Understanding and developing a risk management strategy
Our team of risk advisors can help you develop risk management strategies that are tailored to your business needs and investment decisions. With our support, you will be better prepared to manage a wide range of opportunities and risks, become more resilient, and obtain the best risk-return relationship for your capital investments.
Hatch uses modern risk management tools that will provide you with a holistic view to the risks and opportunities affecting your investments and will increase accountability for risk management within your organization or projects.
Risk management services to help you make better decisions
From traditional qualitative and quantitative project risk assessments and hazard studies, to risk analytics, resiliency planning, and climate risk management techniques, Hatch provides a wide range of risk management services that are integrated in key project processes and decisions throughout the project life cycle and beyond. We help you understand where the most significant risks and opportunities are and how they affect your investment objectives and provide you with an increased degree of confidence that your project will be completed within the approved investment risk profile.
Project risk management planning
Our risk advisors will scan the project scope, objectives, stakeholders, assumptions, and constraints, and develop project risk management strategies that are effective, sustainable, tailored to the project-specific needs and objectives, and integrated into key project activities and decision-making processes.
Project qualitative risk assessments
We provide unbiased direction and guidance to project teams in matters related to risk. Through a risk identification and assessment process, we help project teams and stakeholders gain a shared understanding of where the most significant risks and opportunities are and what is required to effectively manage them in order to obtain better investment outcomes.
Project Quantitative Risk Analysis (QRA)
Hatch utilizes probabilistic and parametric QRA models (integrated cost - schedule - risk events models) which, combined with our risk analysts modelling expertise and unbiased facilitation skills, enable you to make more informed investment decisions with a higher degree of confidence that their projects are completed within the approved investment risk profile.
Risk analytics
Our specialists employ artificial intelligence, machine learning, predictive analytics, network analysis, and Bayesian probabilistic methods to help you quantify risks and risk dependencies both within projects and technical engineering systems. Risk analytics solutions are the most valuable when traditional risk assessment methods impose unrealistic assumptions due to lack of data or high degrees of probabilistic dependencies. That includes dealing with networks of complex interdependent risks, infrequent events such as accidents, fat or heavy-tailed phenomena, black swan events, and intangible and hard-to-measure risks. We help you understand your value at risk through comprehensive risk identification and quantification for a risk adjusted valuation of your portfolio on investment opportunities that is free of bias.
Catastrophic risk assessment
Structured and data-driven assurance assessments that focus on confirmation that critical preventative controls are valid and in place to mitigate the occurrence and impact of highly unlikely, but highly impactful risk events. Driven by experienced subject matter experts, our approach, aligned with the International Council for Mining and Metals principles, unearths real risks and puts in place engineering controls to eliminate or reduce the potential of a catastrophic event.
Decision analysis
Decision analysis is a key component of risk management. We help clients analyze potential investment alternatives in order to select the optimal option. We assist with the planning and evaluation of all reasonable investment alternatives by assessing the net present value, risk, and uncertainty. The aim is to introduce an opportunity realization checkpoint prior to the project obtaining approval of the preferred investment option and proceeding with execution.
Value improving practices
Projects make increasing use of value improving practices to improve the chances of achieving positive outcomes. We implement tailored approaches, delivered with sufficient rigor to ensure the integrity of the outcome, capitalizing on the expertise and input of the participants.
Hazard studies
Hatch utilizes an industry-proven six-step hazard study process to identify and evaluate deviations from the design intent and operability issues that could affect people, property, and the environment during facility construction, commissioning, operations, and maintenance. The hazard studies are supplemented by more in-depth process functional analysis.
Business resilience
We help you anticipate and plan for business and project disruptions while ensuring resilience is designed into your solution to deal with crises when they arise. We can help you respond quickly and effectively to the disruptions that may face your unique critical activity profile. This includes:
- Emergency preparedness and response planning
- Business continuity and resilience
- Crisis management
Climate risk management
We assist clients with climate risk identification and the assessment of climate risk impact on assets, people, ecosystems, culture, etc. This includes:
- Physical risk impact assessment
- Scenario design
- Adaptation strategies
Project Management Office (PMO) Risk Program Set-up
PMOs play an increasingly important role in organizations, not just coordinating and managing projects, but facilitating risk-based decisions. Our risk advisors will work with you to set up the PMO Risk Management function, processes, procedures, tools and resources.
Risk management program independent peer review
We evaluate the risk management strategy of your program or project and make recommendations for improvement. Our approach outlines key indicators and activities that comprise a sustainable, iterative, and mature risk management program.
Enterprise risk management
We help clients design and implement sustainable risk management strategies and frameworks that are integrated with strategic decision-making and day-to-day operations.
Risk management system selection and deployment planning
We have a proven Risk Management system selection and deployment process. Our focus is on working with the clients' core risk team to determine the system needs, key functionalities and selection criteria. Once the system functionalities are determined, we screen relevant risk management applications and assist with the selection of the most viable option that will achieve the desired outcomes. We then work with the client's risk team to develop a deployment plan that supports system deployment throughout the organization.
