Risk Management Challenges
You are surprised by increases in cost and schedule of your projects due to problems that “should” have been foreseen.
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- Project managers are missing “surprise” impactful conditions and events that are causing them to have to come to you and the customer to request more time or money or adjust the targets of the project; i.e. they missed risks that could/should have been seen
- Your customers become angry and mistrustful because they are being surprised by the unforeseen events that they say you and your team should have anticipated
- Your project managers are reluctant to surface risk conditions and events – fearful that they will be punished for bringing bad news to the table
- Your projects suffer from morale issues because of these unseen risks and the lack of a process to identify, capture and plan how to adjust the project plan accordingly.
Support & Consulting Services
Visible Stars helps organizations implement effective and efficient risk management. We believe that the benefits of risk management are directly related to:
- The quality of the risk information
- The robustness of the risk management processes
- The level of trust and confidence in the process
- Willingness of people to collaborate in identifying, characterizing and manage risks
We can help you set up the processes, tools and systems and culture you need in place to identify, analyze and help objectively manage and mitigate risks. The results are risk processes and information that you can rely on. And, we can help to ensure your project has the highest probability of success. Our risk management consulting services include:
- Assess Risk Management Maturity
- Advise project and organization leadership on risk management
- Design and set up risk management work-flow and procedures
- Create risk plans
- Train stakeholders, project managers, teams, risk managers, and your customers and subcontractors in all aspects of risk management
- Identify and Capture risks in risk register through risk workshops, one-on-one discussions, and modeling
- Assist with developing mitigation strategies and selecting preferred option(s) through cost-benefit analysis
- Perform Monte Carlo analysis of cost and schedule risk
- Manage risk reviews
- Implement risk management tools
- Train your teams in risk management tools
- Develop customized risk analysis to support investment decision making, customer reporting, public presentations, etc.
- Performing Risk Management Checkups
Operational Risk Management
Our Operational Risk Management software provides a comprehensive set of capabilities to establish risk management discipline.
Business Value Delivered
- Shorten the cycle time and costs of risk assessments to improve overall efficiency.
- Reduce losses and avoid adverse risk events through proactive control structures, forward looking risk visibility metrics, and analytics.
- Drive agility and risk-based decision making with access to data of the top risks confronting the organization.
- Establish a strong risk data governance and issue reporting framework with clear processes and lines of stakeholder accountability.
We assist clients with:
- Strengthening and aligning operational risk management frameworks with evolving business and regulatory demands
- Building and verifying operational risk capital calculation and allocation models to determine capital requirements to cover operational exposures
- Business requirements for operational risk management systems
- Operational risk measurement and analytics through applying risk quantification and attribution techniques (including quantitative risk assessment and scenario analysis)
- Project management or co-sourcing reviews of operational processes, people and systems.
IT Risk Management
One of the key challenges for security teams has been describing and managing security risks in the context of the business.
Value for Our Clients
We drive value by adopting a strategic approach to security planning and assessment and help design, integrate, and implement technology and security solutions:
- Assess how security governance and planning are aligned to support business and compliance requirements.
- Evaluate security prioritisation processes by analysing key program drivers and industry practices.
- Assess current security strategy and provide actionable recommendations to improve program sustainability.
- Leverage Visible Star’s SecurityATLAS toolset and overall security taxonomy including various capability and process models to evaluate security programs.
- Provide industry-related security benchmarks and metrics.
We assess and provide recommendations concerning key security domains:
- Security architecture/design
- Application security as well as architecture and code reviews
- Sensitive data protection
- Identity and access management solutions
- Integrated threat and vulnerability management solutions
- Mobile security strategy, analysis, design and assessment services
- Key security processes such as those supporting security communications and reporting
- Emerging technologies, such as Cloud Computing and Social Media
We help you to improve risk management and compliance activities by:
- Working with you to identify risk areas and recommend improvement options.
- Utilising proven methodologies and industry knowledge to identify security measures (people, processes and technology) and process standardisation opportunities.
- Assessing current compliance monitoring capabilities against established standards and policies to identify compliance gaps and continuous improvement opportunities.