Risk Management Services
Keep Your Organization Moving Forward
Every company faces risks and opportunities that affect the achievement of financial goals. Risks arise from several sources, including:
- Market dynamics and uncertainties
- Project challenges throughout the development process
- Legal liabilities
- Credit availability
- Natural events
- Competitive activities
Developing strategies to mitigate threats or maximize opportunities is an essential element of risk management. The Vantage Consulting team provides you with a comprehensive roadmap to navigate risks effectively.
Vantage Consulting Risk Management Services
The risk management experts at Vantage will help you develop a framework that includes strategies and action plans for responding to threats and opportunities.
Action Plans for Threats | Action Plans for Opportunities |
Avoidance | Leverage |
Reducing negative effects | Maximize positive impact |
Transfer some or all of the threat | Capture some or all of an opportunity |
Manage any or all consequences | Incorporate any or all benefits |
Our straightforward approach follows the Project Management Body of Knowledge (PMBoK) and includes the following steps:
01
Plan Risk Management to define how to conduct risk management activities
02
Identify Risks at the individual project and macro source level
03
Perform Qualitative Risk Analysis to prioritize project risks according to the probability of occurrence and impact
04
Perform Quantitative Risk Analysis to calculate the financial consequences of the risks
05
Plan Risk Responses to articulate appropriate strategies and actions
06
Implement Risk Responses using the approved response plans
07
Monitor Risks during and after implementation of the responses
The Vantage team will also use the Committee of Sponsoring Organizations of the Treadway Commission Enterprise Risk Management system (COSO ERM) for risk management.
Benefits of Risk Management Support from Vantage
Partnering with Vantage Consulting on your Risk Management initiatives ensures you:
- Create value by mitigating risk or maximizing opportunities
- Explicitly address uncertainty with systematized and structured organizational processes
- Have a dynamic, agile, strategic plan customized to your company’s needs
- Are transparent and inclusive when evaluating threats and opportunities
- Have a process to assess and optimize your risk management approach
Let’s discuss your goals for risk management in your organization.
Call the Vantage Consulting team today at (412) 780-7784 or submit your message using the form below.