Risk Analysis Procedures

Risk analysis involves determining the consequences and identifying the likelihood of risks that may affect the success of a project or fulfillment of company objectives. The primary goal of it is to ensure that the company’s stakeholders, risk analysts, and decision-makers are able to have a clear view of the potential pitfalls so that they could plan appropriate risk mitigating options accordingly.

ADB Consulting’s both qualitative and quantitative risk management procedures provide you the most relevant and meaningful data that will let you better manage the potential harms. We combine years of experience and the most advanced tools to help give clients a competitive edge in risk reduction.

Our team of experts and project consultants identify and analyze risks and help objectively manage and mitigate them, resulting in the assessment reports that you can rely on. ADB’s risk analysis procedures can be fragmented into following basic steps:

·         Plan a risk assessment strategy

·         Structure the assessment based on geography, function, process or flow

·         Collect information

·         Identify hazards and those at risk

·         Determine the severity of risk in actual circumstances

·         Planning mitigation strategies for eliminating or controlling risks

·         Prioritize risks and decide on control measures

·         Implement controls

·         Record the analysis

·         Measure the effectiveness of action

 Monitor the risk assessment program 

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