Professional Documents
Culture Documents
THUVARAGESAN THARMALINGAM
CONTENT
• Definition
•
• Risk Management Overview
•
• Risk Management process/methods
•
• Case Studies
• Conclusion
•
WHAT IS RISK?
RISK NEVER SLEEPS
RISK MANAGEMENT
• Identify Risks
• Communicate Risks
• Note Threats and Opportunities
• Prioritise Risks
• Risk Allocation
• Risk Register
• Risk Analysis
• Implement Risk Responses
• Track Risks
•
•
IDENTIFY RISKS
• First step
•
• Two main sources (People and Paper)
•
• Experts
• Brainstorm
ASSESS/COMMUNICATE RISKS
• Project Failure
IMPACT 5 Catastrophic
4 8 12 6
Over £2.5m
4 Major
1 2 1
£1.0 – 2.5m
3 Moderate
2 3 6
£0.5 –1.0m
2 Minor
3 2 2
£0.25 – 0.5
1 Insignificant
2
Less than
£0.25m
1 2 3 4 5
PROBABILITY
RISK REGISTER
• Enhancing communications
R ISK DE SCRIPT ION QUALITATIVE Programme MI TIGATI ON
Activity Risk Category RISK RISK Prob . Impact Rank Impact Rank Action Plan Prob % Action Plan
CAUSE / BASIS EFFECT / CONS 1 - 5 Owner .
EQUENCES 1 - 5
Wire Fencing, Health & Safety Safety of Injuries, 2 5 10 4 8 Applying HSE 70% Risk Manager
alignment, workers. claims, regulation, notice
cleaning of the project boards, PPE, health
site delays. and safety meetings
Concreting (Gross operational Delivery and condition of 4 2 8 5 20 close supervision 70% Site Engineer
beton) pumping of concrete and before and during
concrete concrete not the concreting,
setting vibration properly,
properly well organize
delivery schedule
Placement of Steel Health and safety safety of injuries, 3 3 9 5 15 Use qualified 40% Site Engineer
reinforcement workers in claims and skilled workers, Use
welding and delays protective
cutting the equipment
steel
Waiting for Quality Collapse of Extra cost 3 3 9 4 12 Monitor the 40% Site supervisor
stabilization of the structure of condition of the
concrete repairing, concrete
Removal of Health and safety Safety of the injuries, 3 2 6 2 6 notice boards, PPE, 50% Risk Manager
Columns' workers claims health and safety
Formworks, awareness
Placement of
Formworks for
first floor's slab
Excavation for the Construction Damage of the Extra cost 4 2 8 4 16 specific drawings 60% Project Manager
pool, Development structure and of and well-organized
of permanent foundation of repairing, construction plan
fencing the building delays
Woodworks and Health and safety suspended injuries 2 4 8 4 8 use protective 80% Risk Manager
Painting micro equipment and
particulars, notice boards
air pollution
ANALYSE RISK
• Avoidance (eliminate,
withdraw from or not
become involved)
• Reduction (optimize -
mitigate)
• Sharing (transfer –
outsource or insure)
• Risk Management
Plan
•
• Implementation
•
• Review and Evaluation
of plan
•
CASES (Video – Tacoma
Narrows bridge)
WHAT WENT WRONG?
MILLENNIUM DOME (what went wrong?)
• create value
• be an integral part of organizational processes
• be part of decision making
• explicitly address uncertainty
• be systematic and structured
• be based on the best available information
• be tailored
• take into account human factors
• be transparent and inclusive
• be dynamic, iterative and responsive to
change
• be capable of continual improvement and
enhancement
QUOTES
you are leaping a ravine, the moment of take-off is a bad time to be considering alternative
ohn Clease, British actor, author (b. 1939)