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Risk Management

Risk can be good if you know how to manage it

Understanding the entire risk picture is key to project outcome and these insights can dictate the difference between project success and failure. Starting in the early stages, when the ability to influence outcomes is at its peak, certainly pays off. Starting late, for example when something unforeseen occurs, may prove costly and in some cases, the point of no return may have been passed.     

While working on risks, it is key to keep in mind that it has both an upside and a downside. The greater the downside potential, the greater the upside – if it has been identified, understood, and acted upon in due time.

We provide different risk management services including:

  • Qualitative Risk Assessment
  • Quantitative Risk Assessment
  • Upside vs Downside Risk
  • Workshop Facilitation
  • Cost/ Schedule Risk
  • HSEQ Risk

Experience has shown that the key reasons why projects may fail to perform include the following 3 main groups: 

bad planning
Bad project development and planning 
  • Failing business case 
  • Unknown risks in the selected solution 
  • Insufficient specifications 
  • Poor contracts / execution strategies 
  • Unrealistic budget and schedule targets 
bad execution
Bad execution 
  • Lack of systematic follow-up
  • Inadequate buy-in from owners/stakeholders
bad luck
Bad luck?
  • Risk taking is in the very nature of any business 
  • Bad luck or bad management?
  • Known versus unknown risks 
  • Seemingly those being well prepared also seems to be having better luck 

Risk-Based Management

In asset-heavy industries, the risk picture is highly influenced by how assets are designed, built, maintained, and operated. In addition, the external environmental conditions in which they operate in is a factor to be accounted for.

Risk inherently has both a downside and an upside, and by proactively managing the entire risk picture, downsides can be avoided, and upsides may be exploited – in a proactive way with fewer surprises and uncertainties.

Our five-step Risk Management process identifies and quantifies risk allowing our clients to implement measures on an as-needed basis. 

Our five-step Risk Management process identifies and quantifies risk allowing our clients to implement measures on an as-needed basis. 

Case Studies

Contact Information

Molde
Axess AS
Oscar Hanssens vei 5
6415 MOLDE
+47 982 43 600
Aberdeen
Axess North Sea Ltd.
Units 6 & 19 Robert Leonard Centre
Howe Moss Drive, Kirkhill Industrial Estate, Dyce AB21 0GG, UK
(duty): +44(0) 7912212854
St. John's
Axess Baffin Inc.
702 Water Street, Suite 201
St. John's, Newfoundland
+1 709 758 7937
Bergen
Axess AS
Kokstadflaten 35
5257 Bergen
(duty): +47 982 43 600
Houston
Axess North America Inc
15915 Katy Freeway, Suite 501
77094 Houston, TX
+1 (281) 994-0367
Ciudad del Carmen
Axess De México
+1 (281) 994-0367
Stavanger
Axess AS
Koppholen 25, 4313 Sandnes
Stavanger, Norway
(duty): +47 982 43 600
Rio de Janeiro
Axess do Brasil Ltda
Rua Dezenove de Fevereiro
171 - Botafogo
CEP 22280-030 Rio de Janeiro
+55 (21) 4108-0532
Accra
Axess Petrorig Ghana Limited
3rd floor, The Pelican
8 Blohum Street, Dzorwulu, Accra, Ghana
+233 (0) 30 397 0548
Luanda
Rainha Ginga
127 Luanda, Angola
+27 82 202 5266
Cape Town
Axess Africa Ltd.
1 Nares Street
Observatory
7925 Cape Town
+27 82 202 5266
Trondheim
Axess AS
Nedre Bakklandet 58C
7014 Trondheim
(duty): +47 982 43 600
Orkanger
Axess AS
Grønøraveien 1
Orkanger
7300 Orkanger
(duty): +47 41 78 06 30
Oslo
Axess AS
Filipstad Brygge 1, 3rd Floor
Oslo, Norway
(duty): +47 982 43 600
Busan
Axess Offshore Korea LLC
#103 (Aju-dong Hyunjin Evervil) B1 Yang 1-gil, Geoji-Si
Gyeongsangnam-do, South Korea
+82 10 8929 2016
Mumbai
Axess Offshore (Mumbai)
WeWork, Building Zenia
Unit No. 5-119 Hiranandani Circle
Hiranandani Estate
Thane, Maharashtra 400607, India
Singapore
Axess Offshore Pte Ltd
Nordic European Centre #05-31 South Wing
3 International Business Park
609927 Singapore
+65 6908 4174
Perth
Axess Offshore Australia Pty Ltd
304 Newcastle St
Perth WA 6000
+61 4 3373 0739
Perth
Axess Offshore Australia Pty Ltd
140 St Georges Terrace L28,
Perth WA 6000
+61 4 3373 0739
Map of Departments Molde Aberdeen St. John's Bergen Houston Stavanger Villahermosa Rio de Janeiro Accra Luanda Cape Town Trondheim Orkanger Oslo Busan Mumbai Singapore Perth