Contractors
If you’re a contractor risk management is key to the successful outcome of a contract.
Recent research in the UK has found that 57% of contractors regularly declined tenders due to a lack of confidence in managing high risks OR added a too large contingency and lost the job as a result (refer Professor Loosemore presentation to AIPM & CIOB March 2006)
Risk management starts from the moment you consider whether to submit a tender.
RiskTools can help you to:
- Develop an integrated risk management process that can be consistently applied across all tenders and contracts.
- Assess whether to submit a tender, ensure that organization specific criteria are addressed and make early decisions about the best opportunities for your business.
- Ascertain the cost of carrying risks using RiskValuer) and developing risk mitigation measures.
- Improve subcontracting arrangements based on appropriate risk sharing strategies.
- Manage risks during a contract and assess the cost of unresolved issues using IssuesValuer.
- Plan and manage safety issues
In addition risk management also applies to internal business processes (link to corporate risk management). These processes may be readily integrated with those that apply to Contracts.
You can calculate the return on investment for purchasing RiskOrganizer for you business here.
Getting started
RiskTools’ team of international consultants are available to help you navigate this process. If you would like a free, no obligation proposal or a copy of our newsletter, please complete our request form.