NRC (IAR) – Moving Forward

      As a part of a corporate ERM (enterprise risk management) initiative, this organisation was looking to introduce a systematic risk management approach into its applied research program and test facility operations.

      Acuratek and its partners established two main objectives, the first being to determine how ERM could be implemented at the business unit level. Secondly, they set out to demonstrate how ERM processes could be applied to research program and project planning, linking in with the business unit’s quality management system and to anticipate problems and set priorities. In order to attain these objectives, four main approaches were put in action:

1.       Develop the business unit’s risk register through the gathering of background information on the business unit’s operational and external environment.

2.       Transmitting basic knowledge in risk management concepts to executives, managers and key employees.

3.       Enable the assessment of NRC’s risk exposure

4.       Implementing a full ERM through the development of practical strategies.

This ERM pilot demonstrated that the business unit managers were most preoccupied with managing risks at the project level, thus a project risk management module (PRMM) was conceived and tested. This involved the organization’s in-house staff and one of their principal clients.

       NRC’s project management processes were adapted to include the PRMM in order to obtain a higher efficiency enabling the business unit to save time and resources with better alignment to its clients needs.

STM – Getting Priorities Straight

     In 2003, a decision was to be made concerning the appropriate timing for the replacement of existing MR-63 metro cars deployed by the STM. In line with this choice, Acuratek was mandated to conduct an enterprise-wide risk assessment to evaluate the risks associated with maintaining the status-quo or delaying the replacement project.

      A collection of roughly 30 risks and their definitions were developed. Through workshop exercises such as self-evaluation and interviews with STM officials from all business units, these risks were narrowed down to a group of more important and likely occurences. Acuratek and its team followed up with recommendations reflecting the possible consequences of delaying the MR-63 car replacement.

      In short, Acuratek’s findings and recommendations ensured that the STM remained reliable and efficient, upholding their client’s satisfaction. Moreover, the corporation maintained its image and secured its revenues.