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Risk & Prospect Manager: Key Responsibilities

- Own and maintain the project Risk & Opportunity Register, ensuring financial, commercial, programme and delivery risks are identified, quantified and actively managed.
- Lead regular risk and prospect reviews with project, commercial, planning, design and delivery teams.
- Facilitate structured risk workshops to identify emerging threats and opportunities across the project lifecycle.
- Quantify the cost and programme impact of risks and opportunities, including probability-based assessments where appropriate.
- Work closely with Commercial and Finance teams to ensure risk exposure is reflected within forecast cost, contingency and Estimate at Completion (EAC).
- Work with Planning teams to understand the potential schedule impact of key risks, including threats to critical and near-critical paths.
- Challenge risk owners to develop clear, measurable mitigation actions, with appropriate owners and completion dates.
- Monitor the effectiveness of mitigation actions and escalate risks where exposure is not reducing as expected.
- Identify and develop opportunities for cost reduction, programme acceleration, productivity improvement and increased margin.
- Maintain visibility of risk drawdown and contingency utilisation, ensuring contingency is supported by quantified project exposure.
- Support the development and periodic review of Quantitative Cost Risk Analysis (QCRA) and Quantitative Schedule Risk Analysis (QSRA) where required.
- Provide risk information into monthly project reporting, forecasting, business reviews and governance meetings.
- Produce clear dashboards showing risk exposure, opportunity value, movements, trends, mitigations and forecast impact.
- Identify relationships and dependencies between programme, cost, commercial, design, procurement and delivery risks.
- Review subcontractor and supply-chain risks, particularly those relating to cost escalation,



procurement lead times, productivity, capacity and programme performance.
- Support commercial teams in identifying risks associated with contractual obligations, change, compensation events, claims and commercial exposure.
- Ensure risks associated with proposed changes are assessed before decisions are made, including the cost, time and opportunity implications.
- Challenge project assumptions and forecasts to identify optimism bias, unidentified exposure and potential upside.
- Undertake scenario and sensitivity analysis to understand the potential effect of major risks on project outturn and completion dates.
- Track early-warning indicators for significant risks and ensure appropriate intervention before issues crystallise.
- Ensure realised risks are transferred appropriately into cost forecasts, programme updates and project controls, preventing duplication between risk allowance and forecast costs.
- Drive the identification, valuation and realisation of opportunities, ensuring opportunities have clear owners, actions, timescales and measurable benefits.
- Support senior management in understanding the project's overall risk position and confidence in achieving financial and programme targets.
- Promote a proactive risk culture in which risk management supports better commercial and operational decision-making rather than simply maintaining a risk register.
- Capture lessons learned from realised risks and opportunities and use them to improve future estimating, planning and project delivery.

Relevant Qualifications & Professional Memberships Essential / Preferred

- Degree or equivalent qualification in Quantity Surveying, Commercial Management,



Project Management, Engineering, Construction Management, Finance, Economics or a related discipline.
- Demonstrable experience in risk management, project controls, commercial management, planning or cost management within major projects or complex programmes.
- Strong understanding of cost forecasting, programme management, contingency management and project controls.
- Good working knowledge of quantitative risk techniques, including cost and schedule risk analysis.
- Competence in risk management and analytical tools, potentially including Primavera P6, Microsoft Project, Excel, Power BI and quantitative risk modelling software.

Desirable Professional Qualifications

- APM Project Risk Management Single Subject Certificate or equivalent risk-management qualification.
- IRM Certificate or Diploma in Enterprise Risk Management.
- Membership of the Institute of Risk Management (IRM).
- Membership or chartered status with a relevant professional body such as: RICS: MRICS APM: MAPM / ChPP ICE: CEng / IEng / MICE CIOB: MCIOB CIMA / ACCA / ICAEW, particularly where the role has a strong financial-risk element.
- Formal training or demonstrable competence in Quantitative Cost Risk Analysis (QCRA) and Quantitative Schedule Risk Analysis (QSRA).
- Training in NEC contracts, particularly where the role operates on major infrastructure programmes.
- Experience or accreditation in Primavera P6 and risk-analysis tools such as Safran Risk, Primavera Risk Analysis or equivalent.

Whether you are looking for progression in your new role or for your forever job, we will happily welcome your application. Equal Opportunities Aureos are an equal opportunities employer, and we are determined to ensure that no applicant or employee receives less favourable treatment on the grounds of gender, age, disability, religion, belief, sexual orientation, marital status or race, or is disadvantaged by conditions or requirements which cannot be shown to be justifiable.

📌 Risk Manager (Australia)
🏢 Aureos Capital
📍 Australia