Risk Management
Risk is the weighted display of the possible results and outcomes associated with them.
The components of risk management:
- Identification
- Analysis of the risk impact
- Respond planning to risks
- Risk decreasing
- Monitoring and risk management
Risk management in our company consists of 9 steps included in the draft:
- Use the process of identifying risks for drawing up the list of risks, which threaten the project
- Make sure that all major risks of design, are presented in the list of risks
Hold a training for each risk:
- Give a name and a number
- Conduct a brainstorming session to identify the indicators of risk event occurrence
- Assess the impact of the cost and the schedule of the project
- Assess the probability of occurrence
- Calculate the risk exposure in relation to the schedule and budget
- Determine beforehand what measures will have to be taken, if and when risk event occurs
- Enable actions of risk mitigation in the General plan of the project
- Write out all the details in a special form
- Specify possible catastrophic risks as the assumptions of the project. Determine the delegation of managing each of these risks to the senior management
- Make the first approach to the assessment of the schedule, on the assumption that none of the risk will materialize
- Use our own and industry factors of uncertainty for the risks diagram of cross at the point of N
- Express, using a diagram of risks, all liabilities to the project, showing the uncertainty associated with each of the planned date and the budget in an explicit form
- Track all the risks on the subject of their occurrence or disappearance and implement contingency plans every time, when risks occur
- Track all the risks on the subject of their occurrence or disappearance and implement contingency plans every time, when risks occur
