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Risk Management

' Obviously, a man's judgement cannot be better than the information on which he based it. Give him the truth and he may still go wrong when he has the chance to be right, but give him no news or present him only with distorted and incomplete data, with ignorant, sloppy or biased reporting, with propaganda and deliberate falsehoods, and you destroy his whole reasoning processes, and make him something less than a man'.

Arthur Hays Sulzberger

Risk Management is a process which enables the identification, assessment, planning and management of all the risks associated with undertaking a project. In the context of Project Risk Management a risk is defined as an uncertain event or set of circumstances that, should it or they occur, will have an effect on either the Project's business objectives in terms of safety (both during the project and after handover), operability, reliability and maintainability i.e. Business Risks or the Project's objectives in terms of time, cost and quality/performance, i.e. Project Risks.

The generic process of Project Risk Management follows a number of sequential stages as illustrated below.

  1. Information - What does the project look like?
  2. Identification - What are the risks?
  3. Assessment - How big are these risks?
  4. Planning - How do we propose to manage these risks?
  5. Management - Management of the risks.

We have vast experiance in applying Risk Management on projects as well as in Asset Management on a larger scale i.e. risk based AM to enable organisations to manage their assets in the most cost and risk effective way possible.

For more information on the services that we offer please contact us.