Risk Management
Procon analyzes an organization’s existing risk management policies and procedures, defined roles and responsibilities, and specific risk tolerances in order to develop a risk management plan. Procon’s risk management plan includes a comprehensive Work Breakdown Structure (WBS) and Risk Breakdown Structure (RBS) based on the project’s Statement of Work, thereby allowing project components to be monitored and managed. Our risk management services include the following:
Risk Identification
After identifying potential risks to our client’s program or project, Procon pinpoints risks related to the Project Charter, WBS, Product Description, Schedule Estimates, Cost Estimates, Resource Plan, and Procurement Plan as well as any underlying constraints and assumptions.
Qualitative Risk Analysis (Risk Rankings, Prioritize Risks)
Procon assists our clients with assessing the impact and likelihood of identified risks. We provide our clients with the necessary expertise to analyze the impact the identified risks may have on their projects. Additionally, we use our past project experience to calculate the likelihood that these risks will occur. Once we have identified the risk’s impacts and the probability they will occur, we can prioritize the risks.
Quantitative Risk Analysis
Procon gives our clients the probability of finishing a project by a certain date or within a specified budget. We use the client’s existing scheduling and budget tools to develop three-point estimates and insert them into the necessary risk software. Using software packages, such as Pertmaster and Risk Plus, we generate reports and charts to show the percentages of finishing by a particular date.
Risk Monitoring and Control
Procon works with our clients to develop risk thresholds to monitor and control risks. We develop mitigation strategies in the event that any of the risks arise, which save the client time and money. Procon provides customized risk reports that provide visibility into potential issues or problems.