Risk in today's large projects is critically under-managed throughout the project life cycle and is not sufficiently accounted for in planning - you need to start planning Risk Allocations right from the bidding stage. WRENCH SmartProject understands the importance of alleviating risks and helps you anticipate and minimize risk effectively.
Risks ebb and flow as a project progresses and your risk management strategies need to react accordingly, starting with classifying all risks from all sources, including contracts, scope, change orders, vendor, T&Cs etc. Not all Risks can be identified or captured during the bid stage but as the project enters phases like regulatory approvals, vendor & supplier contracts and so on, new risks crop up and must be dealt with quickly. SmartProject helps you do this by providing reliable and accurate information in real time throughout the project life cycle
Record the risks involved in executing a large capital project and create actionable insight by measuring the probability and severity of risks on the project.
Create Action Plans on the Mitigation Register, record the change of impact due to negotiated agreements
A single window to the dashboard provides quick insight into prioritized risks for management attention