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Effective Risk Management
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"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

"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

"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

Further News from Istria

Istria Works with OGC on MoR rewrite

OGC Logo

Istria is pleased to announce it will be working with the Office of Government Commerce (OGC) in the update of the Management of Risk Module during 2006.

The OGC works with public sector organisations to help them improve their efficiency, gain better value for money from their commercial activities and deliver improved success from programmes and projects. Following the release of a new Orange Book by the Treasury in 2005, the OGC has been tasked with updating its Guidance on the Management of Risk (MoR).

The MoR sets out a framework for taking informed decisions about risk at a strategic, programme, project and operational level to ensure that key risks are identified, assessed and that action is taken to address them. It has been adopted by government organisations and commercial companies throughout the world.

The Programme Director for the MoR rewrite comments "We asked Istria to contribute to the MoR rewrite when we saw their work at the UK Passport Service. Their Risk Management Method embeds all of the principles that we recommend for the MoR guidelines and we are delighted that Istria agreed to help review and update our guidelines in 2006"”.

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Persides and Istria join forces in Aerospace and Defence Sector

Persides has joined the Istria alliance network to provide risk management services to the Aerospace and Defence Industry.

Persides´ management team experience extends to over 80 years in the defence and defence-related market place and covers a wide variety of programmes and clients including the Ministry of Defence, Thales, Raytheon and Rolls Royce. The common theme throughout is the design, development, integration and support of complex hi-technology systems against fixed price contracts and demanding timescales.

Mark Cook, Managing Director, commented "In our sector it is imperative that projects are delivered on time as budget over-runs quickly mount up to millions of dollars. By helping our clients identify risks early, we reduce the probability and impact of these risks crystallising. The IRIS software tool provides us with a rigorous methodology and our clients are able to generate a competitive advantage through risk management"

Istria has provided in-depth risk management training to all of the project managers at Persides and the IRIS software tool is being deployed on a number major programmes.

Istria wins three new contracts in the public sector

Istria Risk Management Solutions has recently won three new contracts for its consultancy services. Competitive tenders issued by three UK public sector organisations over the summer have all been won by Istria. The following organisations have decided to utilise Istria’s extensive risk management expertise:

  • The Atomic Weapons Establishment (AWE);
  • The Identity & Passport Services (IPS); and
  • The Department for Constitutional Affairs (DCA)

These organisations join a number of other public sector clients in Istria’s portfolio, including the Ministry of Defence, London Underground and a number of Local Authorities.

Charles Ducher, recently recruited to lead the Risk Consulting Practice at Istria, states “I am delighted that we have been so successful in winning these tenders in such a competitive environment. It demonstrates the ongoing success of the Istria Risk Management Method. The Istria methodology has proved to be an ideal framework for our clients to be able to integrate best practice risk management techniques with their own specific policies, processes and procedures”.

Istria consults across a range of industries including aerospace, defence, construction, manufacturing, oil and gas and telecommunications. It has also developed the leading edge risk management software, IRIS, which enables organisations to quantify their risk exposure, automate processes, understand the most cost effective risk mitigating actions and to develop a strong risk management culture.

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