Approaches to implementing a corporate risk management system

The development of project management in a company, no matter how it occurs, ultimately consists in creating a unified corporate project management system covering all areas and aspects of the company's project activities. One of the mandatory subsystems included in the corporate project management system is the risk management system. Next, we will consider the creation of a corporate risk management system as one of the main tools for the development of project activities in the company.
Corporate risk management system - a set of elements including:

Enterprise employees performing risk management responsibilities.
Processes of planning, identifying and assessing risks, preparing risk response measures and monitoring risks.
Organizational and project structures that define relationships
between employees in the process of project risk management.
Regulatory and organizational support - orders, instructions, strategy, regulations, regulations, job descriptions in terms of risk management.
Methodological support in the field of risk management - risk assessment methodology and risk reporting forms.
Software in the field of risk management.

The main goal of the corporate risk management system is to ensure the achievement of project goals in conditions of uncertainty through the implementation of risk management measures, as well as to respond to risks in the event of their implementation.
Goals corporate risk management system arising from the main goal are:

Preventing delays in project implementation.
Preventing a decline in the quality and content of projects.
Preventing projects from going over budget.

Tasks corporate risk management system are:

Identification of risks and opportunities for the company at the stages of project implementation.
Timely identification and minimization of damage from risks associated
with suboptimal resource planning on projects.
Timely identification and minimization of damage from risks associated
with a discrepancy between the company's resource base and the production plans of the projects
Improving the quality, completeness and efficiency of management decisions regarding risks and opportunities on projects.
Development of plans for responding to project risks, optimal
in terms of time, cost and amount of resources involved.
Reducing the number and damage of realized risks through timely implementation of risk response plans in projects.
Creating and maintaining conditions within the company for the successful implementation of activities aimed at preventing (eliminating the consequences) of project risks and realizing profitable opportunities.
Deployment, filling and use of risk knowledge base by employees.
Motivating company employees participating in projects to identify and analyze risks.

Fundamental approaches to creating a corporate risk management system may differ according to two criteria: methods of attracting experience "external" to the company in the field of implementing a corporate risk management system, and "staged" implementation - a one-time or sequential approach to building the system.
The experience of other companies in domestic and foreign practice of building a corporate risk management system can be adopted and used in different forms. For example, such as:

Involvement of professional contractors.
Reference in a company that has already implemented a corporate risk management system.
Preliminary training of key employees in risk management.
Hiring employees with the necessary competencies.
Participation in thematic conferences and other similar events.

The use of the services of professional contractors is possible in varying amounts, but in any case the company increases the degree and quality of the use of external experience, reduces the uncertainties, timing and risks of implementation. In all other cases, we should talk about implementing a corporate risk management system on our own.
The implementation of a risk management system can be carried out either simultaneously across all projects or sequentially, highlighting a pilot project and interconnectingly building each element described above (Personnel, Methodology, Processes, Software in the field of risk management) on this project.

PM Excellence as a Professional PMC Contractor (Project Management Contractor) services for managing large and megaprojects projects offers the following approach for implementing a corporate risk management system:

1. Identify 3 pilot projects that are at different stages of implementation.

2. Select a working group from the company, including experts in the following areas: economics, finance, quality, personnel, contracting, design, logistics, construction, commissioning and commissioning.

3. The working group will undergo training on the corporate risk management system.

4. Hire a professional contractor.

5. The working group, together with the contractor, will work out all elements of the corporate risk management system on a pilot project.

6. Decide on the use of the system on other projects and the division of functions between company personnel and the contractor.

7. Pilot operation of the risk management system on all projects

8. Sign the Order on putting into commercial operation the corporate risk management system.