Risk Management

Projects are subject to risks and chances, which have to be identified and evaluated at all times.

From the outset, it is essential to identify, assess, and define how to handle these aspects. In the early project phases, ITECS provides support with stakeholder analysis and the assessment of project feasibility. Furthermore, potential risks are identified and evaluated in terms of their impact and likelihood of occurrence. Possible effects on costs and timelines are also determined.

Subsequently, risks are anchored in the project plan at the points where they may occur, enabling the simulation of alternative scenarios at any time. Especially during the control phase, project stakeholders require a clear ‘course of action’ in day-to-day operations, which is provided by a deterministic project plan. Alternative scenarios and influencing factors are identified and analyzed within the risk management process and compared to the current plan. This ensures that risks can be mitigated and opportunities can be leveraged.

ITECS documents and analyzes risks using Oracle Primavera Risk Analysis.