London, 1st October 2002. Per4m Ltd, the financial services consultancy, has released the Project Finance Workbench, a collaborative work platform that allows project teams to work together towards the successful completion and subsequent monitoring of projects. This complements the very successful release of the company’s Operational Risk Workbench earlier in the year and focuses on supporting and ingraining a risk management culture at the “front-line,” within individual project finance transactions.
The Project Finance Workbench also addresses the need for an intensive collaborative environment to help teams identify and analyse risk issues in specific projects and subsequently develop optimal risk strategies and mitigants to ensure successful project financing. The workbench can be pre-configured with a library of different risks associated to industry sectors, and this can be added to and amended as risks are identified and monitored. This helps to ensure that all risks are identified and addressed and the entire team is aware of their significance.
Any number of teams and 'projects' can be formed allowing the project finance team to work openly and transparently to determine operational risk factors, capturing the full rationale and reasoning behind decisions as well as the final risk outcomes and mitigants.
The Project Finance Workbench allows teams to:
· co-ordinate all finance activities and make sure that no potential risk is overlooked
· provide a uniform approach to the identification of all risk across a project finance team
· build consistent awareness of risk within teams
· develop more effective collaboration towards risk issues, and establish cross-organisational co-operation
· mitigate ad-hoc problem solving around risk management
· harness the organisation’s risk knowledge and allow the organisation to focus, as one, on the methods of measuring and mitigating such risks
The workbench content is XML-based and collaborative work features include co-editing of forms and documents, IM (immediate messaging (text and audio)), encrypted content stored both locally on the workbench pc and when synchronising with others in the team via a LAN, WAN or via the internet.