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 so tenders are assessed objectively enabling early decisions to be made about the best opportunities for your business.
  • Undertake detailed risk assessments of tenders using RiskOrganizer.
  • Assess the costs of carrying risks, develop contingencies and understand the affect of risk mitigation strategies using RiskIntegrator.
  • Improve subcontracting arrangements based on appropriate risk sharing strategies.
  • Manage your 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. These processes may be readily integrated with those that apply to Contracts.

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 notification of a new blog posting, please complete our request form.