IRIS has helped to manage risks in a vast array of public and private sector organizations, from large multinationals in the S&P 500 through to locally based SMEs. Our consultants have gained huge experience throughout a wide range of industries including aerospace & defense, infrastructure, transport, energy & utilities, construction, IT, communications and oil and gas.
Help and Support Tailored to your Needs
IRIS Intelligence provides organizations with comprehensive and wide-ranging risk management consultancy aimed directly at the attainment of corporate goals and objectives and improving the ‘bottom-line’. Our assignments are, of course, always tailored to specific client needs. However, we set out below some of the assignments we find clients regularly need help with:
Organizational Risk Assessment
Companies and government sector organizations ask IRIS to carry out an Organizational Risk Assessment (ORA) to assess the overall risk impacting the organization. We assess factors such as the nature of the industry, the company’s own competitive position, management strengths and weaknesses, emerging trends and the effectiveness of the project portfolio (see below) in order to determine the overall risk profile of the organization.
Risk Maturity Analysis
Simply put, a Risk Maturity Analysis (RMA) assesses the possibility that the organization’s risk management itself is under-performing. We assess the current state of the organization’s risk management capability in terms of its core processes, organisational and decision-making structures, people, tools and overall culture These are then assessed in the light of the organizations’ target maturity model and specific actions are drawn up and implemented to address the gaps.
Using the Expert Edition of our software product, we are able to rapidly understand and quantify the financial benefits of implementing risk mitigating actions in terms of the reduction in risk exposure that they will deliver. Running the Monte Carlo simulation embedded within the tool, IRIS immediately generates 1000+ iterations of the scenario and calculates risk exposure. This analysis enables teams to develop an understanding of their risk exposure in a variety of ways, including prioritizing activity according to the Absolute Risk Exposure Reduction.
Under this type of engagement, our team will assess the key risks racing a Program, using similar techniques to those outlined in an ORA. We also assess the appropriateness of key Program assumptions and the extent to which the Program fulfils the key strategic objectives of the organizations. Under a portfolio analysis, our consultants will look at the risks to the project portfolio as a whole, including poor alignment, duplications, omission or conflict of the projects. Again, once caps are identified, a structured set of actions are developed to address them.
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