Energy and mining companies operate within one of the most hyper competitive and regulated industries in the world. Organizations that thrive use risk to their advantage and execute two critical business activities better than their competition:
- They complete and deliver their capital projects on time and within budget
- They minimize unforeseen losses, protecting their reputation, operating environments and bottom line
Demand in both industries is high, as governments seek control over their resources and as emerging markets continue to develop. Supply, however, is increasingly constrained as development projects are pushed into more remote, unfamiliar territory (PwC, Mine 2011 – The game has changed) In order to meet demand, there is little room for error. By proactively managing project risk, energy and mining companies can stay ahead of unforeseen risks that can impact critical capital projects, impede production and harm profitability. With project risk management as a core operating principal, energy and mining companies reduce unidentified losses, improve accountability for risk, drive efficiency and help position the company as a safe bet for shareholders, community members and the capital markets.
“The important thing about ARM is that it enables us to have a devolved risk process which is run within individual areas but our central team maintains the overview across the sites and the business, something we couldn’t do before”
“There have been examples where we have been able to take advantage of a particular safety station resource, which may be difficult to access normally, and fit it into a project schedule, thereby making the project time shorter, saving time and utilizing assets more efficiently. This opportunity management is a great asset”
By offering the most complete risk management software on the market, Active Risk Manager (ARM) is used by leading enterprises including Fortescue Metals Group, OMV, RWE, ALSTOM, Saudi Aramco, Westinghouse, Bruce Power, and many others. With ARM, these companies have gained a comprehensive, real time view of their risks and opportunities across their project portfolio that is unachievable in any other single software solution. ARM integrates seamlessly with other tools, including Primavera and Microsoft Project, providing an efficient way for Project Professionals, Risk Professionals and Executives to manage risk.
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Popular ERM capabilities for energy and mining:
- Portfolio Management
- New Market Opportunity Management
- Compliance Management
- Health & Safety
- Incident Management