Business Risk Strategies (BRS) is a risk management professional services division of URS.

BRS is the result of a continuing process of innovative improvement that has been fostered by URS and its predecessors for many years. The business began in 1991 with development of a new environmental risk profiling product that was applied for a major mining client. Since that time, BRS has consistently used a client-focussed approach to develop and apply new quantitative methods to create a variety of business risk management products for a very wide range of disciplines and industry sectors.

The RISQUE method

URS utilises the RISQUE method to calculate risk in even terms; complex data is translated into expressions of financial impact to formulate strategies for risk minimisation and sound business decisions.

The method involves identification and quantification of business-related risks using probabilistic techniques to produce quantitative risk data to support rational business decisions. This method has been successfully audited against the joint Australian-New Zealand Standard, AS/NZS4360:1999 Risk Management.

The method centres on the use of an expert panel to identify all substantial risk events, their probabilities of occurrence and the range of potential consequence outcomes (measured in terms such as financial cost, loss of life, or delay period, for example). The consequence information is input to a relatively simple risk model (computer spreadsheet based) which generates outputs over a range of confidence limits selected according to the conservatism of the decision-maker. Risk profiles are generated for the entire business or for any section of the operation, according to the aims of the risk assessment. URS’s method follows a systematic procedure and incorporates uncertainty into the assessment, rather than making simplifying assumptions that ignore inherent uncertainty.

Using a systematic procedure that deliberately focuses on uncertainty in the calculations, the strategic risk team gathers information about your business activities and risks from relevant personnel within your organisation (eg operations, finance, legal, maintenance, HR, HSE). Risk and exposure profiles are then developed from which you can produce a prioritised risk management strategy.

• Gain a clear understanding of your business strategic and operational risks
• Clearly demonstrate due diligence
• Defend risk management actions and plans
• Carry out cost effective risk management actions (i.e. spend your risk management budget where it is needed most).
• Translate complex risk information into financial terms
• Develop a sound basis for financial and regulatory negotiation
• Demonstrate an auditable and transparent risk management process
• Perform a rational assessment of options whether project, divestment or purchase