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Risk Management
Beginning
We work with our clients to establish an effective Risk Management Strategy that mirrors and supports their organization’s overall business objectives. We accomplish this through the delivery of proactive risk management counsel that is strengthened by our depth of expertise, enhanced backroom support, and knowledge of risk management best practices.
The practice of outsourcing select business functions is becoming more widespread as corporations seek to refocus their energies on their core businesses while assuring that ancillary activities are well managed. Selecting the right risk management partner is the key to success in this arena. DAT CC’s outsourced risk management service was designed to respond to this emerging need with a focus on quality and excellence in performance.
Our involvement in the risk management process ranges from conducting periodic project work to providing full- or part-time on-site department management and direction. We also provide specialized project work or staffing support for existing risk management functions. Whatever the assignment, our approach is to provide our clients with risk management professionals who partner with them to identify core issues, establish goals, and set a strategy for driving the process forward.
Establishing an Effective Risk Management Strategy
The purpose of risk management is to proactively establish programs and processes that support business objectives while protecting the organization’s assets — its employees and property — from fortuitous loss at the lowest possible cost.
Risk Identification and Assessment.
An organization that may be unable or unprepared to conduct a full-scale Enterprise Risk Assessment should still assess its exposure to loss. DATCC can assist clients to identify and value assets and resources, identify major loss exposures, quantify risk, and forecast future losses.
We also provide risk and analytics management integrated as part of your Project & Portfolio Management environment (PPM) such as Pertmaster, Microsoft Project and Primavera.
Enterprise Risk Assessment
ERM Project Focus
DATCC provide its clients ERM consulting services to identify quantify and prioritize material risks across the organization. DATCC works hand-in-hand with the client to address the following key elements and questions:
Risk Strategy:
What is your organization’s ERM strategy?
How is the ERM strategy communicated and executed throughout the company?
Risk Ownership:
How does each division/unit/team contribute to meeting the goals of the ERM strategy?
How are teams/individuals held accountable for success?
Risk Identification:
What is your organization’s definition of risk?
What are your organization’s top five risks?
Risk Ranking:
What are the estimated probability, time to impact and severity dimensions for the top five risks?
What are the financial consequences to your company?
Which risks are material?
How should the identified risks be prioritized?
Risk Treatment:
How are these risk currently managed?
Is the approach effective?
Risk Solutions:
What risk management processes are appropriate based upon the findings of the above elements?
What action plans should be in place?
How are risks monitored?
