Quantitative Risk Assessments, Risk Management,
       and Management of
risks

Risks are the bane of every project.  Risks make good project decision making difficult, and sometimes seem to make it impossible.  

Attwater Consulting approaches risks like no other consulting firm.  We neither use nor promote some "magic bullet" tool in which we can plug and chug some of your data, using a host of unexplained or unjustified assumptions, to come up with mean point estimates of your risks.  We use Advanced Analytics to develop custom quantitative assessments of your risks, producing full distributions for the risks, using all of your data and information.  We present these distributions of your risks using our density strip charts that allow quick and easy prioritizations of risks.  These quantitative assessments that we produce always enable quick, comfortable, and the very best decisions for those really tough and perplexing risk problems, like whether to invest which resources in which particular mitigation effort to reduce the risk, or to simply accept the risk.  We can also develop predictive distributions (Value of Information measure distributions) based on your data to demonstrate how sure you can be that a particular risk mitigation might be effective, assessments of how sure you can be that the return on investment of mitigation resources will reduce the risk enough, before performing the mitigation.  That really can help with those tough decisions.

Here are some examples of the unique capabilities offered by Attwater Consultants for risk:

  • Specializing in Assessment and Management of Risks with Severe Consequences that have Very Low Probabilities
  • Specializing in Quantitative Risk Assessments using Very Few (if any) Data and no Assumptions
  • Risk Management Planning that Actually Works, Effectively, Efficiently, and Measurably
  • Unique Risk Assessment Presentations that Enable Easy Decision Making
  • Decision Analysis to Assure All Reasonable Alternatives are Considered, with Decisions made Quickly and Comfortably
  • Bayesian Formulations for Risk using Markov Chain Monte Carlo Methods
  • Full Distribution Value of Information Analyses to Determine if Mitigation of a Risk has a Sufficient ROI to Justify Mitigation
  • Engineering Specialties (Reliability, Availability, Maintenance, Logistics, Safety, etc.) Assessments and Analyses
  • Risk Management Training for your Project Management or Systems Engineering Teams
  • Useful Risk Metrics to Show that Risk Management is Assuring Project Success

Attwater Consultants are also experts in formal Risk Management.  There are many established processes in project management and systems engineering that deal with the normal risks that all project experience, e.g., EVMS for project controls risks, Verification for risks of requirements not being satisfied in the as-built, Integration for risks that subsystems won't work together, Technical Performance Management for risks that technical challenges won't be met, Validation for risks in understanding the customer's problem, etc..  Formal Risk Management addresses all of those uncertain future issues that were not anticipated at the start of a project and addressed in all of the plans developed for the processes to manage them.  These do happen to all projects, all project managers and Chief Systems Engineers are indeed human and cannot possibly think of everything that can possibly happen in advance.  Attwater Consultants can help you structure your formal Risk Management process, and make it work to ensure success of your project.  We have also developed a number of metrics that can be used to demonstrate how your formal Risk Management process is actually assuring project success.

Attwater Consultants have authored a number of papers solving some rather complex risk problems, some previously considered unsolvable, using quantitative risk assessments without assumptions.  We can solve your risk problems as well.


Attwater Consultants provide unusually powerful risk and risk management methods that help insure your project from perils of the unknown.   Contact Us for more information on how an Attwater Consultant can help fine tune your Projects into assured successes.  We selectively accept short term and long term assignments all over the world; language used is English.