Once risks are identified our specialist team determines the likelihood and consequence of each risk. INSYNC-Outsourcing develops an understanding of the nature of the risk and its potential to affect project goals and objectives. This information is also input on to the Project Risk Register.
We evaluate and rank the risk by determining the risk magnitude, which is the combination of likelihood, and consequence and cost. You make decisions about whether the risk is acceptable or whether it is serious enough to warrant treatment. These risk rankings are also added to our Project Risk Register.
This is referred to as Risk Response Planning. During this step we assess your ranked risks and set out a plan to treat, or modify these to acceptable levels minimizing the probability. In this step we create our risk mitigation strategy, preventive and contingency plans.
This is the step where we take the Project Risk Register and use it to monitor, track and review project risks with our Specialist Site Relationship Team.
Risk is about uncertainty. If IN-SYNC are able to build a contractual framework around that uncertainty, then we effectively de-risk the client’s project, allowing our client to achieve their project goals with more confidence.
By identifying and managing a comprehensive list of project risks, IN-SYNC Group provides clients with a risk free Project Underwriting Proposal.
Our IN-SYNC underwriting guarantee, backed by an insurance policy can be provided to the client to mitigate the risk in accordance to IN-SYNC’s strict underwriting policy.
Contact one of our Business Consultants today for a no obligation meeting or an informal discussion. Contact us today or call us on 01252 705 280.
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