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Tenders & Proposals

Risk & Opportunity Evaluation

As every Project is unique, there will always be a degree of risk associated with performing a scope of work. 

These risks can impact the project in one or more of the following areas;

  1. Cost

  2. Schedule

  3. Health, Safety & Environment

  4. Quality

  5. Business Reputation

The purpose of a risk and opportunity workshop is to identify at the tender stage the events and activities that are considered a specific risk to the project and to identify solutions to mitigate the risk by applying one of the following strategies;

  1. Terminate

  2. Treat

  3. Transfer

  4. Tolerate

The Risk & Opportunity workshop will identify the following;

  1. The Risk

  2. Mitigation Strategy

  3. Impact to cost, schedule etc

  4. Severity of the Impact

  5. Probability of occurrence

  6. Manageability

  7. Residual Risk Score

The cost of the Risks;

It is then possible to calculate a value to those risks that remain, with the estimated cost being incorporated into the project estimate.

Monarch Consulting can facilitate Risk & Opportunity Workshops and develop a Risk Register for use by the project throughout its life cycle.

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