rhi’s risk management experts can help clients identify, quantify and manage the key risks and uncertainties impacting a project. This is achieved through facilitated workshops, probabilistic cost and schedule modelling, collaborative feedback reporting and ongoing management of mitigating actions.
Our risk management approach follows five basic steps to assist project teams to deliver a simple yet effective risk management process:
- Risk identification - recognise and describe risks that might affect your project or its outcomes.
- Analyse the risk - determine the likelihood and consequence of each risk.
- Evaluate the risk - determine the risk magnitude (a combination of likelihood and consequence).
- Mitigate the risk - assess your highest ranked risks and set out a plan to treat or modify these.
- Monitor and review the risk - apply your project risk register to monitor, track and review risks through each project phase.
| Challenge | Solution |
|---|---|
How do I identify, quantify and manage the key risks and uncertainties impacting my project? | rhi has extensive experience in facilitating cost and schedule risk analysis (CSRA) workshops with project teams. We use our in-house tools challenging the scope, uncertainty and event risks, which enables our consultants to report back on likely schedules and outturn costs. |
How do I achieve cost and schedule certainty? | Project teams will have confidence that estimates and schedules are robust, reflect the most likely outturn and recommended contingency levels which reflect the prevalent uncertainties and risks. |