Risk management covers several distinct activities all geared towards ensuring that the project has identified the relevant risks to the project and put appropriate management processes and control measures in place to manage the risks throughout the project or operational phases.
- Qualitative Risk Analysis
Based around the ISO 31000 standard for Risk Management, our iterative approach through facilitating project team risk workshops, is to identify and analyse the risks, prioritise them for management attention, assign ownership and then design risk management approaches to reduce the risk to the required manageable levels.The output from a qualitative risk method is primarily a risk register that your project staff can review on a regular basis and use as the tool to focus project staff on the identified risks and undertake an ongoing risk management process.
- Quantitative Risk Analysis
Our quantitative risks analysis services cover the application of a broad range of risk techniques such as Monte Carlo, LOPA, HAZOP etc. We will structure the process to fit the exact circumstances of your project and the nature of the risks to be assessed. For example, the approach to determining programme or cost risks is completely different to the techniques suitable for assessing operational or safety risks. Therefore, before we start such a process we would need to fully understand your requirements and the types of risks you require assessing.
- Ongoing Risk Management
Once an initial risk analysis is undertaken, we can offer a continuing service, whereby at regular intervals, we can audit and/or offer a quality assurance service to verify that the risk management activities are being undertaken as planned. We can also offer management of further risk workshops or studies, which may be appropriate as the project stages progress and change.
- Risk Policies and Procedures
As well as undertaking risk studies on live or planned projects, we can also develop for your company standard risk policies and procedures based around the ISO 31000 series of standards. These policies can be tailored from Enterprise Risk level, suitable for companywide adoption across all business processes, down to specific measures targeted at individual projects or addressing specific business risks. We can then advise and assist you through the introduction and adoption phases, transitioning the risk controls, practices and reporting into everyday usage.
- Risk Management Training
In addition to our consultancy services, we can also offer training in both basic and advanced qualitative and quantitative risk analysis techniques. We can tailor the training to reflect both your company processes and typical project or working environments.