Risk is inherent in business, and today, organizations are exposed to more risk—and more kinds of risk—than ever before. That is why it is essential that organizations plan ahead for events that might compromise their quality, supply chain, customer loyalty, and/or the safety and security of their operations, activities, and projects.
Traditional approaches to risk and liability management rely heavily on managing projects in response to events. KTL’s risk and liability management focus goes beyond event-driven project management. Our philosophy is one in which effective program management and process improvement—in addition to managing the issue at hand—come together to identify and reduce future risks and liabilities.
KTL helps evaluate and prioritize risks so companies are equipped to handle the challenges and threats that accompany operating a successful a business. We identify and assess risks to operations, and then help design and implement risk management strategies that align fully with the organization’s vision and objectives. Our goal is to help turn potential risks and liabilities into opportunities—to achieve higher economic returns and protect employees, communities, customers, and the environment. This, in turn, protects and enhances overall business value.
Part of managing risks involves adapting to changes in the marketplace (e.g., economic situation, technology, regulations, etc.), applying documented processes and defined programs, and then improving them over time. This requires effective change management, sustained efforts, and disciplined management and strategies to ensure that organizational processes, programs, and projects are constantly improving.
KTL helps organizations map out and improve the interconnected set of processes, sub-processes, activities, and tasks that allow the business to perform more effectively. Through in-depth interviews, data analysis, application of disciplined process improvement methods, and facilitation, we demonstrate how all areas interrelate and impact the way an organization functions. By fully understanding a process, program, or project, we help organizations decide on priorities for change—and then implement efficient business processes and programs that our clients can manage on their own. We maintain our focus on increasing efficiency and reliability without sacrificing quality, capacity, safety, or environmental responsibility.
Risk Management & Process Improvement Services
KTL’s risk management and process improvement services include:
- Risk identification, assessment, and risk-based planning and design
- Program and organizational development, improvement, and change management
- Valuation and management of liabilities and asset retirement obligations (AROs)
- Acquisition due diligence and integration process development
- Design, streamlining, and standardization of internal controls and processes
- Incident investigation and cause analysis
- Performance reliability improvement
- Liability estimating and reserve setting processes to support SEC reporting and Sarbanes-Oxley Act compliance
- Consultant/contractor selection and management