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2m-pmc : Management Consultants : Solutions : Results
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2m-pmc - Management Consultants

Tel: + 44 (0) 191 543 8085

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

RISK MANAGEMENT

2m-pmc : Management Consultants : Risk Management

..don’t base the business on a roll of the dice!

2m-pmc : Management Consultants : Risk Management

2m-pmc : Management Consultants : Risk ManagementRISK MANAGEMENT


THE VALUE OF INFORMATION


Risk taking in business is inevitable as Strategic Planning and Project Implementation are enables of change – and change induces uncertainty and hence risk.

Risk Management should be systematic and not based on chance. It is about pro-active identification, assessment and control of risks that may affect the delivery of the business or project objectives.

2m-pmc have the capability to work with Clients in the review and management of their Corporate, Business Case and Project Risks.

2m-pmc will assess and review the strategic plan, or business proposal identify risks and using leading applications, proven processes and our extensive experience, provide impact and assessment outputs.

WHAT ARE RISKS ?


A risk is an uncertain event or set of events that, should it occur, will have an effect on achieving the objectives. It consists of a combination of the probability of a perceived threat or opportunity occurring and the magnitude of its impact on objectives, where:-

Threat – an uncertain event that could have a negative impact on the objectives

Opportunity – an uncertain event that could have a favourable impact on the objectives  

In the context  of a project, ongoing BAS [Business as Usual] or a well defined Strategic Plan – it is the following indicators that are at risk, i.e.

Time : Cost : Quality : Scope : Benefit : Risk


FOREWARNED IS FOREARMED

With the key metrics [KPIs] under threat of change due to risk and uncertainty, 2m-pmc provide the capability, aligned with proven experience, to model, analysis and provide forecasts on the impacts on uncertainties.

This information is then invaluable when assessing Strategic Plans, Operational Change, Programme and Project investment decisions.

2m-pmc : Management Consultants : Risk Management

2m-pmc Risk Management Processes integrates cost and schedule risk analysis.

Monte Carlo scheduling of a plan with risk analysis helps to determine the impact of risks and uncertainties on the schedule.  Risks can be quickly linked to activities, generating a risk adjusted project schedule.

Sensitivity analysis leads to ranking of risks within a risk register, leading to probabilistic output from the initial deterministic plan.

Subsequent reviews and analysis enable sensitivity analysis and probabilistic forecasts on actual project costs and end dates – allowing the Client to make appropriate previsions in contingency – both in terms of likely full costs and forecast completion – and thus timings for ROI, project new cash flows and income generation.


2m-pmc : Management Consultants : Risk Management

PROBABILITY & IMPACT

APPROACH TO RISK MANAGEMENT

2m-pmc support the business to identify, assess and control uncertainty and as a result improve the ability of the business  to succeed.

Information is key to understanding the risks, assessing probabilities and impact and the subsequent development of mitigation plans.


Risk Analysis : Distribution and Forecasts for Cost and Schedule