Identifying vulnerable capital project practices empowers remediation, enables improved return on capital investment, and provides competitive advantages.

Project risks can originate during any project gate segment: preliminary project scoping and economic analysis, planning, site selection, contracting, design, procurement, construction or project commissioning.  Business risks occur during decision-making with scope, resources, budgets, schedules, execution plans, and more. These risks can result in adverse financial and reputation consequences to the company’s bottom line and to the individual decision-makers. Project risk drivers include the following practice areas:

• Operational
• Financial
• Compliance
• Organizational

Risk drivers often originate where accountability for results and implementation responsibility are separated. Blue Marble’s project risk analysis identifies opportunities for measurable bottom-line improvement. Our approach integrates financial, compliance, technical and organizational expertise to maximize project value and investment.

Blue Marble Value - Building on the extensive experience and technical expertise of our industry experts, we provide comprehensive examination and mitigation plans for our client’s project risks. Project risk analysis identifies opportunities for measurable bottom-line improvement by:

• Identifying unrecognized risks, formalizing metrics and enhancing services
• Understanding cash flows and cost drivers
• Defining, reducing and/or capping corporate reporting and environmental liabilities
• Integrating business objectives into Environmental Health & Safety activities
• Formalizing tracking processes
• Optimizing organizations based on business decision processes

We facilitate a Four Step Process to improve your business success.

Risk Assessment

Our analysis begins with an audit and benchmarking of our client’s operations, financial reporting, compliance, and/or organizational structure. The assessments are tailored towards our client and risk assessment needs.

• What management or project specific systems identify poor project performance?
• How is performance measured against goals?
• How high are confidence levels with current implementations?

By having our experienced project consultants perform the assessment, our clients benefit from the view of the independent third party who can focus on the issues at hand without organizational influences. Our risk analysis is thorough and includes the following types of outputs:

• Qualitative and quantitative impact determination
• Risk-ranking and impact analysis through risk categorization
• Risk-urgency assessments
• Risk-management planning, monitoring and reporting
• Risk modeling and simulation

Risk Mitigation Strategies

The project performance gap analysis identifies opportunities that create performance-enhancing changes through diverse pathways such as strategic capital management and protection of corporate managers and directors. The risk register identifies and quantifies the potential negative cost and schedule impacts to the project from different perspectives (project controls, scope, legal, environmental, etc.) We then work with the client to develop the risk mitigation plans, which are continuously updated during the project to identify new risks and review the earlier mitigation plans.

We work together with the client to develop strategies in areas, including:

• Industry best practice management audits
• Diagnostic program reviews
• Polices, procedures & system development
• Project management/change order risk programs

These strategies enable the organization to effectively determine its actions towards such things as pricing, transfer, reduction, avoidance and exploitation of risk.

Design & Implementation

The risk management strategies are incorporated into the fabric of project and operational organizations. We lead the design of the business process map and assist in the implementation of the risk management processes with training and technology integrations. Our goal is to reduce our clients' risk exposure while improving business effectiveness.

Monitor & Continuously Improve

By constantly monitoring risks, we help our clients successfully mitigate issues while positively impacting the project budget and schedule. During the project, the risk register is continuously updated to monitor the progress of existing actions plans, to promote timely team and individual accountability, and to identify new risks. Once new risks are identified, then the risk management cycle is repeated.

Learn about our Outsourced Project Executive Services