Risk Management Consulting Services
Risk Exposure
What is Risk Management Consulting?
Risk Management Consulting Services can significantly influence & improve the success rate of the Project. Projects play the vital role in converting the Strategies into Risk Management Practices. As a result of this, Project Managers, Functional Managers, Line Managers and Department heads act as Risk Experts. Risk Management practices help them to detect the early warning signals and respond to them promptly.
Risks can be External (cannot be controlled by the Project Manager) and Internal (can be managed by Project Manager). A risk is an uncertain event or condition that, if it occurs, has a positive or negative effect on a project's objectives. If you invest in training the employees on Risk Management, each employee can provide Risk Management Consulting Services internally and manage risks related to Enterprise or Business or Process level and deliver successful Products or Projects. Practical Risk Management can help businesses in implementing the world-class Safety Standards systematically.
Risk management needs systematic and scientific approach. Fortune 500 Companies understand the importance of effective Risk Management. Fortune 500 companies hire Risk Management consulting companies. Enterprise Risk Management consulting firms conduct the assessment of "Risk Maturity" across the Organization and provide the roadmap for dealing with Risks effectively.
risk cycle
We provide Risk Management Consulting services based on established Risk Management Standards practices such as:
- The Committee of Sponsoring Organizations of the Treadway Commission (COSO) Enterprise Risk Management(ERM) — Integrated Framework
- The Institute of Risk Management standard
- ISO 31000 2009 Standards
Risk Phases 1
These standards help in Identifying the Risks, Risk Assessment (Qualitative & Quantitative), Planning Risk Response, Implement Risks Responses, Control & Manage Risks (as continuous process throughout the Project Execution).
Risk Phases 2
Our Risk Management Consulting Services cover:
- Enterprise Risk Management
- Enterprise Risk Maturity Assessment
- Setting up PMO (with emphasis on Risk Management)
- Recommend Risk Standards (based on projects or products or industry)
- Project or Product Risk Management
- Identify Risks
- Qualitative Risk Analysis
- Quantitative Risk Analysis
- Plan Risk Response
- Implement Risk Response
- Monitor & Control Risk
- Risk Reassessment
Risk Threat Opportunity
Enterprise Risk Management: We assess companies on their Risk Maturity and provide the high-level Report. Various levels of Risk Maturity are Naive, Novice, Normalized, and Natural. We work with Senior Executives on preparing the roadmap for improving the Risk Maturity of the Organization. Our Risk Management Consulting Services help organizations in developing Risk Management Plans, Risk Management Templates, Risk Management Dashboards and Risk Management Standards. We assist businesses in conducting Risk Management Awareness sessions, preparing Risk Management Case studies (tailor-made to the industry or previous experiences of the organization).
Project or Product Risk Management: Projects or Products have the highest level of risk exposure during initial stages. Practical Risk Management practices can scientifically reduce the risk. Risks are identified using techniques such as Brainstorming, SWOT Analysis, Cause & Effect Diagrams and analyzing past projects by involving all stakeholders in the organization. Our Risk Management Consulting Services are tailor-made based on the type of the Projects or Products (predictive or exploratory). We help organizations throughout the risk management process.
Enterprise Risk Maturity Levels
Some high-level steps we adhere to when we assess Enterprise Risk Management are:
- Identifying the risks
- Risk assessment
- Risk response planning
- Implement risks (take action if the risk occurs)
- Reporting risks (communication)
- Risk reviews
- Document risks (lessons learned or update risk register)
Risk Exposure
We help organizations in estimating the "Contingency Reserves" for Project/Product and Design Dashboards to monitor the Risk reserves.