Risk can be defined as uncertainty of outcome, whether positive opportunity or negative threat. The task of risk management is to ensure the organisation makes cost-effective use of a risk process that has a series of well-defined steps to support better decision-making through a thorough understanding of all risks and their likely impact.

Effective risk management is important to any organisation as it helps to improve performance by contributing to:

• Better service delivery;
• More effective management of change;
• More efficient use of resources;
• Better project management;
• Minimising waste, fraud and poor value for money outcome; and
• Supporting innovation.

RK Consultancy Services (‘RKCS’) has been assisting private industry and governments over a number of years to identify and manage risks in a cost-effective manner on various infrastructure and other related projects. RKCS is at the forefront of providing tailored risk solutions and innovative risk management tools that are compliant with the Australian Risk Management Standard AS/NZS 4360:2006. RKCS provides the following services tailored to specific client’s needs:

• Development/Review of Risk Management Policies;
• Development/Review of Risk Management Processes;
• Development/Review of Risk Management Frameworks;
• Risk Workshop Facilitation;
• Risk Analysis/Assessment/Modelling;
• Risk Evaluation;
• Development of Risk Registers;
• Risk Treatments/Mitigations Advise; and
• Coaching and Lecturing

In addition, RKCS has developed innovative Risk Management tools such as dynamic risk registers, risk/issues databases and automated risk assessment reports that can be easily customised and specifically designed to be used by users who are not trained in risk management. Furthermore, these products have been designed to sit within a Microsoft Office environment, ensuring cost effective implementation and user friendliness. Refer to Technology Management or the Product Page for further details.