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Risk management

Good risk management can significantly enrich the project’s scope and success rate. Unfortunately, we often come across a pro forma risk management that can become a pretext for inaction, where real and dangerous risks are merely discussed, noted and accepted in a risk log, without proper action being taken. And that amounts to unintentional gambling with the entire project. We always seek to create good and proactive management of risks! 

Risk management is a necessary part of project management, regardless of the type of project. Risks come in all shapes and sizes, and thus they can also come in the shape of financial or operational risk management. Regardless of the type, risk management is all about identifying risks in the project portfolio and assessing, how these should be handled, in order for them to have as little impact on the project as possible, or seeing how they can be utilized as new possibilities. This can be anything from an acknowledgement of the risk’s existence to a full plan of action, describing what has to be done and by whom, when the chips are down. In this way you give your project the best possible conditions for achieving the desired effect.

Why is it important?

Typically, steering committees accept risks, which are either outside of their decision authority, or which are for other reasons considered something, they cannot control or influence. It may also be, that they believe a given risk to be beneath an unspoken triviality limit. This is a shame, because it is precisely under these circumstances, that one can use proactive risk management to create even better results. These can for example be: 

  • Increased success rate with projects  
  • A new and strengthened management style 
  • Anchoring of risk management and governance 

Lars muusmann

Lars Muusmann

Client Director

Tlf: 25 44 57 67

Our approach

At Peak we approach risk management with a foundation built on best practices. There are fundamentally 4 different ways to handle a given risk. The art is to identify which to use, at what time, and for what reason.  

Acceptance 

The risk is deemed to have little impact on the project or to be “out of reach”. Where the tendency is to ignore these, we proactively put in the effort to deal with them in our risk management.  

Planning 

The risk is very likely to impact the project, and a plan of action must therefore be devised.  

Prevention  

The risk is present but can be prevented by for example testing the solution frequently before the completion of the project. 

Minimizing consequences  

The risk cannot be avoided, but work can be done to contain its’ consequences.  

Results

Reorganization ensured better collaboration for The Danish Emergency Management Agency 

Get your risk management rolling with us

At Peak we can facilitate the change of attitude, anchor risk governance and train your organization to become more aware of, what to do about accepted risks. In this way, we can create a best practice together, take charge of processes and maturity and get peace of mind.  

M_O_R risikostyring

We are certified in best practice risk management

As one of The Nordic countries’ highest certified consultancies, we naturally have our best practices in order. Both when we are out advising our customers, but also, if our customers request competency development within risk management. Therefore, we also offer M_o_R® courses (management of risk), so employees at your organization can get their competencies in order.   

Related services

Related courses

it service management
Styregruppe
M_o_R Foundation
Risikostyring
Projektledelse for forskere

Feel free to reach out:

info@peakconsulting.dk | Tlf: +45 3526 2880

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