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Effective Risk Management
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"Recent research indicates over 70% of programmes are late, over budget or ineffective. Organisations employing effective risk management have reduced this failure rate significantly and gained a significant competitive advantage"

Colin Wheeler, Istria Technical Director and PMI Risk Liaison

"IRIS risk mangement software helped us to derive major financial and performance improvements. The combination of quantitative and qualitative functionality provides robust decision support and the ability to navigate through complex scenarios"

Mehender Rawat, Programme Manager, London Underground

"WFI searched for a risk management support tool for many years. With IRIS, we have finally found a product we can introduce to our clients and ensure they manage their risks effectively"

Michel Sabatier, Head of Consulting, WFI

"In developing the IRIS software product, Istria have successfully managed to integrate our leading-edge quantitative techniques within an extremely intuitive and user friendly application. With IRIS’s qualitative risk matrices, customers now get the best of both worlds"

Chris Marlow, European Sales Director, Palisade Europe

"The IRIS software tool provides us with a rigorous methodology and our clients are able to generate a competitive advantage through risk management"

Mark Cook, Managing Director, Persides Ltd

Customer Stories

Istria has provided specialist risk management services to clients from all sectors over the last two decades. A selection of some of our more recent engagements is provided below:

London Underground

Sector : Transport / Construction / Public Sector

Region : EMEA

London Underground

When it opened in 1863, London Underground was the world’s first underground railway. Today, this vital metro system, known locally as "The Tube", provides over three million passenger journeys a day to and from 275 stations. The network stretches across 253 miles (408 km) and is operated, maintained and supported by 12,000 staff. London Underground is crucial to the economy of London and, in turn, of the United Kingdom as a whole.

London Underground has been using the IRIS risk management software to manage risks in the facilities organization since 2003. It recently upgraded to IRIS v2.5 following extremely successful results with the earlier versions.

Click here to read the full case study

DHL

Sector: Logistics

Region : EMEA

DHL Logo

DHL needed to consolidate a disparate set of legacy data centres throughout Europe into a single streamlined corporate level data centre for the whole region. The timeline for the Programme was extremely challenging and the loss of live and historic data during the transition would have been enormously damaging to the organisation and its customer relations.

Istria seconded a full time risk manager to this New Data Centre Programme. Istria introduced its well established risk management method and reporting procedures to the project. This consisted of two distinct phases:

  • In phase 1, Programme level risks were identified and recorded in a dynamic risk register, effective management reporting procedures were implemented and risks were managed at the appropriate level in the organisation
  • During Phase 2, the risk identification process was drilled down to individual country level using local risk identification workshops held at each of the European sites. Each country maintained its own risk register under the control and guidance of the risk manager and these were aggregated the new management reporting procedure

The project was successfully delivered on time and within budget. The client credits effective management of the risks to the project as one of the main contributory factors to this successful delivery. Istria was especially commended on the level of buy-in to the risk management process it generated at senior management level which cascaded down the organisation.

BT Syntegra

Sector: Telecommunications

Region : EMEA

BT Syntegra Logo

Istria was engaged by BT Syntegra to develop a risk management process for its project with the UK tax authorities. Istria was asked to design and develop the process and ensure that a new culture of risk management new best practice was embedded throughout the project.

Following the successful completion of the initial engagement, Istria was asked to develop a company wide approach to risk management. This company wide approach required quantitative risk analysis and Istria derived a set of statistical models such that risk exposure could be calculated using Monte Carlo techniques and the risk analysis tool @RISK.

Istria then seconded a Risk Manager full time to Syntegra to provide risk management advice and guidance for all major projects. The risk manager independently reported directly to the Finance Director.

The client credits Istria with effectively rescuing a secure project that was approaching meltdown.

UK Passport Service

Sector: Public Sector

Region : EMEA

UK Passport Service Logo

The UK Passport Service issues UK passports to British nationals living in the UK. As an executive agency of the Home Office, the UKPS mission is "to confirm nationality and identity, enabling travel".

Over the last two years, the UK Passport Service (UKPS) has successfully implemented a range of new procedures and systems to prevent identity and passport fraud. In 2006, it will launch one of its most important counter-fraud initiatives, the biometric passport. The new design and security features, including a biometric chip containing the facial image and biographical data of the holder, will render the document more secure against forgery while facilitating more robust border controls.

Istria has been working with the UK Passport Service since June 2005, seconding one of our consultants as the risk manager for the biometrics project. We have recently extended this engagement following excellent first phase results.

OCCAR

Sector: Aerospace/Defence

Region : EMEA

OCCAR Logo

OCCAR (Organisation Conjoint de Cooperation en matiere d'Armement) was established by Administrative Arrangement on 12th November 1996 by the Defence Ministers of France, Germany, Italy and the UK. Its aim is to provide more effective and efficient arrangements for the management of certain existing and future collaborative armament programmes.

The Defence Ministers of the four founding Nations went on to sign a Treaty, the "OCCAR CONVENTION", which came into force on the 28th January 2001 giving the organisation its legal status, allowing it to place and manage contracts, and to employ its own staff.

Istria was engaged to provide both strategic and project level risk management consultancy advice. The engagement included the development of new business processes and improvement of existing ones. Istria worked with the client to develop specific detailed risk management procedures and integrated these into the overall project management procedures for a range of programmes at a local and corporate level.

Click here to read the full case study

Ministry of Defence

Sector: Defence

Region : EMEA

Ministry of Defence Logo

Istria was engaged to provide consultancy services to the Ministry of Defence for the management programme for one of their military aircraft. The project team quickly adopted the Istria Risk Management Method and utilised the IRIS software to manage the risks to the Programme.

Istria provided risk management expertise to the project managers across a range of projects and programmes from radar and computer upgrades to mid-life fatigue programme and missile developments, and to members of the Management Board.

Read More : Istria Risk Management Software Case Studies