Government embraces higher risk to speed infrastructure
The Government has adopted a new approach to risk management, allowing greater tolerance for risks to fast-track vital public infrastructure projects. This policy shift aims to enhance delivery efficiency across sectors such as transport by embracing innovation and pragmatic risk-taking.
Source:
TII & Luas Infrastructure News
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⏱️ 1 min read
The Government has announced a significant policy change by adopting a new Risk Appetite Statement designed to accelerate the delivery of critical infrastructure projects. This framework clearly defines the extent and nature of risks the Government is willing to accept to ensure faster completion and better outcomes for Irish citizens.
Minister Jack Chambers, addressing an infrastructure conference, explained that the Government is now prepared to take well-managed, increased risks including financial, delivery, and environmental aspects. The approach supports innovation and a pragmatic stance on litigation, encouraging early investment in design, procurement, land acquisition, and even forward purchasing of materials before full approvals are secured.
Departments and regulators in key sectors, particularly transport, have been tasked with aligning their sectoral risk appetite statements to this new policy. Furthermore, every project designated under the Critical Infrastructure Act 2026 will be required to establish a project-level risk appetite statement shortly after designation, ensuring consistent and transparent risk management across all critical initiatives.
Minister Jack Chambers, addressing an infrastructure conference, explained that the Government is now prepared to take well-managed, increased risks including financial, delivery, and environmental aspects. The approach supports innovation and a pragmatic stance on litigation, encouraging early investment in design, procurement, land acquisition, and even forward purchasing of materials before full approvals are secured.
Departments and regulators in key sectors, particularly transport, have been tasked with aligning their sectoral risk appetite statements to this new policy. Furthermore, every project designated under the Critical Infrastructure Act 2026 will be required to establish a project-level risk appetite statement shortly after designation, ensuring consistent and transparent risk management across all critical initiatives.
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