Project Risk Management
Everyone should be concerned with project risk management, because risk and uncertainty with potentially damaging consequences are inherent in all projects, especially construction and maintenance projects and the success or failure of any project that a client undertakes will depend on their approach to risk management.
The Need For Project Risk Management
Traditionally, risk has been applied instinctively with risks remaining implicit and managed by judgement, informed by experience. We pride ourselves in offering a systematic approach to project risk management, that makes your risks explicit by formally describing them and making them easier to mitigate, reduce, transfer and manage. Our systematic and strategic project risk management approach known as RADAR (Resolex – Avoiding Dispute; Avoiding Risk), will help a client to:
Identify, assess and rank risks making their risks explicit;
Focus on the major risks from their project/s or project programme;
Make informed decisions on the provision for adversity;
Minimise potential damage should the worst case scenario unfold;
Control the uncertain aspects of construction/maintenance projects;
Clarify and formalise their role and the risks of others in the risk management process (the human dynamics of risk management);
Improve communication and therefore allowing for more informed decision;
Identify their opportunities to enhance project performance.
Project Risk Management Strategy
Although one can never remove all uncertainties inherent in projects, RAG’s systematic and strategic project risk management approach greatly improves the chances of a client’s project/s and project programmes being completed on time, within budget and to their required quality, with proper provision for health, safety and environmental issues. RAG has partnered with Resolex (UK) in offering our unique RADAR (Resolex – Avoiding Dispute, Avoiding Risk) system to our client base.