Why De-RISK risk management?

So why is risk management so important?

In this complex world, business is often done at sub-optimal levels. Complexity inevitably leads to risks and when these risks are realised as problems they will cost you time, money, reputation, future business and maybe even your job.

Mountaineers know how to manage risk. They don’t climb beyond their abilities without taking all the necessary safety measures, like a rope for example. So why do businesses often try to undertake new ventures, using new technology, on a scale never attempted before without a rope?

 

Risk is inherent in every venture but it is inevitably high when you are pushing the limits. Risk is also entrepreneurial. If you don’t take enough risks in business you will not reap the rewards. However, if you do not manage those same risks effectively, the rewards will not materialise. Success comes through de-risking your ventures in a pro-active, ongoing way.

Be sure to take a look at some of our case studies to see the level of positive impact risk management can have.

Infographic

Complex businesses are inherently inefficient

  • Less than 20% of all significant projects meet their original timescales, budget and/or objectives.
  • Millions of pounds are lost through inefficient business processes that are easily fixable if you know where to look
  • Companies are literally going out of business as they watch their strategy crumble before their eyes and markets shift direction

 

All of the above are complicated, if not caused by dysfunctional relationships between management and their teams and are avoidable for an investment of just a tiny fraction of their potential impact.

For example, take a project of 30 people with an average daily resource cost of $400. For every day that project is delayed the budget will take a hit of $12,000. For every week of delay the cost goes up to $60,000 and a month will cost an extra $240,000.

This does not take account of lost benefits, customer dissatisfaction and loss of reputation which may cost future business, and projects of this size are often many months late.

 

The final real figure could amount to losses of many millions.

We de-risk your business by combining the latest high-value management consulting techniques with NLP (Neuro-Linguistic Programming). This powerful toolset has already delivered massive benefits to a wide cross-section of clients across the world.

Delivering on clear objectives

Clearly we cannot guarantee that you meet all your objectives – too many factors will be beyond our control. What we can guarantee is to meet an agreed set of objectives – and if we don’t deliver, you pay nothing. For example, you could specify our objectives in many ways, for example:

 

  • Identifying critical risks that had been unidentified up to now
  • Setting up an effective Risk Management Governance process
  • Stopping the business committing to unachievable objectives
  • Ensuring that the strategy is sound in the current business environment
  • Acquiring a new competency in risk management for the future

…and ultimately you are liable to actually meet your declared objectives, on time and within budget.

 

In other words, you have nothing to lose by engaging us and everything to gain.

And we don’t hang around! For example a cost or timescale QBC assessment could be completed in 2-3 days. Our mission is to add the maximum amount of value in the shortest time frame, transfer the essential knowledge and capabilities to your people and then move on. However, we are always available for ongoing coaching and support – both face-to-face and online.

Would you like to know more about risk management?

We are confident that just an initial call will provide enough information to create a new outlook regarding the impact of risk management on your business.