Project Risk Management

iStock_000013693549X_w250SHAAR has extensive experience in the set up and implementation of project risk management systems, and in their day-to-day operation throughout the project life cycle.

The process commences with the adaptation of generic methodologies to the organizational environment, its processes and needs. The process continues with the selection and implementation of relevant tools to support the risk management process.

Leading the effort of successfully mapping, identifying and assessing project risk requires many years of project management experience as well as a systemic perspective, something that SHAAR’s team possesses in abundance and does on all our projects.

The same approach applies to the phases that follow: the planning of risk treatment and mitigation activities, and the subsequent risk monitoring and control, throughout the project’s life cycle, including reporting and escalation routines.

SHAAR has extensive experience in analysis and assessment of risks in both the qualitative and quantitative methods, inclusive of running Monte Carlo simulations and conducting Qualitative Risk Analysis [QRA] to receive the aggregated Expected Monetary Value [EMV] of project risks, as an advanced decision support tool.

The services described above are conducted in compliance with PMI’s risk management methodology, and on the basis of the international risk management standard – ISO 31000:2009. We also follow the directives of the Code of Practice of the International Tunneling Insurance Group [ITIG CoP].