{"id":4436,"date":"2025-10-23T15:56:15","date_gmt":"2025-10-23T04:56:15","guid":{"rendered":"https:\/\/tbh.toniconline.com.au\/sg\/?post_type=cpt-project&#038;p=4436"},"modified":"2025-11-07T11:53:18","modified_gmt":"2025-11-07T00:53:18","slug":"melbourne-water","status":"publish","type":"cpt-project","link":"https:\/\/tbhconsultancy.com\/sg\/experience\/melbourne-water\/","title":{"rendered":"Melbourne Water"},"content":{"rendered":"<h3 class=\"JobSheetLevel1\">Project Overview<\/h3>\n<p>Melbourne Water engaged TBH to strengthen its capital delivery assurance processes through the development of a robust cost benchmarking and Risk Management framework. The engagement aimed to improve cost forecasting accuracy, establish transparent risk-based contingency methodologies, and provide greater confidence in project investment decisions.<\/p>\n<p>The program encompassed all major infrastructure projects within Melbourne Water\u2019s capital portfolio, including treatment plant upgrades, pipelines, and network reliability initiatives. Prior to TBH\u2019s engagement, cost data and risk assessments were performed inconsistently across projects, limiting Melbourne Water\u2019s ability to benchmark cost performance and quantify uncertainty across its investment program.<\/p>\n<p>&nbsp;<\/p>\n<h3 class=\"JobSheetLevel1\">TBH\u2019s Role<\/h3>\n<p class=\"JobSheetText\">TBH was appointed to provide<strong> specialist cost management and risk advisory services<\/strong>, developing an integrated cost benchmarking and risk management and, including Quantitative Risk Analysis approach, tailored to Melbourne Water\u2019s delivery environment.<br \/>\nKey elements of TBH\u2019s scope included:<\/p>\n<ul>\n<li><strong>Cost Benchmarking Framework Development<\/strong>\n<ul style=\"list-style-type: disc;\">\n<li>Collected, normalised, and structured cost data from completed and in-progress projects to establish a reliable benchmarking dataset.<\/li>\n<li>Developed cost accuracy productivity metrics, enabling comparative analysis across project types, scale, and delivery models<\/li>\n<li>Developed benchmarks for each project type for indirect, risk allowances and owner\u2019s costs.<\/li>\n<li>Designed dashboards and analytical tools to visualise benchmark ranges and identify cost outliers.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<ul>\n<li><strong>Risk Management Framework<\/strong>\n<ul style=\"list-style-type: disc;\">\n<li>Conducted a maturity assessment of current risk processes and tools<\/li>\n<li>Developed a tailored risk management framework and tools for project and portfolio risk management including management of a portfolio risk pool<\/li>\n<li>Provided training for standardising risk management and the new framework for the project management team<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<ul>\n<li><strong>Quantitative Risk Analysis (QRA)<\/strong>\n<ul style=\"list-style-type: disc;\">\n<li>Conducted integrated cost and schedule risk analyses (QCRA and QSRA) using @Risk and Primavera Risk Analysis.<\/li>\n<li>Facilitated structured risk identification and quantification workshops with project managers, planners, and cost estimators.<\/li>\n<li>Modelled contingency levels at P50 and P90 confidence intervals, aligning with Melbourne Water\u2019s governance and approval thresholds.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<ul>\n<li><strong>Integration and Assurance<\/strong>\n<ul style=\"list-style-type: disc;\">\n<li>Linked risk-adjusted cost forecasts with Melbourne Water\u2019s investment evaluation and business case processes.<\/li>\n<li>Delivered training and guidance materials to uplift internal capability in probabilistic risk assessment and benchmarking interpretation.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<h3>The TBH Difference<\/h3>\n<p>TBH\u2019s methodology provided Melbourne Water with a transparent, evidence-based foundation for cost and risk decision-making across its capital portfolio.<\/p>\n<ul>\n<li><strong>Data-Driven Cost Confidence<\/strong> \u2013 The benchmarking framework established consistent cost metrics across delivery models, improving early cost estimate accuracy and investment confidence.<\/li>\n<li><strong>Risk-Adjusted Forecasting<\/strong> \u2013 The QRA approach allowed Melbourne Water to determine appropriate contingencies aligned to corporate risk appetite, improving budget reliability and funding certainty.<\/li>\n<li><strong>Enhanced Governance<\/strong> \u2013 TBH\u2019s reporting outputs and dashboards enabled senior management and the board to track project risk exposure and benchmark performance at portfolio level.<\/li>\n<li><strong>Capability Uplift<\/strong> \u2013 TBH delivered targeted training to internal teams, embedding a repeatable and sustainable cost and risk analysis process.<\/li>\n<li><strong>Transferable Insights<\/strong> \u2013 The benchmark data and methodologies developed through this engagement now inform Melbourne Water\u2019s future project planning and procurement strategies.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Project Overview Melbourne Water engaged TBH to strengthen its capital delivery assurance processes through the development of a robust cost benchmarking and Risk Management framework. The engagement aimed to improve cost forecasting accuracy, establish transparent risk-based contingency methodologies, and provide greater confidence in project investment decisions. The program encompassed all major infrastructure projects within Melbourne &#8230;<\/p>\n","protected":false},"featured_media":4446,"template":"","class_list":["post-4436","cpt-project","type-cpt-project","status-publish","has-post-thumbnail","hentry","service_category-risk-management","service_category-cost-management","industry_category-water","region_category-australia","group_category-tbh"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.1 (Yoast SEO v27.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Melbourne Water | TBH Asia<\/title>\n<meta name=\"description\" content=\"TBH partnered with Melbourne Water to strengthen cost benchmarking and risk management, improving cost forecasting accuracy, contingency setting, and confidence in capital investment decisions.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tbhconsultancy.com\/sg\/experience\/melbourne-water\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Melbourne Water\" \/>\n<meta property=\"og:description\" content=\"TBH partnered with Melbourne Water to strengthen cost benchmarking and risk management, improving cost forecasting accuracy, contingency setting, and confidence in capital investment decisions.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/tbhconsultancy.com\/sg\/experience\/melbourne-water\/\" \/>\n<meta property=\"og:site_name\" content=\"TBH Asia\" \/>\n<meta property=\"article:modified_time\" content=\"2025-11-07T00:53:18+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/tbhconsultancy.com\/sg\/wp-content\/uploads\/sites\/2\/2025\/10\/iStock-501612869-scaled.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2560\" \/>\n\t<meta property=\"og:image:height\" content=\"1707\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/tbhconsultancy.com\\\/sg\\\/experience\\\/melbourne-water\\\/\",\"url\":\"https:\\\/\\\/tbhconsultancy.com\\\/sg\\\/experience\\\/melbourne-water\\\/\",\"name\":\"Melbourne Water | TBH Asia\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/tbhconsultancy.com\\\/sg\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/tbhconsultancy.com\\\/sg\\\/experience\\\/melbourne-water\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/tbhconsultancy.com\\\/sg\\\/experience\\\/melbourne-water\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/tbhconsultancy.com\\\/sg\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2025\\\/10\\\/iStock-501612869-scaled.jpg\",\"datePublished\":\"2025-10-23T04:56:15+00:00\",\"dateModified\":\"2025-11-07T00:53:18+00:00\",\"description\":\"TBH partnered with Melbourne Water to strengthen cost benchmarking and risk management, improving cost forecasting accuracy, contingency setting, and confidence in capital investment decisions.\",\"inLanguage\":\"en-SG\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/tbhconsultancy.com\\\/sg\\\/experience\\\/melbourne-water\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-SG\",\"@id\":\"https:\\\/\\\/tbhconsultancy.com\\\/sg\\\/experience\\\/melbourne-water\\\/#primaryimage\",\"url\":\"https:\\\/\\\/tbhconsultancy.com\\\/sg\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2025\\\/10\\\/iStock-501612869-scaled.jpg\",\"contentUrl\":\"https:\\\/\\\/tbhconsultancy.com\\\/sg\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2025\\\/10\\\/iStock-501612869-scaled.jpg\",\"width\":2560,\"height\":1707,\"caption\":\"Underground tunnel connecting the pipes from the old plant to the new plant for transport gas and electrical line.\"},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/tbhconsultancy.com\\\/sg\\\/#website\",\"url\":\"https:\\\/\\\/tbhconsultancy.com\\\/sg\\\/\",\"name\":\"TBH Singapore\",\"description\":\"Independent project advisory. 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