Opportunity & Risk Management

Opportunity & Risk Management

Risk Management Systems

EPConsult Energies has extensive experience in opportunities and risk management and can assist your company in setting up or updating a risk management system - as well as performing risk assessment.

See below EPRisk Tool Demonstration

A risk management system requires: 

  • Policy statement approved by the board of directors;
  • Risk management manual;
  • Risk management tool.

Epen has the expertise to provide consultancy and implementation in the following areas: 

  • Facilitating risk workshops;

  • Establishing the initial risks register;

  • Drafting the corporate risk policy;

  • Preparing the corporate risk manual;

  • Customising the risk tool;

  • Training personnel in the principles of risk management;

  • Organising a risk awareness campaign.

Risk management consists of the following main steps:

  • Identify risk;

  • Assess the risk (using a three stage approach);

  • Assign mitigation actions;

  • Monitor mitigation actions;

  • Re-assess risks regularly.

A key aspect of the risk management system is the fostering of a culture of risk awareness throughout the organisation. This is very important since it can be very easy to hold a risk workshop only to have everyone return to their day-to-day jobs without further attention to the risk management system. So it is essential that actions raised in the workshop are carried out in a timely manner and followed through to completion. Also, everyone in the organisation must be risk aware and any risks identified outside the workshop environment must be recorded and processed without waiting for another risk workshop to be held.

As well as being very efficient at identifying risks, workshops encourage involvement and ownership in the entire risk management process. By following a structured process, each risk is considered objectively so that it can then be ranked and prioritised. The advantages of risk workshops include:

  • Identification, assessment, prioritisation and embedment of Risk Management;

  • Meeting best practice;

  • Seeking to identify opportunities as well as risks;

  • Encouraging management discussion and facilitating clarity on risks;

  • Facilitating 100% participation;

  • Seeking to create awareness, education, compliance and embedding of RM;

  • Allocating ownership of potential hazards and ensuring an ongoing Risk Management process.

EPRisk - our proprietary software

We use proprietary software, EPRisk, to collect the data during the workshop and to generate the risk register. Key features of EPRisk are:

  • Ease of use

  • Intuitive interface

  • Comprehensive suite of reports

  • Flexibility

  • Many user-defined functions

  • Three stage Risk Assessment Evaluation

  • History tracking

 

 

Have questions? Call us +44 (0) 20 7582 5555