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Every business and every project is accompanied by an array of risks that can alter outcomes or cause failures. Risks can be internal, in which case they are mostly preventable and controllable. They can also be external, beyond a business’s influence or control. In the case of external risks, your best bet is to know what they are and what to do about them. Your chances of success are highly dependent on your ability to reduce uncertainty by assessing and managing risks.

Risk management is a critical part of strategic business planning and project planning. It identifies all possible risks, evaluates their probabilities and impacts, and puts plans to mitigate them. Mitigation can come in the form of contingency plans to eliminate, reduce, transfer, or assimilate risks.

Examples of potential risks include suppliers failing to make deliveries, contractors missing deadlines and health, safety and environmental issues. Ways in which these can be addressed include having an organized procurement contingency plan with multiple suppliers, incentivized and milestone-based payment terms for contractors and clear safety processes that are documented with process owners clearly identified.

Opportunistic Risk Management

At The Seven Wise Men, we pride ourselves on being game-changers when it comes to risk management. We recognize that every risk carries an inherent opportunity. When people recognize a negative situation, they’re able to deal with it to find a way out.

With our structured and disciplined methodology for risk management, we help you build strong lines of defense against any type of risk. With advanced tools, technologies and data sources we help you visualize and simulate risks. We show you how they play out and cascade so you can plan your best moves.

The Seven Wise Men assists you by developing comprehensive risk management plans and strategies. We execute on these plans and we organize risk awareness workshops for your teams to make sure that we have their buy-in, thus creating sustainable, embedded processes.

When you hire The Seven Wise Men for risk management you gain the confidence that no matter the weather, your ship will sail and arrive safely to its destination.

Risk management is one of our unique capabilities. Our outstanding team of senior-level advisors deploys extensive experience in risk avoidance and management to help our clients enhance their readiness for and resilience to crises.

Potential Risk Sources

– Changes in the regulatory environment– Life cycle stage
– Litigation – Industry prospects
– Cash flow timing– Resource-depletion
– Supplier default– Stakeholder relations
– Scale of investment and implications– Stock exchange

Why The Seven Wise Men?

– Uncertainty, risk, and vulnerability assessments– Containment strategy
– Pre-emptive crisis planning– Alliances and coalitions
– Communications audit– Strategic foresight
– Media relations– Pro-active measures and tactical steps
– Recovery and management– Public opinion influence

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