NW3168 - Project Risk Tool

NW3168 - Project Risk Tool
Northumbrian Water Limited (NWL) provide water and sewerage services to just under 4.4 million people operating principally in the North-East of England, Essex, and Suffolk. It is NWL's vision 'to be the most digital water company in the world'. Northumbrian Water Group (NWG) is a large and diverse organisation which employs a varied set of processes to achieve its business outcomes. Our organisation is entering a period of increasing scale and complexity, and our current Excel‑based approach creates challenges with consistency, auditability, quantitative analysis, and real‑time visibility. To address these issues, NWL intends to procure a centralised Risk Management Tool that reflects our business, functional and non‑functional requirements.
Our ambition is to embed a consistent minimum standard for risk and opportunity management across all levels of the organisation, while maintaining flexibility to support differing risk types, project complexities and operational environments. The new solution must allow NWL to manage risk at project, programme, and portfolio level with configurable hierarchies, strong governance controls, audit trails, validation rules, automated workflows, and clear ownership and accountability.
The tool must support qualitative and quantitative analysis, including interaction with Monte‑Carlo simulation to enable QSRA/QCRA, ensuring NWL can reduce reliance on external consultants and improve the agility of in‑house modelling. It must also support configurable scoring, heatmaps, pre‑ and post‑mitigation views, dependencies, assumptions, exclusions, and risk and opportunity management across all levels of hierarchy.
As the solution will be used by a wide and diverse user base, it must provide an intuitive, user‑friendly interface that can be easily navigated and adopted, with accessibility‑aligned design, strong searchability, a training/sandpit area, and clear help and guidance materials. It must also support...