Risk management enables clients to attempt to control future outcomes. Having this proactive approach is key as it can influence project success or failure. Integrating risk management in the early stages, when the ability to influence outcomes is at its peak, helps to minimise risks and unnecessary costs.
Experience has shown us that the key reasons why projects fail fall under the following 3 main categories:
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
- Lack of systematic follow-up
- Inadequate buy-in from owners/stakeholders
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
What we offer
We provide various risk management services including:
- Qualitative Risk Assessment
- Quantitative Risk Assessment
- Upside vs Downside Risk
- Workshop Facilitation
- Cost/Schedule Risk
- HSEQ Risk
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 environmental condition in which they operate in is also a factor to be accounted for.
It is important to bear in mind that there are both upside and downside risks. The greater the downside potential, the greater the upside, that is, if it has been identified, understood and acted upon in due time. By proactively managing the entire risk picture, downsides can be avoided and upsides may be exploited.
Our five-step risk management process identifies and quantifies risk allowing our clients to implement measures on an as-needed basis.
