Page 15

MMA believes that, while Project Risk Management (PRM) is effective throughout the

project lifecycle, it has its greatest impact prior to the commitment to the project being made.

(Commitment can take the form of contract signature, following your bid for a customer's project,

or the go-ahead given by your organisation on the basis of the plans you have prepared for an

in-house project.) It is at this stage that all the options are open for pursuing

the project differently - or not at all, if the risks are too great. However, our

philosophy is that risk should be seen as an opportunity for profit: profit comes

not from avoiding risk but from managing it effectively.

MMA can support your bid/planning work, establishing:

• A clear view of what are the risks and the priorities among them.

• What action can be taken to mitigate the risks, including through radical action to "do the

project differently".

• What this means in terms of establishing project plans that will address the risk.

• What this means in terms of project objectives that are realistically achievable (and, hence,

prudent to commitment - and what caveats should be sought).

• What are the risk/cost/time trade-offs between different options for your proposals.

• How much contingency should be held to cater for the risk (also providing evidence of why

you need it).

• How your project's processes should embrace risk management.

The help we can offer can range in intensity from a full investigation, resulting in a rigorously

documented risk register (reviewed and confirmed with your project's people, and complete

with action plans to address the risk) and establishment of quantitative models of potental risk

impact on cost/time/etc, to a simple discussion of the factors you need to consider in addressing

your own risk management planning.