk to be managed more effectively on large capital projects as well as helping users to meet strategic business objectives and achieve compliance with corporate governance obligations
Risk Decisions has introduced many innovative features that have since become standard features in the industry including the risk hierarchy tree, combined threat and opportunity risk impact grids and automated schedule risk analysis. The company also plays a significant role in influencing risk management policy and has made important contributions to APM, OGC and PMI risk management guides and standards. Risk Decisions has also made major contributions to interfacing risk with other disciplines, including Earned Value and Systems Engineering.
Clients include Balfour Beatty, Mott MacDonald, National Grid, HSBC Rail, BAE Systems, Selex, Raytheon, AgustaWestland, UK MoD, Australian Defence Materiel Organisation and the New Zealand Air Force.
