Whether a billion-dollar megaproject or a routine turnaround, risks exist that must be managed. As business constraints grow, and organizations aim for ever more competitive outcomes, the importance of strategic risk management cannot be understated. AP-Networks’ research has shown definitively that the more complex a turnaround is, the riskier it becomes, and the greater the odds it will end up as a disaster.
AP-Networks’ Facilitated Turnaround Risk Workshop provides a ready-made structure within which turnaround teams can easily identify, assess, and prioritize risks in a proactive and systematic fashion. Our experienced associates work closely with your turnaround team to help identify and manage the major risks that can threaten the team’s goals and objectives.
A Facilitated Turnaround Risk Workshop begins with a brainstorming session that includes all key functional groups from the turnaround team. The conversation is facilitated by our expert associates, who draw upon their experience and their knowledge of AP-Networks’ proprietary database of common risks. Once risks are identified, a scoring system is utilized to rate both the potential impact of each risk and the likelihood of its occurrence.
The risks are then prioritized, risk owners are assigned, and response plans are developed for the most significant risks. Lastly, a risk register containing the details of each individual risk, along with associated action plans, is provided to the turnaround team. If desired, the register can be uploaded into PYXIS, AP-Networks’ cloud-based risk management system.
The Facilitated Turnaround Risk Workshop draws upon AP-Networks’ experienced staff, Industry-leading methodologies, and world-class digital tools to provide a structured format for implementing a holistic risk management process by:
- Identifying a comprehensive set of risks associated with the turnaround
- Categorizing risks using a structured format
- Assessing and Prioritizing risks for treatment, based on their potential impact and likelihood of occurrence
- Assigning risk owners and initiating the development of robust treatment plans
- Establishing a comprehensive risk register