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risk monitoring

ResoLex helps identify the areas of possible risk on the project that need to be monitored. We separate risk into two distinct groups; project wide “soft risks” and technical risks.

Use RADAR for your risk monitoring
The assessment and management of risk is commonly recognised as a critical part of any Project Execution Plan. The problem, however, is that risk concerns a potential future event, but most project teams prefer to focus on the issues requiring immediate attention. The creation and maintenance of a typical risk register can therefore become little more than a notional exercise which has little influence on the teams planning. Our approach to risk is therefore highly practical, by providing teams with continually refreshed data on the key project risks.

It is worth remembering that the greatest risk to project success is posed through human interaction (or the lack of it). Major projects require the interaction of many people, and as such are prone to the challenges of flawed assumptions, miscommunication and errors of judgement.

Use RADAR for your risk monitoring
Soft Risks

These are apparent on all projects and run throughout the lifecycle of the project. These are primarily generated by the fact that any project is delivered by human beings. The enormous impact that personalities can have on delivery strategies and project plans should never be underestimated.

Typical risk areas identified revolve around:

  • Communication
  • Decision Making
  • Team Working
Technical Risks

The technical risks are often identified in the project risk register. Current best practice project management recognises that compilation of a project risk register faces two challenges:

  • Effectively engaging with those involved with the project who have vital information that affects the risk identification and risk evaluation.

  • Capturing the information in an environment that is safe to the person providing the information.

ResoLex facilitates the collection and validation of risk information and does this in a way that reports anonymously.

The ResoLex approach generates intelligence about technical risks that are on the risk register and soft risks that are not. This information is extremely difficult to obtain through traditional project management techniques – however good these are.

A systemic approach

There is a tendency for project teams to live within a bubble where the focus of the project is solely within the project itself, often ignoring the impact of the wider environment. We advocate a systemic approach to the understanding of risk. This involves taking a wider perspective of the operational and organisational cultures which will have an influence on team behaviours. Our process also helps the team understand the project’s own system, and the extent that it is able to react to unexpected events.

Impressed? We’d love to work with you!