Project risk management is a key project management process which increases the chance of meeting project objectives. A proper risk management process must identify and analyze the potential strategic and tactical risks and evaluate their impacts on project cost, schedule, performance, and other objectives. 3Targets Consultants follows a structured method to identify, assess, and prioritize risks, and to provide proactive and reactive risk response strategies.
The team also performs quantitative risk management and develops risk-based schedules and cost estimates using PERT and Monte Carlo Algorithms, and helps companies determine contingencies and management reserves for their projects.
3Targets uses the Analytical Hierarchy Process (AHP), Stochastic Decision Trees and Kepner Tregoe (KT) Analysis to help companies or projects making decisions under conditions of uncertainty.