Risk Management

What we do

Our consultants can provide support with a range of project risk management processes including; Risk Reviews , Quantative Risk Analysis of Cost and Schedule Estimates, and guidance on how to utilise best practices in project risk management.

Our Risk Management portfolio at a glance

Expertise in detail

Prism Energy Risk Management consultants are experienced in various risk management disciplines. Explore below to learn how we can support your project teams.

Schedule Risk Analysis (SRA)

Schedule risk analysis is a process to help you fully understand your schedule. Include uncertainty and risks in your schedule to generate P10, P50 and P90 scenarios using Monte Carlo Analysis. Schedule Risk Analysis is beneficial for all types of projects and shutdowns/TARs. Our analysis will also provide you with information to help improve your chances of success.

HAZIDs

Projects of all sizes need to manage risks. We can help you with risk reviews focused on real risks & action plans. Our experienced consultants will help you focus on the objective of the project while lightening the load on the project team, enabling them to focus their efforts on the key risks.

Risk Procedures

Procedures are critical to help your project teams understand how they should be approaching risk management. Our team can build fit for purpose procedures that will save you time and improve the quality of your risk management.

Cost Risk Analysis (CRA)

Cost Risk Analyses are designed to help define your budgets and estimates. Define suitable contingency levels by including uncertainty and risks in your estimates. Understanding the potential ranges of your cost estimate enables you to define a suitable level of contingency, taking into account uncertainty and risk. Our analysis will also create tornado charts and distribution profiles to highlight the biggest impactors to the overall estimate.

HAZOPs

Most organisations focus on threats when discussing risks but that means they miss out the major benefits of opportunities to beat their target. Our consultants are experienced in the process of identifying opportunities.

Risk Workshops

Taking time to discuss risks with your team can yield significant benefits. Using an experienced risk facilitator elevates the process further. Our consultants are seasoned project and shutdown managers with hands-on experience in risk management. They leverage this expertise in every workshop, ensuring a sharp focus on what truly matters.

“We value the support being provided by Prism, it’s been a good and open working relationship. Prism played a critical part in successfully delivering this first phase of the project”