optimise and associates offer extensive knowledge, experience and skills capable of satisfying any risk management requirement. Whether it be short term specialist services or longer term resource augmentation, optimise is able to offer a solution.
Understanding, defining, implementing and continually maintaining best practice risk management isn’t just about developing a set of procedures. It’s about developing a robust framework within which to develop approaches, culture/behaviours, roles, responsibilities, authorities, accountabilities, tools and techniques, guidance, and so on, prescribing only those elements that require some rigidity within the governance and assurance arrangements.
Our experienced personnel offer a range of skills suited to more ambitious endeavours, such as full architecture of an Enterprise Risk Management (ERM) framework, through to more modest local arrangements. It’s important to recognise that the context associated with implementation of risk management within a project environment differs dramatically from the requirements to effectively manage risk associated with, say, a corporate support function. Even within the confines of a project context requirements changes as a project progresses and transitions through the various phases of the project delivery life-cycle. To gain optimum value from risk management irrespective of where it’s to be deployed, flexibility and scaleability are required. However, the real key to unlocking the true benefits comes down to the ability to understand changing requirements and be able to intelligently apply the right mix of approach, tools and techniques to deliver the desired benefits.
Continuous improvement and keeping pace with an ever changing environment can be challenging, but this is key to maintaining a robust internal system of control that supports business resilience and confidence in meeting objectives. Key to this is effective Risk Management.
Being deep rooted in Governance, Risk & Compliance (GRC) optimise is ideally placed to review and assess the effectiveness of current processes and procedures with a view to recommending improvements where potential control weaknesses are identified. In extreme cases this may require full process re-engineering. With a view to linking these types of assessments to continuous improvement in Risk Management, optimise is able to utilise a variety of Risk Management Maturity Models (RMMM) to help you understand where different aspects of the business are today in terms of maturity and what might be needed to transition to a more mature future state should it be warranted.
As the saying goes, “If you fail to plan, you plan to fail.” A good quality risk management strategy and/or plan that clearly articulates how your business and different elements thereof are intending to uphold the fundamental principles of Risk Management whilst also meeting specific internal and external governance and assurance requirements is essential in defining and maintaining best practice risk management in different contexts.
The effectiveness of Risk Management is heavily dependent on those engaged in the process and the effectiveness of that engagement. optimise facilitators know exactly how to work within constraints and manage people dynamics to ensure that focus is maintained on achieving the desired outcome.
Analysing the variability, relative vulnerability and/or tolerance to different levels of uncertainty and risk, from both a cost and time perspective, provides a unique insight into how, where, when, why and to what extent uncertainty and risk might impact delivery of a project, programme or portfolio. Whether you are looking for ad-hoc risk modelling support (e.g. in preparation of a tender return, Business Case, optioneering/scenario analysis, etc.) or are interested in out-sourcing QRA, optimise can help.
Distinct from qualitative assessments QRA uncovers the specific areas of an estimate and/or schedule that are most susceptible to varying degrees of uncertainty and risk helping to prioritise and focus on the elements that truly matter. This more advanced method of assessment offers a vast amount of added value over qualitative assessments alone. Being a particular area of specialism, optimise is able to offer expert advice and support in all aspects of QRA practices and software.
An experienced facilitator that genuinely understands how to optimise the value from a limited time spent in a meeting or workshop is essential to the elicitation of quality information that forms the foundations of effectiveness Risk Management.
The effectiveness of Risk Management is heavily dependent on those engaged in the process and the effectiveness of that engagement. optimise facilitators know exactly how to work within constraints and manage people dynamics to ensure that focus is maintained on achieving the desired outcome.
Being able to offer a compelling case to secure contract award whilst not exposing your company and its key stakeholders to an unacceptable level of risk is essential in meeting internal governance and assurance arrangements. As such, understanding risk in context of the works information and form of contract (and thus implied liability) not only helps to develop a compliant return (i.e. a return that is not riddled with caveats, qualifications, exclusions, etc.) but also ensures that the balance of risk and reward is fully understood allowing more credible risk informed decisions to be made. optimise personnel are experienced in supporting bids/tenders, are conversant in a number of standard forms of contract and are adept at analysing works information and proposed contracts with risk & reward in mind.
An understanding of scope and associated challenges (i.e. key elements of uncertainty/risk) is one thing and is certainly a key element in responding to a Pre-Qualification Questionnaire (PQQ), Invitation To Tender (ITT) or Request For Quotation (RFQ). However, being able to demonstrate to both client and those empowered within your organization to authorise submission of the return (PQQ, ITT or RFQ) is something quite different.
Particularly within the public sector (but equally applicable to private sector investment justification) it’s essential that a compelling case be developed that articulates the business benefits associated with an investment decision. Given the inextricable link between meeting objectives and effective management of risk (the Risk & Reward relationship) it is essential to demonstrate a sound understanding of the challenges and how these are going to be addressed to increase confidence in the robustness of a Business Case.
optimise practitioners and consultants operating in the public sector are conversant with the Five Case Model approach for developing credible and robust business cases that align with HM Treasury, the Welsh Government and the UK Office of Government Commerce recommendation. Each element of the Business Case (Strategic, Economic, Commercial, Financial, Management) requires, to a greater of lesser extent, risk related input, ranging from an account of the major challenges and how these are to be embraced through to the level of contingency deemed appropriate to offer a reasonable degree of confidence in deliverability. Optimise is experienced in supporting the full life-cycle from the initial Strategic, through Outline and finally the Full Business Case.
With our experience of major capital projects all over the world we’re experts at managing the many moving parts involved in complex programmes.