Risk ManagementConsumer Products
Risk is an uncertain event or condition that, if it occurs, has a positive or negative effect on one or more project objectives such as scope, schedule, cost, and quality. A risk may have one or more causes and, if it occurs, it may have one or more impacts. A cause may be a given or potential requirement, assumption, constraint, or condition that creates the possibility of negative or positive outcomes.
Positive and negative risks are commonly referred to as opportunities and threats. The project may be accepted if the risks are within tolerances and are in balance with the rewards that may be gained by taking the risks. Positive risks that offer opportunities within the limits of risk tolerances may be pursued in order to generate enhanced value. For example, adopting an aggressive resource optimization technique is a risk taken in anticipation of a reward for using fewer resources.
Project Risk Management includes the processes of conducting risk management planning, identification, analysis, response planning, and controlling risk on a project. The objectives of project risk management are to increase the likelihood and impact of positive events, and decrease the likelihood and impact of negative events in the project.
What we do:
- Plan Risk Management
- The process of defining how to conduct risk management activities for a project.
- Identify risks
- The process of determining which risks may affect the project and documenting their characteristics.
- Perform Qualitative Risk Analysis
- The process of prioritizing risks for further analysis or action by assessing and combining their probability of occurrence and impact.
- Perform Quantitative Risk Analysis
- The process of numerically analyzing the effect of identified risks on overall project objectives.
- Plan Risk Responses
- The process of developing options and actions to enhance opportunities and to reduce threats to project objectives.
- Control risks
- The process of implementing risk response plans, tracking identified risks, Monitoring residual risks, identifying new risks, and evaluating risk process effectiveness throughout the project.
Our advice delivers because we merge business sense with technical strength, which benefits organization to:
- Assess risk
- Mitigate risk
- Audit risk
- Analyse variance and trend analysis
- Technical performance measurement
- Reserve analysis