Gibbs & Cox employs both qualitative and quantitative risk management processes and tools to ensure the success of our projects. In addition, we regularly support Government and commercial clients in managing the risks of their projects. A key success strategy in risk management is to tailor the tools and processes to the scope and complexity of the project. By selecting the appropriate risk management strategy at the start of the project, risks can be identified, assessed, prioritized and managed appropriately, within the budget of the project. Qualitative methods like a Risk Assessment matrix are used on less complex projects, where risks are generally well understood. More qualitative risk management methods, like Expected Monetary Value (EMV) can be used to support choosing courses of action with multiple, complex risks.
Risks can be generally classified in the following broad categories:
Recent projects where Gibbs & Cox has performed risk management activities for external client projects include:
- AEGIS Ashore
- DDG 1000
- PMS 400D Program Office Support