Risk management services
When it comes to risk management services, we have the knowledge and expertise to help our clients navigate complex challenges and seize opportunities. We work closely with our clients to identify and prioritize their most pressing risks, and provide them with the best possible solutions. We can help you identify, analyze and manage the risks associated with your current and potential investments, and we can help you identify and manage the risks associated with your operations and operations-critical functions. Our clients come to us for our depth of experience, our ability to understand their unique needs, and our demonstrated ability to deliver results.
Proactive Risk Management
As a business, you’re constantly managing risk. You need to plan for worst-case scenarios, like a key employee leaving or an important client turning down your latest offer. But in today’s climate, where a single decision or action can have far-reaching consequences, it’s easy to miss a risk somewhere along the way. That’s where proactive risk management comes in.
Proactive risk management is an approach to managing the risks of an organization’s operations and supply chain in order to minimize the impact of a potential crisis on the business. It involves identifying and assessing the potential vulnerabilities in the supply chain and operations, and taking steps to prevent an incident from turning into a crisis. When an organization employs a proactive risk management strategy, it can strengthen its resilience and resilience to crisis. It also allows the business to better respond to a crisis when it arises.
The purpose of this is to introduce you to proactive risk management, a process for identifying and mitigating potential risks as soon as they appear instead of waiting for a crisis to occur. This approach helps organizations learn about risk management consulting services and avoid the costly and time-consuming process of managing a crisis. It also improves the quality of decisions made in the moment and helps organizations avoid the worst-case scenarios.
This document will cover the following topics:
•How proactive risk management works
•The five phases of proactive risk management
•Examples of proactive risk management in action Intro Background. The purpose of this is to introduce you to proactive risk management, a process for identifying and mitigating potential risks as soon as they appear instead of waiting for a crisis to occur.
At Narogate Safety Group, we place more emphasis on Leading Indicators and assisting our clients in staying ahead of the curve. We are experts in empowering clients to be proactive rather than reactive. This is not to minimize the importance of Lagging Indicators and the value of accident investigation, root-cause analysis, corrective actions, and determining how to prevent the reoccurrence of injuries. This is also important in developing a positive safety climate. We feel the best way to manage client losses is to prevent them before they occur, when possible.
If there is any concern regarding pricing, I educate my clients on these facts. The total cost of work injuries in 2019 was $171.0 billion. This figure includes wage and productivity losses of $53.9 billion, medical expenses of $35.5 billion, and administrative expenses of $59.7 billion. The average Direct cost per medically consulted injury – is $42,000.00 (WC Claim). The Indirect costs of that one injury will average three to ten times that, depending on the injury, so taking the low estimate of $126,000.00. Indirect costs include the value of time lost by workers other than those with disabling injuries who are directly or indirectly involved in injuries and the cost of time required to investigate injuries, file, and support claims, write up injury reports, etc.
If we can eliminate just one injury and claim by implementing the above measures, NSG has not only justified our costs but saved or made our client’s money. A client who has Narogate Safety Group conduct the complete initial loss control service, along with ongoing monthly service, will spend $27,000.00 annually. If we can eliminate one WC claim, we have saved at least $15,000.00 in direct costs and just under $100,000.00 in indirect costs. Investing in the initial and ongoing monthly services outlined above will pay a return on investment (ROI) of $2 to $6 for every $1 invested. In summary, we simply pay for ourselves with what we do.
I want to take this opportunity to thank you for the opportunity to assist with your loss control and prevention efforts. Should you have any questions or comments, please do not hesitate to contact us.
Risk Management Service
We’ve come to understand that much of our success as a company is tied to our ability to manage risk. A risk is a potentially negative outcome, often in the form of a loss, that could occur if a specific situation or action occurs. For example, the risk of having a power outage today is that it could result in a lack of power for our customers. Our ability to identify, measure and manage these risks is what allows us to be flexible and resilient and to deliver a great experience to our customers every day.
Construction Risk Management Services
Construction risk management is the process of identifying, assessing, and mitigating risks inherent in construction projects. By identifying and addressing risks early on in the project, construction companies can avoid costly delays and disruptions later on.
There are a variety of risks that can impact construction projects, from weather and site conditions to project scope and schedule changes. A good construction risk management plan will take all of these factors into account and develop strategies to mitigate them.
If you're looking for help with construction risk management services, we offer services to help you plan and execute your project. We can help you identify risks, develop mitigation strategies, and monitor the project for changes that could impact risk.
Construction Risk Management Consulting
Construction Risk Management Consulting (CRMC) is a risk management consulting firm that serves the construction industry by providing expert advice and employing risk management best practices.
We are helping the construction industry around the world to mitigate risk, by applying our construction risk management (CRM) framework and expertise in building risk mitigation consulting to a broad range of commercial and non-profit projects, including large-scale infrastructures.
We help clients achieve mission-critical programs by providing 360-degree risk assessment, contingency planning, and foresight. Our risk consulting services are an integral part of delivering creative, customized results so our clients can better achieve their goals. Our team is a trusted advisor to many of the world's leading brands and helps them manage risk before it happens.