Project Risk Management
Proactive strategies for successful project outcomes
Project Risk management is focused on anticipating what might not go to plan and putting in place actions to reduce uncertainty to a tolerable level. It is the process of identifying, analysing, and responding to risks that may impact the successful completion of a project. It involves identifying potential risks, evaluating their likelihood and impact, and developing strategies to mitigate or address them.
Effective project risk management is an important part of successful project management, as it helps to ensure that a project stays on track and is completed within budget and on schedule. It can also help to minimise the impact of unexpected events on the project and its stakeholders. The process allows individual risk events and overall risk to be understood and managed proactively, optimising success by minimising threats and maximising opportunities.
Within the PRM setup and services, we offer:
Risk Governance
Development of a risk governance framework to outlines roles, accountabilities, responsibilities, and decision-making processes for managing risks.
Risk Management Lifecycle
Risk identification, assessment, analysis, response and planning, monitoring and reporting.
Early Warnings and Issue Management
Support and management of early warnings and issues, specifically tailored to align with the NEC4 contract framework. With a deep understanding of the NEC4 provisions.
Quantitative Risk Analysis
Advanced statistical methods and modelling techniques to quantify and assess the potential numerical values of the impact of risks on a project schedule or cost profile.