Project+risk+management

Effective project management demands rapid decisions about uncertain future events based on often inadequate information. Failure to manage the right variables at the right time during the project may result in project overruns, delays and poor delivery. Project risk management seeks to anticipate the development of projects and implement suitable responses early enough to positively influence the outcome. DNV helps clients manage project risks through the delivery of advanced project risk management services.

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Purpose

PRM proactively identifies issues that may influence your projects success. This greater risk awareness creates confidence for all stakeholders.

Benefits

Using our global industry experience, DNV works with you to assess project issues, select and apply appropriate PRM solutions to improve project performance, and provide stakeholder confidence. We will provide:

  • Solutions designed to meet the specific concerns of clients and stakeholders
  • Increased confidence in ability to deliver the project according to the plan
  • Increased availability of information required for the development of contingencies if necessary.

Our approach

When working with client teams to manage project risks, activities typically include:

  • Gaining a working knowledge of the project, its participants and the challenges it faces. We work with the client to determine the key variables that drive project risks.
  • Leading the project team through a process to identify and characterise the project risks, and to establish suitable measures to manage them.
  • Analysing the project and the risk contributors to determine key threats to the project and how to manage these threats.
  • Formally defining the performance expectations of the risk management measures and assigning actions to maintain standards throughout the project.
  • Actively monitoring how the parties involved in the project manage risks by tracking the action plans. This hastens actions to correct errors and ensures that the project responds appropriately to changing circumstances.
  • Collecting data on the risk management activities and rapidly informing the project manager of any major concerns. We also advise the project manager on any opportunities for improvement that have been identified.

Typical services include:

  • Cost and schedule risk assessments
  • Project risk management implementation
  • Project risk management tools
  • Project risk management training.