Risk Consulting and Management
Risk is sometimes defined as the effect of uncertainty on objectives.
Risk management is often described as the identification, assessment, and prioritization of risks.
At 3rd Millennium, we seek to coordinate and economically apply resources and strategems to monitor, minimize and control the probability and impact of damaging or catastrophic events on an enterprise or activity. It is our objective to help assure uncertainty does not prohibit the endeavors of our clints from attaining their goals
Risk can come in various forms. It can be uncertainty in financial markets, threats from project failures (at any phase in design, development, production, or sustainment life-cycles), legal liabilities, political risk credit risk, accidents, natural causes and disasters as well as deliberate attack from an adversary, or events of uncertain or unpredictable root-cause.
We see the commercial world through the lens of two types of events;
1) Negative events, which we classifyas risks
2) Positive events which we call opportunities.
Our company feels that time, capital, and emotional energy can be conserved and better utilized pursuing opportunities rather than reacting to the consequences of an event identified as a risk.
While several risk management procedures have been developed, those methods, definitions and goals vary ccording to whether the risk management method is in the context of project management, security, engineering, industrial processes, financial portfolios, actuarial assessments, or public health and safety.
The 3rd Millennium approach to risk, is rooted in the idea that risk is identified and located not only in infrastructural or technological assets and tangible variables, but in Human Factor variables, Mental States and Decision Making.
We feel that in most instances, the most profitable approach is to focus closely on the Human Factor as one of the main drivers for Risk Management. The need to know how humans performand in face of risks make a decision of how, when and where to act.
This approach is commonly called; Safety Training and Crisis Response.
3rd Millennium feels that wrong or incomplete analyses, fake targets, perceptual illusions, unclear focusing, altered mental states, and lack of good communication of risk management solutions makes the Human Factor aspect of Risk Management more potent than others.
Markus Crockett, B.S in Insurance and Risk Management, and an Associate in Risk Management with the Insurance Institute of America, heads our Risk Management team. He is joined by Johnny DiBartolo, who served 10 years as Assistant Risk Manager for the City of New Orleans.
Our partner and greatest resource in our Risk Management practic is Sigma Consulting Corp.
Sigma provides peer review and technical support for our more challenging Risk Consulting and Risk Management projects.
Call us at (800) 936-0705 for more information.