Delivering on-time, on-budget projects that meet the customer’s requirements
For project-driven organizations, projects are king. They are the lifeblood of the company and all revenue is earned from their success. Many factors influence project performance, including schedules, resources and funding. But one factor stands out above all others that makes the difference between success and failure – risk.
At its core, Project Risk Management is the identification, analysis and control of potential threats that can impact the project. Because projects often involve many parties inside and outside your organization, the question becomes “How can you proactively control and mitigate a threat if you don’t know about it?” Each group within a project typically maintains a list of project risks and mitigation actions on their own spreadsheet, making it impossible to prioritize resources on the biggest risks that could derail a project. There is a better way.
Active Risk Manager (ARM) centralizes all risk information through an easy-to-use, web-based application, helping to reduce information silos and improve decision-making. ARM is the defacto standard for managing both risks and opportunities in projects and programs of all sizes. ARM is also the most proven project risk management software solution in use today by NASA, Lockheed Martin, Northrop Grumman, Rio Tinto and several of the world’s largest EPC contractors.
Top capabilities for project risk management include:
- Centralized risk register that eliminates disconnected spreadsheets
- Built-in accountability management clearly assigns mitigation actions and timeframes increasing an organization’s risk-bearing capacity
- Executive dashboards with key performance indicators deliver visibility to high priority risks that could impact project cost, schedule or technical performance
- Automated alerts engine that notifies project managers early to avoid surprises
- Workflow management that guides each risk through its lifecycle ensuring that nothing falls through the cracks
Whether you are building the world’s next air superiority jet, a liquefied natural gas production plant or the next generation air traffic control system, managing project risk is critical to delivering a successful project. ARM means you’ll deliver more projects on-time, on-budget and win more business as a result.