Three experts answer the following hypothetical: Where do you wish engineering would take bigger risks?
Liza Maimone FIEAust CPEng EngExec
I believe the idea of risk management itself needs to evolve. Engineering needs to embrace a more dynamic, forward-thinking approach to risk – moving away from static, one-off assessments and toward continuous, iterative cycles of learning.
Emerging technologies such as AI and machine learning offer powerful tools to support this shift, allowing engineers to process vast data sets, predict risks more accurately and adapt in real time.
We need to adopt a systems-wide perspective. Risks don’t exist in isolation; they’re interconnected across complex systems – whether it’s water, energy, digital infrastructure or supply chains. We need to assess these interdependencies to understand how risks compound or cascade.
This holistic view is critical, particularly in areas such as national resilience.
Finally, I believe engineers should feel empowered to balance risk and opportunity to create value, rather than defaulting to overly conservative positions. Innovation often stalls because rigid frameworks limit risk appetite.
By evolving our risk management models – leveraging analytics, focusing on whole systems and demonstrating how risks are managed effectively – we can unlock more room for creative, cutting-edge engineering solutions that create value while still satisfying project standards.
Liza Maimone FIEAust CPEng EngExec is a Director of Engineers Australia, and Chair of the People and Governance Committee.
Santhosh Therakam FIEAust CPEng EngExec
Engineering is a field that continually pushes the limits of innovation, and therefore the limits of risk tolerance. I think we need to promote a risk-embracing mindset if we are to achieve even greater advancements and tackle pressing global challenges.
Accepting and embracing risk has significant benefits. We can accelerate progress in sustainable energy and space exploration. We can transform manufacturing and industry by embracing new systems and technologies.
We need to invest in energy projects beyond solar and wind. Advancements such as nuclear fusion, solid-state batteries, hydrogen fuel and geoengineering could fast-track carbon neutrality. These require technical expertise and financial commitment, meaning we must take risks in our education system too.
Looking to space, this frontier demands risk-taking as we look to return to the moon and perhaps colonise Mars. Asteroid mining could also open doors to resource acquisition at a huge scale. AI and robotics will play a huge part in this and every sector, enabling autonomous construction, health care and disaster response.
This automation, properly managed, can enhance safety, efficiency and innovation in transport. Breakthroughs such as urban air mobility solutions, autonomous vehicles and maglev transit promise to revolutionise mobility.
As engineers, we must lead the charge. We need to be the ones fearlessly embracing higher-risk projects, and bringing clients and stakeholders along with us. We can shape a more innovative and sustainable future. Risk is not to be avoided. It is a tool that, correctly managed, will spur us towards a future of innovation.
Santhosh Therakam FIEAust CPEng EngExec is Chair of the Risk Engineering Society, Queensland Chapter.
Mark McManamny
Engineering must take bold risks to drive transformative change and deliver long-term benefits for communities. By managing complexity at scale – whether in transportation, energy or urban resilience – we create the foundation for innovation to thrive. In Australia and New Zealand, AECOM is leading this charge, delivering sustainable infrastructure and resilient communities.
We see immense potential in embracing advanced technologies. For example, our work on the Sydney Metro program demonstrates how digital modelling and data-driven design can accelerate delivery and improve outcomes. Similarly, on the Auckland City Rail Link, our work will become an enabler and facilitator of urban regeneration while enhancing sustainability.
We know our clients are under immense pressure to be prepared for the impacts and devastation caused by climate change. We need to challenge ourselves to build better, including consideration of nature-based solutions that can be delivered at scale to enhance the resilience of our communities.
We know innovative solutions such as this can challenge industry norms and standards, but there is enough evidence from our work around the world to prove these solutions work.
Together with diverse teams, we know creative thinking can unlock our best solutions. By embracing inclusivity, particularly First Nations, Māori and Pasifika contributions, we can create a better, more sustainable future for all.
By embracing risk, leading boldly and innovating fearlessly, we can help shape and deliver a better world.
Mark McManamny is Chief Executive Australia New Zealand at AECOM.
This article was originally published in the May 2025 issue of create with the headline “Blue-sky thinking”.
