Project Risk Management contains all tasks related to effective project risk management support services. Risk Management is all about consistency, predictability, repeatability and measurability. A risk is defined by the Project Management Institute’s (PMI®) A Guide to the Project Management Body of Knowledge (PMBOK® Guide) 5th Edition as, “An uncertain event or condition that, if it occurs, has a positive or negative effect on one or more project objectives.”
By proactively identifying and managing risks, we aim to change the outcome of negative or undesired outcomes to a positive or less severe outcome saving cost, time, and even avoiding project failure.
Project Risk Management functions would typically involve:
- Conducting Qualitative Risk Assessments;
- Developing a Qualitative Risk Register;
- Monitoring and controlling of risks;
- Managing Process to identify new risks;
- Updating current Risk Response Plans;
- Developing Risk Management Plans.
Professional & Competent Personnel
All of our Project Managers that assist with Risk Management are experienced in Project Management and are PMP® or RMP® certified. We provide ongoing training to all of our consultants and we believe in educating them in all disciplines of Project Management and not just their respective disciplines should they be professionals in a specific field. This gives our Risk Managers an objective view and understanding of Risk Management in the Project Management discipline and allows for greater control and comprehensive and proactive intervention.