RiskConsult

What RiskConsult does

RiskConsult GmbH is a privately held Austrian consulting and software-development firm, founded in 2007 and headquartered in Innsbruck with a German branch in Ottobrunn (near Munich), specializing in probabilistic cost and risk management for large-scale infrastructure megaprojects. The company serves government infrastructure owners, railway operators, energy transmission system operators, and other public-sector project sponsors — predominantly in the DACH region (Germany, Austria, Switzerland), with selected international references in the USA and Peru. Its flagship methodology, CEVP-RIAAT, was co-developed with John Reilly, and is operationalized through a proprietary software suite led by RIAAT (a Monte Carlo simulation engine for probabilistic cost and schedule risk analysis), complemented by PRAT / PRAT Project (Excel VBA-based tools for smaller projects), TKET (tender and contract evaluation for IPA/Alliance setups), Kalk DB (calculation database), PEP (project evaluation and planning), and a Monte Carlo Demo Tool.

The firm's commercial offering combines expert consulting — Integrated Project Delivery (IPA) / Allianz contract advisory, RAMS analyses, construction price verification, contractor calculation, and training — with its proprietary software tools used internally on engagements and made available independently via de.riaatsoftware.com. Notable engagements span the Brenner Base Tunnel (~€9B), Wiener Linien U2/U5 (~€1B), U5 Hamburg (~€1.75B), the Lima Airport expansion (~USD 1.5B), and five concurrent Amprion HVDC transmission programs. Revenue is generated entirely through project-based, quote-priced consulting mandates; no subscription or transaction-based pricing is disclosed. The company is led by Managing Directors Markus Spiegl and Philip Sander, with Sander also serving as a university professor and director of the Institute for Project Management and Construction Economics at the University of the Bundeswehr Munich, anchoring an academic-commercial pipeline.

Name

RiskConsult

Legal name

RiskConsult GmbH

Website

https://riskcon.at

Company type

Private

Founded year

2007

Operating status

Operating

Headcount range

11–50 employees

Short description

RiskConsult GmbH provides probabilistic cost and risk management consulting and proprietary software (RIAAT, PRAT, TKET) for large infrastructure megaprojects, serving government agencies, railway operators, and energy TSOs primarily in the DACH region.

Ownership category

akta.pro rank

Product category

Infrastructure Risk Management Consulting

NAICS

Engineering Services (541330), Engineering Services (54133), Computer Systems Design and Related Services (5415)

SIC

Services-Engineering Services (8711), Services-Prepackaged Software (7372)

akta.pro primary industry

Reliability, Safety & Risk Engineering (RAMS/PSM) Consulting (BPAHAIAK)

akta.pro secondary industry

T&D project/program management & owner’s engineering (EPCM/PMC) (EUADAKAF)

Keywords

• Infrastructure risk management
• Probabilistic cost analysis
• Monte carlo simulation
• Integrated project delivery consulting
• Megaproject risk engineering

Headquarters

HQ city

Innsbruck

HQ country

Austria

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales

Revenue model

1. Consulting Services: Professional consulting services for large infrastructure projects including cost and risk management, Integrated Project Delivery (IPA/Allianz), RAMS analyses, construction price verification, and contractor calculations. Revenue generated through fee-based consulting engagements with project owners and government agencies.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels4 records

Core offering

RiskConsult GmbH delivers specialized consulting services for cost and risk management on large-scale infrastructure megaprojects (rail, tunnels, highways, airports, energy transmission), bundled with a proprietary software suite (RIAAT, PRAT, PRAT Project, TKET, Kalk DB, Monte Carlo Demo Tool, PEP). The offering combines probabilistic Monte Carlo-based risk modelling, integrated project delivery (IPA/Allianz) advisory, RAMS analyses, and construction price verification for government infrastructure owners and transmission system operators.

Product overview

RiskConsult GmbH is a consulting and software development company specializing in cost and risk management for large infrastructure projects. Its product portfolio consists of a suite of proprietary standalone desktop software tools — RIAAT (core probabilistic risk analysis engine), PRAT / PRAT Project (Excel VBA-based project risk analysis tools for categories A and B projects), TKET (tender and contract evaluation tool for IPA/PPF workflows), Kalk DB (calculation database), Monte Carlo Demo Tool (simulation demonstrator), and PEP (project evaluation and planning) — all complemented by expert consulting services in Integrated Project Delivery (IPA), progressive partnership contract frameworks (PPF), cost and risk management, RAMS analyses, construction price verification, and training. The software tools are used internally by RiskConsult's consultants and offered as standalone products to clients supporting Monte-Carlo simulations for realistic risk cost calculation and transparent cost estimations.

Differentiator

Problem solved

Functional benefit

Brands

• RIAAT: Risk Analysis Tool for probabilistic cost and schedule risk analysis in infrastructure projects.
• PRAT
• PRAT Project
• TKET
• Kalk DB
• PEP
• Monte Carlo Demo Tool

Products and services

• RIAAT (Risk Analysis Tool) Standalone desktop application for probabilistic risk analysis and risk-based cost management in large infrastructure projects. Supports Monte-Carlo simulations for realistic risk cost calculation, integral analysis of costs, schedules, and risks, and the creation of a digital project risk twin for probabilistic forecasting. Targeted at infrastructure project teams and government agencies.
• PRAT (Project Risk Analysis Tool) Risk analysis tool developed as part of the BMVI research project, covering the full spectrum of tools for small and standard-sized infrastructure projects (categories A and B). Designed for project teams seeking structured probabilistic risk management on smaller scope infrastructure engagements.
• PRAT Project Excel VBA-based tool composed of multiple modules supporting risk-based cost estimation for small and standard-sized projects (categories A and B), developed within the BMVI research project. For infrastructure teams needing lightweight, spreadsheet-based risk and cost analysis.
• TKET (Tender and Contract Evaluation Tool) Software tool supporting the Progressive Partnership Contract Framework (PPF) process for setting up projects under partnership-based project delivery (IPA, Alliance, etc.), providing a guided process for method selection and preparation. For project owners structuring collaborative contracts.
• Kalk DB (Calculation Database) Database tool supporting cost calculation and price verification for construction projects, enabling transparent cost calculations. For construction cost engineers and project owners performing construction price verification.
• Monte Carlo Demo Tool Demonstration tool showcasing Monte-Carlo simulation capabilities for realistic risk cost calculation, helping organisations understand probabilistic cost forecasting methods. For prospective clients and project teams exploring probabilistic risk analysis.
• PEP (Project Evaluation and Planning Tool) Project evaluation and planning tool for risk and cost management in infrastructure projects. Supports project teams in planning, evaluating and managing risk and cost across infrastructure project lifecycles.
• Consulting Services (IPA, Cost and Risk Management, RAMS, Construction Price Verification, Training) Professional consulting services covering Integrated Project Delivery (IPA) and Progressive Partnership Contract Framework (PPF) advisory, cost and risk management, RAMS analyses (Reliability, Availability, Maintainability, Safety), construction price verification, contractor calculation, and training programmes. Delivered by senior RiskConsult experts directly to project owners and government agencies on large-scale infrastructure megaprojects.

Quantifiable outcome

• RIAAT process enables probabilistic cost forecasting with P-value (Value at Risk) analysis, showing probability distributions for budget overrun/underrun scenarios (e.g., P80 indicating 80% probability of not exceeding a cost threshold).
• +1 more outcomes

Named customers16 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability1 record

Feature6 records

Partnerships

18 partnerships are on record, tiered core, major and minor.

• John Reilly (John Reilly Associates)coreStrategic or Co-development PartnerRiskConsult co-developed the CEVP-RIAAT process with John Reilly, a methodology for integrated project delivery and probabilistic risk analysis. This partnership forms the methodological foundation of RiskConsult's approach to IPA.
• University of Bundeswehr Munich - Institute for Project Management and Construction EconomicscoreStrategic or Co-development PartnerRiskConsult co-founder Philip Sander serves as Professor (Univ.-Prof.) at the institute, creating a research partnership bridging academic research and consulting practice. A joint position combining 50% consulting work at RiskConsult and 50% research at the institute (with scholarship) is offered for PhD candidates.
• BBT SE (Brenner Base Tunnel)coreStrategic or Co-development PartnerRiskConsult provides professional support for the risk analysis update for the Brenner Base Tunnel, the world's longest underground railway connection (64 km). RiskConsult conducts and moderates workshops, with BBT SE modeling risks using RIAAT software.
• Hamburger Hochbahn AGcoreStrategic or Co-development PartnerRiskConsult has been managing risk for the U5 Ost since 2020 and additionally U5 Mitte since 2022, applying the RIAAT process to create digital twins for cost, schedule, and risk for the Hamburg U-Bahn expansion.
• Amprion GmbHcoreStrategic or Co-development PartnerMultiple ongoing IPA projects including A-Nord, Korridor B, Rheinquerung, Rhein-Main-Link, and Elbquerung. RiskConsult supports Amprion with calculation models, documents, and IPA execution including incentive systems using RIAAT for probabilistic analysis.
• DB Netz AG / Deutsche Bahn AGcoreStrategic or Co-development PartnerRiskConsult supports multiple DB rail projects: 2nd Stammstrecke Munich, Fehmarnbelt rail connection (PM-Schiene), Gäubahn Nordabschnitt, and S4 Hamburg. Services include calculation models, tender support, target cost determination, incentive systems, and risk management using RIAAT.
• DEGES (Deutsche Einheit Fernstraßenplanungs- und -bau GmbH)majorStrategic or Co-development PartnerRiskConsult conducts workshops to identify and analyze relevant risks and performs probabilistic schedule impact analysis using a construction time model for the A1 8-lane expansion including Norderelbbrücke replacement.
• Lima Airport PartnersmajorStrategic or Co-development PartnerRiskConsult conducted risk identification, analysis, mitigation workshops and validated base costs and schedules using RIAAT for the ~USD 1.5 billion Lima Jorge Chávez International Airport expansion project. Applied the CEVP-RIAAT process.
• Wiener LinienmajorStrategic or Co-development PartnerRiskConsult won the tender as best bidder to support Wiener Linien with implementation and execution of an integrated cost and risk management system for U2 extension and U5 new construction. Project volume: ~€1 billion.
• ASFINAGmajorStrategic or Co-development PartnerRiskConsult advises ASFINAG on alliance contracts for major tunnel projects including the Landecker Tunnel, providing construction economics and risk engineering advice including incentive mechanisms (Bonus/Malus) and alliance contract development.
• ÖBB (Österreichische Bundesbahnen)majorStrategic or Co-development PartnerRiskConsult advises ÖBB on alliance contracts for the Rohbaustollen Angath (preliminary tunnel) as part of Brenner Nordzulauf 4-track expansion, developing incentive mechanisms and alliance contracts.
• MTA New York City TransitminorStrategic or Co-development PartnerRiskConsult conducted risk workshops and modeled integrated cost and construction schedule for the Canarsie Tunnel (Subway Line L) rehabilitation. Risk assessment performed with G-m JV.
• Amt der Vorarlberger LandesregierungmajorStrategic or Co-development PartnerRiskConsult advises the Vorarlberg state government on alliance contracts for the Stadttunnel Feldkirch (~€300 million), developing incentive mechanisms (Bonus/Malus) and alliance contract documentation.
• Tirol KlinikenminorStrategic or Co-development PartnerRiskConsult advises Tirol Kliniken on alliance contracts for the Frauen-Kopf-Klinik renovation as Early Contractor Involvement model, developing Bonus/Malus incentive mechanisms and alliance contracts.
• Salzburger Regionalstadtbahn / S-LinkminorStrategic or Co-development PartnerRiskConsult advises the Salzburg regional railway project on alliance contracts, developing incentive mechanisms and alliance contract documentation.
• Wasserstraßen- und Schifffahrtsverwaltung des Bundes (WSV)minorStrategic or Co-development PartnerRiskConsult advises WSV on IPA for the Schleuse Herbrum replacement, including internal workshops on IPA and project objectives, contract preparation, and tender support.
• Elektrizitätswerke ReutteminorStrategic or Co-development PartnerRiskConsult helped Elektrizitätswerke Reutte set up the new alliance contract for the modernization of their existing power plant, transitioning from unit price tender to alliance model after contract award.
• IPD Innovation HubminorStrategic or Co-development PartnerPPF (Progressiver Partnerschaftsvertrag Framework) information shared through the IPD Innovation Hub (ipd-hub.de), a knowledge platform for Integrated Project Delivery.

Scale indicators3 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Arcadis: Arcadis is a global design and consultancy firm offering cost management, project controls, and risk services for infrastructure clients. It competes for risk and IPA mandates on rail, highways, and energy megaprojects across Europe, but as part of a much broader design-and-engineering portfolio rather than as a specialist.
• Mott MacDonald: Mott MacDonald is a global engineering, management, and development consultancy with extensive work on rail, tunnels, energy, and water infrastructure. Its advisory practice includes cost-risk management for megaprojects that directly overlaps with RiskConsult's offering, though delivered as part of a much larger multi-disciplinary portfolio.
• Turner & Townsend: Turner & Townsend is a global cost and project management consultancy serving infrastructure, real estate, and natural resources clients. It provides cost-risk advisory and IPA delivery support at a larger scale than RiskConsult, and competes on similar mandates (rail, energy, transport) but across a broader service portfolio.
• PwC (Capital Projects & Infrastructure): PwC's Capital Projects & Infrastructure advisory serves public and private owners of large infrastructure assets with cost, risk, and delivery-model advisory. It overlaps with RiskConsult on IPA/alliance consulting and megaproject cost verification, but offers it as part of a Big-4 advisory portfolio alongside tax, legal, and audit services.
• KPMG (Infrastructure Advisory): KPMG's Infrastructure Advisory practice advises public-sector owners on major project delivery, including cost-risk management, target-cost validation, and contract structuring. It competes with RiskConsult on the same DACH and European government mandates but operates as a broad advisory firm rather than a specialist.

Direct peers

• PMA Consultants: PMA Consultants is a US-based project management and risk advisory firm specializing in capital project risk, claims, and controls for owners of large infrastructure programs. It is a direct peer in the niche of owner-side risk advisory on megaprojects, with comparable specialist positioning though focused on the North American market.
• HKA: HKA is a global consultancy specializing in construction claims, dispute resolution, and project risk advisory for major infrastructure and capital projects. HKA is the closest direct competitor to RiskConsult in the niche of probabilistic risk and cost advisory on megaprojects, with a similar specialist positioning but larger international footprint.
• John Reilly Associates: John Reilly Associates is a US-based consultancy focused on probabilistic cost and schedule risk analysis for major capital projects, and the originator of the CEVP/CRIP methodology that RiskConsult co-developed into CEVP-RIAAT. It is the most direct peer in terms of methodology, customer base (public owners of megaprojects), and product offering.

Market position

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/channel/UCFvEF4fpQImM0Oy3w9FBqjg
• LinkedInlinkedin.com/company/riskconsult-gmbh

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about RiskConsult