Risk Management

For over three decades, ARES has provided risk management support for a wide range of technically complex, high-risk challenges in the defense, aerospace, and nuclear industries.

Thorough understanding of risks and available mitigations provides a powerful tool for effective decision-making and optimized resource allocation. We weave our proven risk management expertise into everything we do, integrating unparalleled qualitative and quantitative assessment techniques, effective risk identification and communication processes, and easy-to-understand visualization tools that help our customers make decisions with their eyes open. We empower every employee and subcontractor to participate in the risk management program, ensuring that our customers can extract the maximum value from this powerful tool. The ARES Risk Management approach encompasses two complementary elements: Continuous Risk Management (CRM) and Risk-Informed Decision Making (RIDM).

Continuous Risk Management (CRM)

The closed-loop CRM process involves five steps: Identify, Analyze, Plan, Track, and Control. Through this well-defined process, ARES helps our customers understand their risks, develop actionable mitigations, and track those activities to completion. CRM is a mindset we instill into each activity, creating a risk-aware environment that promotes early identification, comprehensive analysis, and realistic, cost-effective mitigation strategies. The CRM process defines how we operate, ensures that we investigate and prioritize risks, and collects the data necessary to make informed decisions.

Continuous Risk Management

Risk-Informed Decision-Making (RIDM)

Programmatic and engineering decisions – everything from supplier selection to technical trade studies to top-level budget and schedule decisions – should begin with a risk assessment. Only through a detailed understanding of risks and associated consequences and likelihoods can effective management decisions be made. Programmatic resources – whether funding, personnel, or technical performance metrics – are by definition limited. Allocating precious resources to a low-likelihood event may not be in the customer’s best interests. Accurate understanding of the risk impacts and likelihood is critical to effective decision-making. ARES categorizes risks according to key evaluation factors (cost, schedule, technical, and safety), and analyzes the likelihood and consequence of each risk. This information is used to formulate decision packages for leadership, enhancing the likelihood of mission success.

ARES Risk Tracking System (ARTS)

ARTS is the go-to choice for an efficient, tailorable risk management tool that doesn’t break the bank. Developed originally for our NASA International Space Station customer, ARTS facilitates tracking of risks and opportunities, providing features for risk scoring, mitigation plan development, process workflows, and reports. ARTS is built on the flexible Atlassian Jira platform, facilitating integration with management and task tracking processes. Jira also provides tailorable workflows and fields that can be modified without software changes, creating a future-proof solution on a platform that is already approved for use at most agencies. ARTS can integrate directly with existing Jira implementations, providing significant cost savings and synergies.

Creating Opportunity through Risk Insight

CRM and RIDM, supported by a data-driven risk information system like ARTS, underpins an efficient, high-performing organization capable of accomplishing even the most challenging mission objectives. With a focus on risk, organizations can make better decisions faster, allocate limited resources to maximize the chances of desired outcomes, and ensure they are poised to take advantage of opportunities as they arise.

Click here for more information on our Safety and Mission Assurance capabilities, including Probabilistic Risk Assessments.