RISK ASSESSMENT & MANAGEMENT
Although successful projects make the company successful, only a small fraction of all projects is actually successful. The vast majority of projects struggle with cost overruns, significant delays, and lack of resources.
Project-driven organizations and teams increasingly discover the importance of risk assessment and management. Increasing competition and internal budget constraints ask for insight into the risks within projects, especially on the impact of such risks on the project timelines, costs/resources, and the quality of the end product. Studies have shown that sound risk management leads to successful projects and that transparency around project risks is a must!
Good risk management must meet several conditions.
• When performing "Schedule Risk Assessment", the used method must be quantitative;
• The input must be objective;
• Project teams must have experienced Subject Matter Experts available;
• A risk mitigation/management plan need to be available;
• The Executive Board should visibly support risk management.
Risk management leads to a better understanding of the project planning and status. It facilitates better decision making. It will enhance communication in project teams and will contribute to the growth of knowledge within the organization.
How can Maetriq help?
Maetriq performs the steps necessary to make project risks transparent:
• Analyzing and quantifying project risks;
• Performing risk assessments and reporting;
• Developing risk management plans;
• Providing risk management training.