Email us now: info@activerisk.com
When embarking on projects or major pieces of work it is prudent to put aside a contingency amount to cover unexpected events. The more information you have, the more accurate the contingency or provision figure can be. ARM removes the need for guess work, fixed percentages or reliance on backwards looking data.
ARM provides qualitative and quantitative views of risks and so a ‘monetized’ picture can be built up. ARM’s management of the risks means controls, mitigation plans and fallbacks can be put in place to reduce the chance the risk will happen and minimize the impact should it occur.
The risk knowledge in ARM will not only make the provisions match the real risk levels but also show the likely time impacts. You can now forecast the timeline of draw downs against the provisions. This accuracy will let you see risks which might not impact until much later in the project. This knowledge gives you the confidence to free up the budget so that it can be used in ways which will deliver a much higher ROI.
