Risk Analysis and Mitigation

Dealing with risk in a savvy and agile manner requires, on the one hand, thorough identification and analysis of all risks that stand to impact a project, and – on the other hand – the prioritisation of those risks, such that the primary focus is on those eventualities that are of material concern.

Conversely, the tendency exists for historic, hypothetical responses to risk and risk mitigation, as opposed to strategies based on real-world prioritisation and sensible, targeted allocation.

Practical, prioritised risk mitigation strategies result in fewer qualifications in bid documentation, with those contractual qualifications that are tabled having a higher chance of being deemed commercially acceptable.

This approach signals the likelihood of a contracting party focusing on genuinely relevant issues throughout the duration of a project, and to placing importance on maintaining a congenial commercial relationship.