InsideOmegaRisk Management
The PIMS Risk Management module allows you to identify, qualify, quantify, mitigate and manage risks. The objectives of Project Risk Management are to increase probability and impact of positive events and decrease the probability and impact of events adverse to the project.
PIMS Risk Management provides the tools you need to organise your risk management activities. The flexibility of the module makes it applicable for use in all types of projects. Effective use of this tool gives a positive contribution to value creation in a project by reducing risk exposure and enhancing opportunities. It will improve the chances of project success and will help your project to identify, categorise and track risks throughout the project lifecycle.
The module gives an easy overview of the three primary attributes of risk that should be identified and tracked: Areas of potential risk, probability of risk occurring and the impact risk could have on the project if it occurs.
The combination of probability and impact creates a “risk score” that can be used in the decision making process and as a project control mechanism. The module includes many reports that assist your project in evaluating risks.
By using this module, your project will get a hierarchical structure with risk areas as the supreme level, holding all the information located under different tabs. The module gives you the possibility of creating your own top ten list of uncertainties.
Key features
- Flexibility to organise the module to meet individual project needs
- Assign actions to mitigate risks or capture opportunities
- Top Ten lists based on importance
- Risk Matrix gives a graphical representation of all open uncertainties