Risk is an inherent part of any business. Your long term success depends on how well you can identify and manage it.
Hiring the right people is obviously the starting point, but it doesn’t end there. They need systems and training to ensure that they know how to identify areas of risk, and to develop and implement strategies for maintaining it.
Some aspects of risk management are managed at a company level. The selection and maintenance of appropriate insurance coverage is an example. High level financial management is another.
Other aspects are managed at a project or contract level. Examples include contract terms, project administration and accurate reporting. It is at this level that appropriate systems and training can play a key role, including detailed contract reviews (usually reserved for contracts above a particular value).
Our philosophy towards risk management is a practical one.
When advising on contracts, we don’t waste time on things that are not material. We understand that time can be critical, and we work to your deadlines. We don’t raise obstacles without suggesting solutions.
In terms of systems development, we aim to be practical. We realise that systems are worthless without employee buy-in. We work closely with you to develop processes that can be applied in practice.
Examples of risk management services we provide include:
- Contract entry process review
- Preparing standard trading terms
- Contract reviews
- Developing risk profile templates and contract review checklists
- Contract or project administration advice
- Insurance contract reviews
- Legal training to relevant staff (eg contracting, compliance)
- Workplace policies and procedures
