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Within a business, many elements constantly change. Changes lead to uncertainties and, as a result, to different risks. Many businesses fail due to poor risk management performance. It is especially relevant to those businesses that implement various complex projects, which are more vulnerable to risks. Complex projects are seen as large projects with long-term schedules, multi-ownership, involving substantial resources, significant political issues and novelty, including technological innovation. In this case, risk management becomes critical.
Risk management must be designed and implemented as an ongoing process deeply integrated into corporate management policy and practice. Risk management is targeted at reducing risks. It is widely recognized by leading project management institutions that risk management should be an integral part of the corporate project/program/portfolio management system.
The best industry practices show that the following factors have a negative influence on risk management performance: complexity of corporate projects and functional tasks, management’s reactive attitude, insufficient level of documentation and communication, unclear process and ownership, lack of risk awareness and motivation, weak governance systems and decision-making processes, risk-averse culture and the lack of executive leadership.
Within a business, many elements constantly change. Changes lead to uncertainties and, as a result, to different risks. Many businesses fail due to poor risk management performance. It is especially relevant to those businesses that implement various complex projects, which are more vulnerable to risks. Complex projects are seen as large projects with long-term schedules, multi-ownership, involving substantial resources, significant political issues and novelty, including technological innovation. In this case, risk management becomes critical.
Risk management must be designed and implemented as an ongoing process deeply integrated into corporate management policy and practice. Risk management is targeted at reducing risks. It is widely recognized by leading project management institutions that risk management should be an integral part of the corporate project/program/portfolio management system.
The best industry practices show that the following factors have a negative influence on risk management performance: complexity of corporate projects and functional tasks, management’s reactive attitude, insufficient level of documentation and communication, unclear process and ownership, lack of risk awareness and motivation, weak governance systems and decision-making processes, risk-averse culture and the lack of executive leadership.
HGM Consulting is able to effectively support clients that represent different sectors and regions in their efforts to create and institutionalize corporate risk management and performance improvement systems. As well, we can assist in conducting a stand-alone risk assessment or performance evaluation exercise.
HGM Consulting is able to effectively support clients that represent different sectors and regions in their efforts to create and institutionalize corporate risk management and performance improvement systems. As well, we can assist in conducting a stand-alone risk assessment or performance evaluation exercise.
We practice FERMA and IRM, integrated risk management methodology, in combination with the project management framework provided by the Project Management Institute. The four main elements of the iterative process include context definition, risk
identification, risk assessment and risk response. We always integrate the risk management framework into corporate development strategy, policies and procedures to minimize risks. The strategy allows executive and mid-level management to continually monitor and effectively manage identified and thoroughly evaluated risks. As well, we put a significant effort into developing a robust corporate leadership – a prerequisite for building a successful risk management and change management system.
Improving performance is a high priority for every senior executive. Many advanced organizations have always measured performance by the improvements seen by their customers, as well as by the results delivered to other stakeholders. To provide sustainable operational excellence, an organization needs a robust integrative improvement approach. HGM Consulting utilizes an integrated Lean Six Sigma methodology to design and implement a comprehensive business process improvement strategy.
Six Sigma is a business management strategy which seeks to improve the quality of process outputs by identifying and removing the causes of defects and minimizing variability in manufacturing and business processes. A Six Sigma process is one in which 99.99966% of the products manufactured are statistically expected to be free of defects, i.e. there are 3.4 defects per million products. Lean is a management system that focuses on improving the overall quality of how an organization works. It takes into consideration every process in the organization and helps improve the efficiency and effectiveness of each employee and each process. It helps to reduce wastage of time and resources while improving the quality of the product or service and giving better value for money to the end customer.
We apply DMAIC – a five-step cycle used for process improvements: Define, Measure, Analyze, Improve and Control. The steps make sense, they are easy to understand, and are logical in their sequence. They allow us and our clients to adequately scope a problem, measure the current performance, analyze the root causes of various issues and existing inefficiencies, test and verify improvement recommendations, and then implement changes for sustainability in the long term.
We practice FERMA and IRM, integrated risk management methodology, in combination with the project management framework provided by the Project Management Institute. The four main elements of the iterative process include context definition, risk
identification, risk assessment and risk response. We always integrate the risk management framework into corporate development strategy, policies and procedures to minimize risks. The strategy allows executive and mid-level management to continually monitor and effectively manage identified and thoroughly evaluated risks. As well, we put a significant effort into developing a robust corporate leadership – a prerequisite for building a successful risk management and change management system.
Improving performance is a high priority for every senior executive. Many advanced organizations have always measured performance by the improvements seen by their customers, as well as by the results delivered to other stakeholders. To provide sustainable operational excellence, an organization needs a robust integrative improvement approach. HGM Consulting utilizes an integrated Lean Six Sigma methodology to design and implement a comprehensive business process improvement strategy.
Six Sigma is a business management strategy which seeks to improve the quality of process outputs by identifying and removing the causes of defects and minimizing variability in manufacturing and business processes. A Six Sigma process is one in which 99.99966% of the products manufactured are statistically expected to be free of defects, i.e. there are 3.4 defects per million products. Lean is a management system that focuses on improving the overall quality of how an organization works. It takes into consideration every process in the organization and helps improve the efficiency and effectiveness of each employee and each process. It helps to reduce wastage of time and resources while improving the quality of the product or service and giving better value for money to the end customer.
We apply DMAIC – a five-step cycle used for process improvements: Define, Measure, Analyze, Improve and Control. The steps make sense, they are easy to understand, and are logical in their sequence. They allow us and our clients to adequately scope a problem, measure the current performance, analyze the root causes of various issues and existing inefficiencies, test and verify improvement recommendations, and then implement changes for sustainability in the long term.