Risk Management: How do you manage risk?
Bidwells' approach to managing 'risk' is based upon Risk Analysis and Management for Projects (RAMP) which is a systematic approach to the identification, evaluation and effective management of risks for projects. Bidwells Project Managers adopt this strategy for all projects.
The RAMP process focuses on the need to embrace and manage uncertainty, requiring all parties, led by the Project Manager, to work together to examine risks as a source of both opportunity and threat to the successful achievement of project and business objectives alike.
The intention of RAMP is to assist in reducing risk exposure through better information and more effective management action, which in turn will lead to better decisions being made and will give greater confidence to the client and other members of the project team.
As part of the Project Managers, remit a Risk Management Plan / Register will be created and incorporated into a Project Execution Plan as an ‘addendum’ plan and is a formal record of the approach to risk management that can be used as a beneficial tool by all parties throughout the life of the project. The Risk Register can also be colour coded on a traffic light system to enhance the usability of the document.
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