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Expert project risk management consultants

Helping you successfully implement your projects

Expert project risk management consultants

Helping you successfully implement your projects

Project risk associates

All About Your Projects

Your projects' risks are our business. We believe that identifying, understanding and managing your projects' risks will ensure that the projects are completed successfully, and PRA has the expertise, experience and tools necessary to undertake this process. We're prepared to help you at any level, from impartial advice to hands-on involvement to ensure your projects are successful.

what are project risks?

While there are many definitions of risk out there, project risk is broadly defined as as the effect of uncertainty on achievement of a project's objectives. As this definition is not particularly helpful in the process of managing risk, PRA has adopted the following risk definitions in defining and implementing their project risk management processes and techniques.

Project risk is the potential occurrence of an event, which if it occurs will have a negative impact (threat) or positive impact (opportunity) on the project’s objectives
Project uncertainty is the existence of a current condition that impacts on the ability to accurately plan for the future, particularly project timelines and budgets.

how are risks managed?

PRA's approach to project risk management consists of the following broad process steps:

Comprehensive identification of risks that might impact on the achievement of each of the Project’s objectives
Accurate assessment of the potential impacts of the identified risks
Prioritisation of the requirements for risk response identification
Formulation of appropriate responses to the priority risks
Quantification of adequate cost and time provisions for post-response residual risk impacts
Control of the implementation of risk responses
Monitoring of changes in risk exposure, identification of new risks and modification of responses.

About project risk associates

Our background

PRA was formed in 2012 as a sole proprietorship by Mark Gilfillan and has been delivering project risk management services to a range of industries, primarily in Sub-Saharan Africa. In 2019 Mark moved to Singapore to work on the Changi Airport Terminal 5 project. Subsequent to the project's suspension in 2020 due to the Covid-19 pandemic, Project Risk Associates was incorporated in Singapore as a private limited company.

Mark Gilfillan LinkedIn Profile

Our Approach

Our service includes an initial comprehensive consult to identify your projects' scope, objectives, timelines and budgets and an in-depth determination of the scope of your risk management needs. In addition, an assessment is undertaken of your organisation's risk management maturity and capabilities. This information will be utilised to formulate a detailed proposal to deliver the required risk management services. The proposal will include an assignment plan with a scope definition, methodology description, deliverables definition, milestones, a budget, and a schedule.

Our services include:

Project Risk Management
Hazard Risk Management
Project Value Management.

Our Services

Why Us?

Project Risk Associates offers independent and expert resources in the implementation of effective project risk management of your projects. The benefits of PRA's services will include:

Improved likelihood of achieving your projects' objectives
An accurate determination of realistic timelines and budgets for your projects
A clear understanding of your projects' risk profiles and their fit your organisations risk appetite
A path to improving your organisation's risk management maturity and capabilities
Improved corporate governance of your projects

Expert project risk management consultants

Expert project risk management consultants

Project risk associates

All About Your Projects

what are project risks?

how are risks managed?

About project risk associates

Our background

Our Approach

Why Us?

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