Lausanne, 19.August 2009. In today economy and supply chain business orientation, an important part is taken by long-term contracts with partners and suppliers. However these contracts can pose relevant risks to your company.
That is why you need at first to identify, classify, quantify and analyze risks for existing O&M contracts. Most important is also to assume responsibility for scenario planning and sensitivity analyses, thus forecasting risks and opportunities that my affect your production. As in every risk management good practice it will be necessary to develop and initiate risk mitigation measures.
We at MinimaRisk have conceived a software, running on the cloud, a so-called Software-as-a-Service (Saas) which does exactly help you in the challenging tasks of managing the measures that should after all leverage your company from the existing risks and threats.
It will be also necessary to follow-up and measure results. As in every aspect risk management is not an isolated thing, therefore the participation in a risk team will be essential to this particular tasks.
Only by following these practical tips you will be able to leverage your Risk Management profile and, finally your management will love you.