Issues and risks are inherent in all complex efforts. Management of issues in a timely manner and mitigation of potential risks prior to impact are essential elements of the program management function.  “Managed Service Provider” follows a robust Risk Management Strategy for large support programs, the key dimensions of which are given below.

“Managed Service Provider” Risk Assessment process

Following are steps that will be involved in the process of identifying the risks.

• Gather Inputs from clients at all levels.
• Conduct structured brainstorming sessions with the core team and business unit representatives
• Retrieve relevant risks from the “Managed Service Provider” ‘Risk Management Guideline’ document
• Consolidate all risks identified and categorize them
• Review the risks identified with client senior management
• Prioritize the risks and design a mitigation plan.

“Managed Service Provider” Risk Control Process

The risk control processes will involve planning risk mitigation and continuous monitoring of the change in risk profile. The risk mitigation steps will be identified at the beginning of the engagement and the mitigation steps will be revisited at every defined interval.

The “Managed Service Provider” Project management team will perform milestone analysis at predefined intervals and look at the currently listed risks, add any emerging new risks, carry out re-evaluation of the risks and update the profile changes.

www.bestitdocuments.com