Risk and Issue Management at Ardent Principles
Risk and issue management involves a systematic, iterative process of identifying, analyzing, and mitigating risks so that project objectives may be achieved. Risk management is a forward-looking process that provides teams with the tools to be proactive rather than reactive in managing potential or real threats to their projects. The objective of risk management is to implement practices that will inform decision-making, optimize resources, and prevent cost, schedule, scope, and technical performance risks from becoming issues that can adversely affect a project.
THE ARDENT PRINCIPLES APPROACH
Risk is an uncertain event that can have a negative effect on a project’s objectives. While all projects have risks, the ultimate success of a project depends on properly identifying, managing, and mitigating risks and uncertainty. At Ardent Principles, we use best practices as both the basis for and the guide to project risk and issue management.
We employ a disciplined approach that allows us to:
- Continuously identify potential roadblocks to a project’s successful completion
- Determine the priority and impact of identified risks and issues
- Implement strategies to mitigate and manage risks
- Share information about risks and issues across the enterprise using an automated system
Because preparing for risk is one of the only ways to reduce its impact, Ardent Principles helps each client identify their options for mitigation and pre-plan their strategy, which serves to lessen the potential impact on a project’s budget, schedule, and performance.
Our mitigation planning capabilities include:
- Investigating root causes of a potential risk
- Determining which project workstreams would be affected
- Brainstorming options for mitigation
- Assessing each mitigation option in terms of impact to cost, schedule, and performance
- Choosing the best mitigation plan to protect the client’s identified goals
- Developing detailed steps for the selected mitigation plan
- Assigning estimated completion dates and responsibilities for each step
- Documenting mitigation actions in the Integrated Master Schedule
