Three Key Areas Where Energy Consultants Mitigate Organizational Risk
Energy consultants free up valuable resources with experience and innovation. With the current adverse market conditions, companies across the energy sector are looking to lower transaction costs and mitigate risks. Experienced energy consultants can perform top-quality business analysis and shape it into fully developed strategies that deliver results. Providing their clients the time they need to make the best decisions in times of transition.
Energy consultants draw on their industry experience—many having held senior executive positions throughout the supply chain and specialized technology firms—to understand the opportunities and challenges of creating and sustaining a value proposition and plan. By combining their commercial business acumen and deep understanding of operations, risk management, and technology, energy consultants ensure their clients’ business strategies are actionable and drive toward value creation.Energy consultants help mitigate risk in three key areas:
- Corporate Governance – Energy consultants provide governance and policy design services structured around each client’s activities, resulting in effective, proactive policies for the board of directors to ensure proper oversight. Because energy consultants deeply understand the industry, they can establish risk tolerance boundaries and develop specific risk profiles. This drives organizational transparency, a shared understanding of business risks, and ultimately, accountability for risk and risk mitigation.
- Change Management – Energy consultants enable their clients to make the right choices at the right times by illuminating the relevance and functionality of new capabilities within their organization – mitigating vulnerabilities and unnecessary redundancies. This allows energy businesses to sustain high performance and profitability by analyzing ways to reduce costs, streamline technology, and think long-term by acting today.
- Energy consultants employ several tactics to effectively manage change:
- Training – combining technological expertise with industry knowledge to achieve higher performance, better management, and increased efficiency
- Communication – developing a plan to effectively deliver key message points and engage the organization around the change
- Human Capital Management – strategically managing the workforce that enables the client to effectively leverage the organization’s human capital assets