Our special Risk Analysis is a method we have developed of quantifying undisclosed financial risks by determining the likelihood that a threat will occur and the consequences.
Risk = probability x consequence
The risk assessment is the first step in our risk management process. In early planning stages it is an indispensable part of a risk analysis to support and determine the financial feasibility. Defining the risks and uncertainty from experience can reduce the stress on the budget and put a value on the component parts that the risks represent. Projects are becoming more complex and compliance with endless regulations all have implications for time and budget. Thus, the challenge for example for inner city (re) developments are increasingly important and the additional responsibilities (and risks) to the executing parties all have implications. Noise, access,haulage, signage, public safety, local regulations all have a cost.
Internal and external risks
We divide risks into internal and external risks. Internal risks are the risks within an estimate only and estimates are always based on assumptions and results to which we always apply a certain bandwidth. Also a certain degree of development risk falls below or, if a PvE is being praised are particular influences of the architect ignored, but must as further detail or design risk in the overall plan will be budgeted. IGG displays in the risk assessment of these risks. External risks are the risks that the client or design no full control.
IGG is a specialist in the preparation and management of ‘good risk’ at every stage of the project.
The role of IGG herein is as an assessor of the potential risks, bringing in many aspects which are co-related and applying the underlying interaction to define the risk. To calculate the knock on effect on the feasibility and quality of the project IGG above uses several risk methodologies, such as the probabilistic estimation of risks.
When controlling risks we apply a pro-active attitude. Using a risk management tools developed by IGG we guide the client in a transparent fashion to indicate the risks and ensures a correct and pro-active way of making appropiate adjustments. At each stage we present the IGG ‘risk dashboard’ to indicate the current state of the risk.
Are you looking for a complete risk assessment or risk management? Please contact our IGG team, specialists with all the necessary expertise and experience to reduce the probability risk in environmental permit applications.