Project and Programme Risk Management

Risk Management is the discipline of identifying, quantifying, responding to, and controlling the risks in a project, programme or business. Managing risk is an integral part of good strategic, operational, project and programme management, and is critical to successful delivery.

 

VEGA’s approach to project and programme risk management

VEGA provides best of breed risk management experts with domain experience, knowledge of best practice, and access to the tried and tested VEGA risk management processes. We will carefully engage stakeholders and apply risk management in the most appropriate way for an individual project or programme, in order to enable proactive and effective risk reduction.

 

Some of the key benefits of using VEGA to support your risk management strategy are:

 

  • Enhanced stakeholder involvement
  • Reduced exposure to risk
  • Increased probability of project success.
  • Increased likelihood of the project delivering on time
  • Prevent problems from occurring, or if they do, from escalating.
  • Fewer project variances from baseline
  • Minimise the frequency of surprises and problems
  • Reduces need for crisis management
  • Enable correct and successful delivery first time
  • Improved management decision making based appropriate risk information

 

What are VEGA’s Risk Management capabilities?

VEGA has a wealth of risk management consultants who have supported customers across government and defence. VEGA provides frameworks to support risk management within strategic, programme, project or operational areas of an organisation, defining the necessary activities for identification, analysis, and control of risks which affect business outcomes and benefits.

 

VEGA’s breadth of risk management knowledge includes:

 

  • Risk related standards and methodologies including M_o_R, OGC Gateway Review, PRINCE2, MSP, AMP Body of Knowledge, HM Treasury Orange Book , MOD AOF Guidance and MOD JSP525.
  • Experience of market leading risk management and analysis tools, such as ARM, PREDICT! and PERTMASTER, together with integration with MS Project and other plan tools.
  • Specialist risk management techniques, including three point estimation, Monte Carlo statistical analysis, risk identification workshops, and fault tree analysis.

 

VEGA’s risk management services include:

 

  • Initiation of Risk Management Processes – creating a risk management strategy, a risk management plan, and initial risk register to suit the project or programme environment. We work with stakeholders to introduce risk management processes into the organisation and implement initial risk capture exercises.
  • Risk Health-check – reviewing project or programme risk management processes and current risks, working with stakeholders to improve processes and reduce overall risk exposure in the organisation.
  • Risk Manager – providing a qualified risk management professional to support the risk management process and improve risk exposure in a project or programme.

 

Additionally, to supplement the core risk management activities, VEGA offers portfolio management as a related value proposition. This involves synergising the disciplines of project planning and project risk management, to provide effective programme reporting procedures to improve decision making and delivery.

 

Contact VEGA for more information about Project and Programme Risk Management