Interim Project Management, Risk Management

For most industry projects, factors outside the control of the project management team can delay the project and incur significant additional costs for the client. Formal risk analysis and risk management can help to minimise delays and additional costs.

The first stage of a risk analysis is to identify threats facing a project. In a project environment, threats can be from a wide variety of sources, but invariably fall into key categories, such as:

Disruption to supplies, equipment, materials etc
External weather, environmental and other factors
Failure of systems, procedures, controls and organisation
Cost over-runs, time over-runs, quality non-compliance, etc
Shortfall in availability of personnel, particularly key staff
Technical failure, design faults, errors and omissions

To establish the important threats, the above list can be used to define possible vulnerabilities, which can be examined and developed by the project manager and members of the project team.

Once the likely range and list of threats has been identified, it is useful to make the best estimate of the probability of each event occurring, and to factor this by the estimated amount it will cost to rectify matters, if the risk materialises. This will give a notional value of the risk for each event, which can be compared with other assessed values, from which priorities can be established.

A cost effective approach to risk management should be developed, bearing in mind that it may be better to accept the risk, rather than to use excessive resources to eliminate it. For instance:

Decide whether to bring in additional resources to counter the risk
Develop a contingency plan to minimise the effects of a particular occurrence, if it happens
Improve existing methods and systems, changes in responsibilities, controls, etc
Insure the risk, i.e. defray or offset part or all of the risk

Why Choose Redmayne?

Response

With access to many thousands of experienced candidates, we are well placed to respond quickly to client enquiries.
For both interim management and executive recruitment assignments, we will respond with a proposal for services within 48 hours and we will deliver initial cvs of potential candidates as soon as possible thereafter.
For interim management assignments, our associates are usually able to mobilise quickly and to deliver results rapidly.
For executive recruitment file search assignments, we can sometimes offer interim candidates who are available at short notice and who are prepared subsequently, to transfer to permanent staff.
For executive recruitment search and selection assignments, we will carefully review and schedule all activities to best achieve your preferred candidate start date.
All executive resourcing enquiries are handled personally by a Redmayne director, who is available to meet with clients and to maintain contact at all stages of the assignment.