Risk Management can help provide maximum value from projects through the identification and proactive management of risk. And in today’s fast-moving environment, it is the successful management of risk that separates winning companies from the rest.

Whatever your objective, the aim of the e+p Risk Management process is to protect your investment. We model your investment, internal factors, external factors, competitors and regulators. "Soft issue" risks such as personnel, company image, and personal relationships can also be factored into the analysis.

The model will not only describe what you intend to do, but also take account of the market opportunity, the returns to external stakeholders, as well as the original aim of the investment.

Your investment can then be based on achieving the optimum utilisation of your resources, whilst providing the highest practical level of insurance against events, irrespective of whether these are under your control or not.

Structured Facilitated Assessments

We provide structured assessments, with an experienced e+p facilitator helping to develop a top-down, comprehensive model of the task.

Project tasks, features and methodologies are introduced, opportunities and threats to these goals identified, and the results developed into a Project SWOT analysis.

Quantitative Assessment of the project then follows, concentrating effort on the areas of the project identified as most uncertain. The model can be modified to identify sources of uncertainty and their significance to your development, which enables your budget and timeframe estimates to be measured. As a further analysis, mitigation scenarios are tested against the model to ensure that they are effective.

Like any Risk Management tool, the most important feature of the process is that risk awareness, assessment, and mitigation development are highlighted to all team members.

Post Workshop Consultation

Following brainstorms or structured assessments, risk matrices with workshop input are circulated to team members, to allow for reflection on the risk items that the process has identified. This consultation enables mitigation proposals to be added for new risks, along with the associated potential impact cost to the project.

When deskwork is complete, and some mitigation is being implemented, it is preferable to hold a second workshop, where the risks can be further challenged in the light of new and more detailed project information. Risk owners can then clarify concerns and modify probabilities as necessary.

e+p use the professional risk management tool Ris³. This is a commercially available package developed by DERA and Line International.

The process follows a structured approach ensuring quality assurance and maintenance of appropriate records.

Six phases to successful risk management

Phase 1 - Identification.
This requires the cataloguing of all known risks, using various techniques including drawing on collective experiences and previous knowledge lists.

Phase 2 - Current Qualitative Assessment.
Establishes the likelihood of risks occurring and their impacts, scores them against set criteria as High, Medium, Low or Nil, and allocates a risk category from 1 to 6.

Phase 3 - Risk Management.
This reflects the process of risk mitigation through pro-active management. It involves the identification of remedial action for the risks that require active management, segregates those that only require monitoring and records secondary risks that might arise from implementing your risk mitigation plans.

Phase 4 - Post Risk Qualitative.
Re-assesses the risk against set criteria, to gauge the efficacy of the planned mitigation to determine the level of residual risk.

Phase 5 - Fallback Plans.
Identifies actions that need to be taken should a risk occur in spite of mitigation action.

Phase 6 - Quantitative.
Permits cost or schedule analysis, to help judge the benefits and aid the assessment of contingencies in relation to residual risk exposure.