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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
      Villahermosa
      +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)
      Alpha, 2nd Floor Unit No. 201
      Hiranandani Gardens Powai, Mumbai
      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
      140 St Georges Terrace L28,
      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 DepartmentsMoldeAberdeenSt. John'sBergenHoustonStavangerVillahermosaRio de JaneiroAccraLuandaCape TownTrondheimOrkangerOsloBusanMumbaiSingaporePerth