Risk Management

Risk Management 2016-12-05T11:01:30+00:00

netlogx will work with the customer to ensure effective and efficient Risk Management. This is best done by working with a client team to ensure that there is knowledge transfer as the work progresses. netlogx follows the following iterative Risk Management Methodology:

Risk Management Planning – This is the process of determining the best way to proceed, which stakeholders need to be involved in the process, when and how often the risk management tasks will be conducted.

Risk Identification – This is the process of thoroughly analyzing all the potential risks and opportunities across all risk categories. A full understanding of each of the risks is developed.

Qualitative Risk Analysis – This is the process of determining which risks will need to be responded to. There will be a subjective evaluation of probability and impact, which will then lead to identification of critical risks which need to be further addressed. This analysis leads to an initial go/no go decision being made on the project or program.

Quantitative Risk Analysis – This is the process of determining the extent of risk, and identifying exactly where to deploy time, effort and other resources to manage the risk. There is also a determination as to the overall risk verses benefit of the project or program.

Risk Response Planning – This is the process of determining exactly what can be done to reduce the probability and impact of risk, as well as increasing the probability and gain from opportunities.

Risk Monitoring and Control – This is the process of implementing the risk response plan and managing progress and compliance. The plan will then need to be refined and updated as additional risk identification, qualitative and quantitative analysis and risk response planning is carried out.

Benefits

The customer will be using an industry standard approach to carry out Risk Management. netlogx consultants will ensure that the process is effective and efficient and there is substantial knowledge transfer to the client team. The engagement will pay for itself through the elimination of costly risks and the successful exploitation of opportunities that arise.