Project Risk Assessment: On-site or On-line Consultancy
PMIS supports organisations to perform a project risk assessment in two ways: on-site or on-line
PMIS provides a world wide on-site project risk assessment service, for EPC and other major contracting and project based companies. Our staff are highly experienced in project risk management processes. We will work with you to facilitate the assessment of and the development of a fully analysed risk management plan on any given project, for example on behalf of a sponsor or customer. The full list of outputs are described at the foot of this page.
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On-line – Click here for a full description of how Online support is provided
Using simple or more sophisticated online tools, we have proved already (through work with other clients) that we can support you remotely with the development of a fully analysed risk register, and risk management plan. This can have a number of benefits, from reduced cost and it can reduce the lead time in organising the assessment considerably. We are also able and happy to take responsibility for the production of key outputs.
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Approach – focused on the practical and on adding management value
We focus primarily on the practical side of risk assessment and management, that is identification and assessment, together with clear actions that bring positive influence on risk in a measurable and beneficial way. We can include the results of statistical analysis as part of the output but would always recommend that majority of effort is spent on identifying risk and in developing effective mitigation and contingency plans. Lastly we are always flexible in the way we work and will tailor any aspect of the process to the needs of the sponsoring organisation.
Process and Duration
For PMIS to conduct an activity like this it will need to have a formal terms of reference including a clearly defined set of outputs. The methods of risk assessment and analysis would be agreed in advance, to ensure that the sponsor and all stakeholders gain the maximum benefit and data from this exercise. As well as producing a formal assessment of risk, PMIS will always produce as a minimum written findings in summary report format, for the sponsoring organisation. Other information could be produced subject to prior agreement.
If you choose the online support option you can decide the level of support you require, allowing us to set and manage to a fixed budget. If we take responsibility for production of a fully approved deliverable, this can take between 5-10 days depending on the size of the project and the availability of key people. It is not possible to produce a professional and fit for purpose output in 2-3 days on a major project.
The main outputs would include, as a minimum:
- a statement of the individual key risks facing the project
- a fully analysed risk register
- an assessment of the financial ($) total exposure to risk on the project
- a set of actions for the project team to own going forward, including mitigation and contingency plans as appropriate
- a set of metrics to manage risk across the project going forwards
- recommendations regarding on-going management and control of the process
- and if required, a full quantitative risk analysis of either cost or schedule or both, based on Monte Carlo type methods.
Risk Assessment Process Tools
To facilitate an affective process and to speed up the assessment activity, PMIS has a number of unique process assets, e.g.
- risk identification models – to speed up and facilitate the challenging task of risk identification
- risk management coaching material
- risk assessment methods
- risk registers to store all key data and produce key metrics
Email us today to find out more on any of the above.
Related Pages: Online Course
We run an instructor led online course every month on how to conduct a project risk assessment – we can also run this course specifically for your business.
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Email us today to find out more on how we can help you.