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RISK MANAGEMENT 

Risk has been undertaken since the dawn of civilization. Managing risks has also been integral to the decision making process at all points of time. It has been intuitive, judgmental, limited to the sensitivity to risk developed by the person taking the decision, in businesses also on his experience, business acumen but largely informal. It has been largely seen as 'protecting' against any adverse situation happening and it is this aspect which is largely an integral part of the belief of the large majority. We feel that as risk is associated with decision making, it can lead to a favorable or unfavorable outcome and therefore there is also an opportunity to be considered while looking at Risk Management - not just a threat.

As economies have grown, so have the business sizes and markets and today with improvements in telecommunications and logistics, barriers of borders are breaking. With reducing protectionism due to free trade activism, the markets worldwide are opening up. In this scenario, a 'limited' view of risk by 'a' decision maker can expose an organisation to a wider spectrum of threats hitherto not visualized. There is a need to move towards a 'collective' view of risk, which could then be vetted by the richer experience of the Top Management. WHAT IS NEEDED TODAY IS A RISK "THINKING" CULTURE IN ORGANISATIONS AS RISK NEVER SLEEPS!

We have a strategic tie-up in the area of Project Risk Management with Broadleaf, one of the leading companies in this area and based in Australia.

Our Risk Management Consultants seek to guide organisations through the entire Risk Management System Life Cycle. From introducing Risk Management as a concept to establishing structures that identifies relevant criteria within the specific strategic, organizational and risk management contexts of the organisation, identifies risks, assesses - analyses and evaluates risk, prioritises actions based on the risk effects - a factor of consequence and likelihood of the risk incidents and continuously monitors and communicates on risk in the organisation.

We have adopted the Australia/New Zealand Risk Management Standard - AS/NZS 4360:1999 as the framework for structuring Risk Management systems in organisations.

Each situation is different and we pride ourselves on adjusting what we do to suit your needs. This might be as simple as selecting the right combination of methods to match your requirements and increasing or decreasing the scale of an exercise compared to what we normally do. From time to time we work with clients to devise a new method to satisfy a special requirement and have shown we can do this successfully. Our consultants have worked with some of the authors of the Risk Management Standard in the E&P sector in the Middle East.

We assist organisations to build up business models that capture the risk profile of the entire business operations with a view from the top and a consistent and regular system of model updation and risk reporting to the board.