Our Risk Management team has a suite of qualitative, quantitative and analytical tools that can help you to understand your exposure, and how to make effective and efficient provision for risk.

Qualitative Risk Assessment

Qualitative assessment is part of a risk identification process, often a pre-cursor for more detailed cost and schedule assessments. We use Probability-Impact Grids to provide a consistent scoring of risk that can change as the project develops. They are also used to show the risk to other project objectives, for example, performance.

Quantitative Cost Risk Assessments

Quantitative Cost Risk Assessments are used to support investment decision-making, prediction of out-turn costs, and tender analysis. 

Quantitative Schedule Risk Assessments

The assessment tests the logic within the plan and helps to improve the plan by clarifying assumptions, highlighting decision points and contingency plans.
 
Cash flow Modelling

A fairly typical cash flow profile for a project involves some effort, e.g. financial expenditure, followed by some benefit, e.g. income.

Once the project has defined its cost and schedule risks, the question often becomes, "how do these combine to affect the business case for the project?". Elastic Cash Flow modelling is an effective way of answering this question and integrates an understanding of cost and schedule risk.

Insert ECF figure from LUL
Cost risks cause parts of the Cash flow profile to move up or down, while Schedule risks move parts of the profile to the left or right.  This profile can be used to understand the Uncertainty around a Business Case, providing early warning of potential funding issues.

Risk Management

Aimed at supporting the delivery of projects in a more long-term role, we are highly experienced at developing and implementing risk management on projects of all shapes and sizes. This ranges from developing a completely new risk management process and rolling it out through an organisation to taking an existing process and ensuring that it is operating effectively.

We can either then continue to run the risk management process on behalf of the organisation, or provide training and support to allow project teams to run the risk management process themselves.

We have particular expertise at making the risk management process work effectively with other project processes to ensure that it is not a sideline but forms a critical part of delivering project success.

Bespoke Risk services

Many times we have come across situations where existing tools and approaches do not deliver the information our clients require – in this situation we simply help clients to develop  a completely new approach!