Challenge - Innovate - Deliver
riskHive have a broad experience of the application of risk, opportunity and scenario analysis using their proprietary 'MetaFlex' technology to investigate, stress-test and analyse bespoke or customer models. Below are some examples of how we have assisted our customers maximise their potential utilising riskHive applications.
Cost reduction - Aircraft Manufacturing
riskHive integrated their analysis engines into the company's 'transnational framework' enabling risked design parameters. This work was extended to address cost-reduction opportunities and help define a multi-faceted strategy for the saving of billions of euros over a fixed period. There are 12,000 users of the framework in five countries.
Business case analysis - Central Government
riskHive carried out a verification and validation exercise on the financial plan for a multi-billion pound IT based government project. The consultancy identified serious flaws in the 3rd party financial model using the riskHive diagnostic tools which were able to be fixed, reducing the nett present cost of the project by many billions. Statistical 'confidence-based' options data and reports and produced which were used in the final pricing of the submission.
Loss adjustment analysis - Big 4 UK retail bank
riskHive executed a risk-based forecast for potential loss accrual for one of the big 4 UK retail banks. The activity reduced the range of the previous forecast by some 50% (for 80% of the potential outcomes) and helped set the capital reserve requirements for their group forecast. The projected figures have come in at expected value, freeing-up tens of millions of pounds of CR half way through the financial year which can be reused more effectively.
White Paper: Risk is not a four-letter word, by Ian Baker for MRI/Accenture
Corporate governance may be regarded as a burden or an opportunity. Effective risk management is integral to successful corporate governance. New expert systems and knowledge-based systems can help manage both people and processes to move organizations toward regulatory compliance.
Article: 'Smart risking' in cost engineering at the MoD
Article: Internal business plan validation - medical device mfg