The Art of Risk Management

Amsterdam is midway through the construction project of the north-south metro line (photo © ANP). The 8-year project began in 2002 and is costing €1.7billion, double the figure projected in 1996! But there are hugh problems realizing it. Where the risks underestimated? The contracts not well designed? Council and alderman amateurs? The managers, planners and civil engineers inadequate or not in control ? Or was it the attitude of central government?

Former Minister Veerman will lead the commission which will investigate the course of this project, with one mission: to audit the quality of risk management. Finally! Recognition of risk management as a true profession and a crucial factor for proper project management and good public governance. Is risk management perhaps an art in reaching goals and targets within budget and on time?