“A ship is safe in harbour, but that’s not what ships are for.” William G.T. Shedd
‘Managing risk’ is not the same as ‘avoiding risk’ or even as ‘minimising risk’. The key role for the senior team of any organisation is to find the optimum level of risk and reward that it is able to manage well – because that is where it will find the best returns.
PRIMACY is an example of this kind of risk management. It is the analytics-based approach designed to identify the core focus for a project business – based on past and current performance – that will drive its future success. It is particularly powerful in businesses with many small to medium sized projects and multiple area offices.
Outcomes from implementing PRIMACY:
1) 2-3% gross margin improvements are readily achievable.
2) Risk management framework for regional teams to encourage entrepreneurship.
3) Bespoke approaches for the particular types of project business.
4) Core competencies approach increases success in developing new business.
Click here for a paper that describes how PRIMACY works in detail.