Over Riskope’s 25+ year history, the company has carried out more than one hundred major risk management services and assignments for Fortune 500 companies, firms engaged in mining, resource extraction, energy generation and distribution, and transportation and logistics infrastructure, as well as government and public sector organizations.
5 keys to healthy project management that every manager needs, but only successful ones know.
Projects, particularly larger ones, are inherently risky due to long planning horizons and complex interfaces. Inevitable changes in management and workforce personnel during the project’s cycle are known to increase uncertainties and generate unwanted additional risk exposures.
Complexity, interdependencies and unplanned events are often unaccounted for, leaving budget and time contingencies inadequate.
May be you are among those who:
- Are concerned that all risks may not have been identified and their consequences are underestimated.
- Find that too many risks are classed/binned together and lack adequate differentiation.
- See that the existing project risk analyses do not include interdependencies, media outburst, potential for public outcry and the potential crisis impacts that could result.
At Riskope, we talk on a regular basis with Project Managers who want to fill these gaps, but who can’t find solutions in common practices. The good news is solutions exist and are affordable!
If you have at hand a clearer understanding of the project’s system your decision making will become easier and more defensible, costs will be under control— and, you will reduce the chances of experiencing the stress of coming in over budget, costly delays, being cornered, or worse of all complete project failure (on your watch).
Riskope will support your endeavors by:
- enhancing your team’s understanding of uncertainties,
- evaluating events and the implications of your assumptions,
- helping you discern between “business as usual” and risks to large to take,
- performing solid and well balanced quantitative project risk assessments and
- integrating the results of our analysis in a customized project management road-map totally unique to your business.
Riskope will undertake all or a selection of the following steps with your team:
- Define System’s Anatomy and Boundaries, perform Hazard Identification.
- Identify Elemental Failure Modes and their aggregated consequences.
- Evaluate Hazards and Elemental Failure Modes Probabilities.
- Evaluate Potential Targets and Costs of Failure including Compound Failure Modes and Interdependencies.
- Determine universal and sectoral Risks in a scalable and transparent manner.
Are you following:
- ISO 31000?
- ISO 31010?
- ONR 49000?
- AACE International Recommended Practice No. 57R-09, Integrated Cost and Schedule Risk Analysis using Monte Carlo Simulation?
Oftentimes teams following these practices are surprised to realize that, despite their efforts, their decision making, long term planning and management road-maps remain fuzzy, especially in multi-actor processes involving multiple stakeholders, both public and private, driven by conflicting interests. The reason for this lies in unclear, unscalable, cluttered and opaque assumptions in common practice approaches used to implement those codes and methodologies.
Like many of Riskope’s clients you will see immediate benefits and realize the advantages of Riskope’s actions, including:
- Confidence, clear decision-making, and powerful leadership.
- Clarity and transparency from streamlined Risk Assessment, where double counting and other common mistakes are eliminated.
- Ease of internal and external communication thanks to the use of a clear glossary and definitions based on solid science.
- Rational and unbiased inclusion of lessons learned from past operating experience on similar projects (if available) and integration your team’s opinion in a scalable environment.
- Enhancement of your negotiating angles and increase of your competitive edge.
The Swiss Army, General Electric, mining companies around the world, UNDP and very large contractors have all already enjoyed the benefits of Riskope’s unique and leading edge approach to risk, which are based on over two decades of international experience, the deployment of innovative, proven proprietary methodologies and the capacity to digest large volumes of information aimed at:
- Bringing crystal clear clarity and transparency to projects.
- Building sound leadership.
- Creating defensible stances.
- Durable mitigation and management.
Riskope’s services are designed for those managing projects where cost and schedule accountability are required. It is not for people satisfied with the “Break-Fix model” or that want a project happening no matter what. Nor are these services for those that are comfortable with the status quo.
So if you are tired of:
- sleepless nights worrying over your project,
- chronic stress and concerns over quality,
- your project teams being overwhelmed by vast amount of data,
- not knowing how to calibrate mitigation appropriately,
then it’s time to work with Riskope.
Getting started with Riskope is easy: after a first contact, we will sign a NDA, receive your project description and give it a preliminary read. Then we will discuss and define a custom tailored approach with you and your Project’s team. In a week or so you could be entering in a whole new world of risk management!
Our fees will most likely be less than the savings derived from correcting even one single wrong assumption. We also like to be creative and could workout with you a bonus package where we link part of our fees to the results.
We guarantee that the results of Riskope’s services will enhance your understanding of the project risks and mitigations, and reduce your stress.
We look forward to your email and supporting your endeavors. On time, on budget!
While all of our work is tailored to meet the unique requirements of each assignment, chances are we have done work that is similar to your needs, and can provide you with an example of our work. Contact us – we are here to help.
Our case studies provide a flavor of our approach and the support we provide for informed decisions that preserve enterprise value.
The case studies are organized by Industry Sector and Risk Hazard.
Riskope tailored Risk Management Services include:
Risk Analysis & Assessment Reports
- Optimum Risk Estimates (ORE) that use quantitative empirical data, careful modeling, analysis of probabilities and consequences, and an understanding of tolerance for risk, in order to establish clear priorities and allocate resources for action.
- Environmental risk assessment reports that objectively evaluate and quantify the risks associated with natural hazards.
- Project feasibility reviews that provide an impartial, third-party validation of key assumptions, calculations, and risks for project feasibility studies.
- Analysis of M&A transaction risks, to identify and quantify risks that could impact enterprise value.
- Hazard mitigation advice, to establish clear priorities for action, resource allocation, and capital investment.
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Risk Management Plans
- Investment priorities for risk mitigation that align risk mitigation with risk tolerance.
- Evaluation of strategic alternatives, based on comparative risk profiles.
- Project risk management and life cycle plans, using Riskope’s Comparative Decision Analysis software, to address the limitations of traditional Net Present Value (NPV) approaches.
- Guidance for public consultation processes, that incorporate transparent risk assessments to builds supporters rather than antagonists.
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Enterprise Risk Management (ERM)
- Risk & security audits to verify compliance, identify compliance gaps, and assess effectiveness of systems in preventing risks.
- Supply chain risk assessment, to evaluate critical interdependencies and complexities of supply chain systems.
- Business continuity and resilience evaluation of catastrophe preparedness, crisis management, and operational resilience in face of business disruption.
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Litigation and Insurance Support
- Insurance denial disputes, including review of risk assumptions used to support coverage denial and claims disputes.
- Force Majeure clause assessments, to identify weaknesses in standard legal language that creates unnecessary litigation risk.
- Negotiation and litigation support
- Expert witness testimony
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