Wrench Solutions - Project Management Information System
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Risk Management

Project Risks are captured, classified, and mitigation actions monitored and reported for timely actions that reduce impact of risks on project cost and schedule.

Risk Management capabilities

VIEW BENEFITS

Project Risks are captured, classified, and mitigation actions monitored and reported for timely actions to reduce the impact of the risk on the project cost and schedule.

“Before implementing SmartProject more than 70% of our projects used to get delayed. Now no project gets delayed as SmartProject's early warning system helps us take corrective action in time.”

F.R. Singhvi, Joint MD, Sansera Engineering

Client
5 %
Risk Visibility
90 %
Monitor Risk Impact

*Based on customer feedback

0 x8
Probability Impact Matrix

Risk Identification

List potential risks in the Risk Register of all project activities, at the project or deliverable level, and identify the mitigation plan for each.

Customized Classification

Define custom risk types. Grade severity of each risk based on its likelihood and potential impact on project goals.

Monitor & Review

Monitor and review identified risks before they can escalate.

Risk Mitigation

Create risk mitigation plans and action points in the Risk Register and delegate them to your team to ensure each risk is fully mitigated.

Engineering & Construction Risk Management Features

Risk-definitions from 'Risk Master'
Manage Risks linked to Schedule, Cost and Quality
Risk Identification in Risk Register
Predicted Impact of Risks on Project Goals
Monitor and Review Risks
Risk Response and Mitigation
Risk Analysis with Heatmap
Probability and Impact of Occurrence
Existing and Residual Risk
Analysis of Worst Case, Net and Future Risk

Additional Resources

Resource

Case Study

L&T Construction - MMH is India's leading turnkey EPC solution provider of metallurgical projects.

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Resource

White Paper

Thought Leadership: Post-Pandemic Workforce Transformation Potential in the Engineering Consulting Industry

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Resource

Blog

Why can’t the technology alone stop construction project delays: The importance of Project Monitoring in the EPC industry

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Additional Resoures

Resource

Case Study: Reliance

The case explores how Reliance used SmartProject as an end-to-end fully integrated project performance monitoring system.

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Resource

Case Study: CBRE

The case shares how CBRE used SmartProject to manage projects, generate management dashboards and ensure process compliance.

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Resource

Can IT de-risk projects?

The role of IT in EPC is vastly misunderstood!. IT is a set of tools, that you do not currently have, to get you where you want to go.

Read More

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  • Risk Management
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