A PowerPoint introduction to risk-elimin8's features is available for download click here (2.5Meg)

Risk assessment is a major issue in the asset management regime. In order to strike a balance between performance and value, a project manager must be concerned with establishing:

• What needs to be done
  
• What resources are required
  
• How long it will take

When these parameters are known they have the means to establish a price and a project plan. The items, that jeopardise the accuracy of our valuation and the outcome of our plan, are risks.

To a great extent, the level to which people understand and manage those risks will be a major factor in successfully executing work. A procedure, which helps a project adopt a systematic and disciplined approach to the understanding and management of risk, must therefore be of great value and benefit to a business.

Risk Assessment tools are not new to industry. Within companies, these tools range from spreadsheets that do little more than record the basic risk details, to more elaborate software packages based around complex numerical calculations such as Monte Carlo simulation. The best system to use is debatable and ultimately may come down to personal choice or project funding. It would seem logical, however, that the system has the ability to assess four key elements:

• Identification
  
• Evaluation
  
• Mitigation
  
• Management

risk-elimin8 is a risk management tool, which is based on the process outlined in the flow chart below.
Click on any part of the chart to find out more.