Navigate Uncertainty: Proactive Risk Management with PACE Across All Project Phases

During the opportunity phase, PACE helps organizations assess the potential risks associated with pursuing a project, enabling informed go/no-go decisions. 

• Complete Risk Assessment:  

• PACE provides a structured framework for conducting comprehensive risk assessments, ensuring that all potential risks are identified and evaluated. 

• Users can define risk categories, criteria, and scoring methodologies to tailor the assessment to their specific needs. 

• Identify Risks and Risk Score:  

• PACE facilitates the identification of potential risks and the assignment of risk scores, providing a quantitative measure of risk severity. 

• Risk scores can be based on factors such as probability, impact, and detectability, allowing for a comprehensive assessment of risk exposure. 

• Utilize in Go/No-Go for Proposal:  

• The risk assessment data generated in PACE can be integrated into the go/no-go decision-making process, ensuring that risk considerations are factored into project selection. 

• By evaluating the overall risk profile, organizations can make informed decisions about whether to pursue a project. 

Proposal Phase: Refining Risk Assessment for Accurate Planning 

As projects move into the proposal phase, PACE allows for a more refined risk assessment, focusing on the specific risks associated with the proposed project scope and approach. 

• Repeat Risk Assessment:  

• PACE enables teams to revisit and update the initial risk assessment, incorporating new information and insights gained during the proposal development process. 

• This iterative approach ensures that the risk assessment remains current and relevant. 

• Identify Proposal Risks:  

• PACE helps teams identify risks specific to the proposal, such as technical challenges, resource constraints, or contractual obligations. 

• This targeted approach ensures that the risk assessment is tailored to the unique characteristics of the proposed project. 

• Submit for Internal Approval:  

• PACE allows the risk assessment to be submitted for internal approvals, ensuring that all stakeholders are aware of and aligned on the identified risks and mitigation strategies. 

Project Phase: Continuous Monitoring and Mitigation 

During project execution, PACE provides ongoing risk monitoring and mitigation capabilities, ensuring that risks are effectively managed throughout the project lifecycle. 

• Update Risk Assessment:  

• PACE facilitates the continuous updating of the risk assessment, allowing teams to track emerging risks and adjust mitigation strategies as needed. 

• Regular risk reviews ensure that the risk assessment remains current and relevant. 

• Identify Risks and Risk Score:  

• PACE provides real-time risk tracking, allowing project managers to identify and score new risks as they arise. 

• This proactive approach enables timely intervention and minimizes the impact of unforeseen risks. 

• Manage & Mitigate Risks:  

• PACE offers tools for developing and implementing risk mitigation plans, assigning responsibilities, and tracking progress. 

• Risk mitigation strategies can be documented and communicated to all stakeholders, ensuring that everyone is aligned on the approach. 

• Reporting features allow for clear tracking of risk mitigation progress.