A consortium bidding to win a 12-year tender to support the modernisation of the UK Royal Navy’s individual maritime training.
Timescales and locations:
Portsmouth / Remote
How we helped:
As risk lead, Redstone Risk consultants were a key part of the bid team. We were responsible for 2 major bid deliverables:
1. Quantitative Joint Risk Register
2. Risk Management Strategy document
We were embedded in the client risk team (part-time) for a period of 6 months. During the engagement, we worked collaboratively with senior stakeholders from all partner organisations, and successfully negotiated with the Royal Navy on behalf of the bid team, to develop a fully costed risk register.
Our consultants facilitated numerous strategic risk reviews with senior leaders and subject matter experts to help the team understand and respond to their unique environment of risk and uncertainty. The creation of a risk strategy document not only gave the client a high-scoring, mandatory bid deliverable but also helped the executive to plan for the management of threats and opportunities in collaboration with the Royal Navy for the next 12 years.
We were regularly involved in customer Dialogue sessions, in-person and remotely, to provide advice and guidance to both our client and the Royal navy representatives (up to commodore rank) as well as their review partners, Deloitte. We were frequently engaged to plan and negotiate risk ownership and risk-share between numerous stakeholders.
As experts in risk analysis, we were also tasked to carry out a cost risk analysis to price and profile risk contingency into the final bid. This ensured that a realistic value will be retained under a TCIF arrangement with the Royal Navy to respond to the risks of the future.
The penultimate months of the engagement were undertaken remotely due to COVID 19. However, our flexibility and remote working capabilities ensured that there was no disruption to the achievement of our core deliverables and we even managed to provide a bespoke risk and opportunity management plan to enable the client to hit the ground running if they are selected as the preferred bidder.
What we delivered:
- Undertook an independent review of the extant risk database and undertook a thorough process of data improvement in collaboration with the client risk manager.
- We facilitated risk workshops to establish a robust and defendable quantitative risk register, which we owned and updated throughout the engagement.
- Delivered a cost risk analysis to support internal finance approvals and the agreement of a robust risk contingency.
We delivered on time and to the highest possible standard based on our extensive experience leading risk activities on major bids.