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2m-pmc : Management Consultants - Strategic Planning 2m-pmc - Management Consultants
2m-pmc : Management Consultants : Risk Management 2m-pmc : Management Consultants : Risk Management

RISK MANAGEMENT & MITIGATION

RISK PLANNING

By adopting a robust risk review and management process at the early stage of the project life cycle, there are definite benefits in the later stages. The potential to influence change and address potential issues at the early stages of a project are far greater, with real net benefit at the later stages. The advantage of the qualitative approach is that as the process is based on the specific project, and is managed and coordinated by the project team, a regular update and review of the risk registers and the risk management plans provides a useful means of conducting project health checks.  


Monitoring progress of mitigation plans for high risk / high impact items provides insight into the effectiveness of the management plans and may give early warning that alternative risk management plans may be required.

2m-pmc : Management Consultants : Risk Management

RISK MANAGEMENT PROCEDURES

Comprising of 5 steps:-

The process of executing projects, and managing change, is to make decisions, with the intension of reaching the end goal. The decisions made throughout this process are ideally based on having a high degree of certainty on the outcomes of the various phases, stages and processes. The higher the degree of uncertainty in the available information, the greater the degree of associated risk.

2m-pmc : Management Consultants : Risk Management 2m-pmc : Management Consultants : Risk Management

RISK IDENTIFICATION & MANAGEMENT

Risk Identification and Management is increasingly recognised as important business drivers whilst stakeholders have become much aware of the impact of risk.

Risk must play a part as a key driver of strategic decisions, as risk, if left unattended may be a cause of uncertainty in the organisation or endeavour or it may simply be embedded in the activities of the organisation.

An enterprise-wide approach to risk management provides a structured and managed approach, thus enabling an organisation to consider the potential impact of all types of risks on all processes, activities, stakeholders, products and services.

2m-pmc : Management Consultants : Risk Management

RISK MANAGEMENT FOCUS

Implementing a comprehensive, be-spoke approach will result in an organisation benefiting from mitigating the negative impact of risk - whilst identifying the positive side of all potential opportunities.

Risk Management Principles:-

By applying proven risk management processes and principles to the strategic planning and project initiation and execution stages,  2m-pmc are able to support the business to identify areas of concern, uncertainty and threat that may have a negative impact on the planned undertaking.

Asset and Liability Restructuring

Strength and Weakness Analysis

Leverage Opportunities and Mitigate Threats

2m-pmc : Management Consultants : Risk Management

FRAMING THE PLAN

With a clear definition of scope, plan, strategy, budgets, resources, aims and objectives, the project can then be framed, and within the context of the specific project, areas of risk can be clearly identified. Once these risks, or opportunities, are identified, a process of assessment, review and management can be implemented.


The two approaches to risk management are Qualitative and Quantitative.

Risk Analysis : Identification, Assessment, Mitigation