RISK MANAGEMENT PROCESS

1. Risk Identification
Construction site and workers are exposed to risk. The contractor must
insured the workers and control the safety of the workers such as using a proper
equipment and procedure.
2. Risk Analysis
The frequency of the situation is rarely but the severity is high. In this
situation, loss of life and property of citizen.
3. Examining Alternative
Risk Financing (Insurance)
The developers have to insurance this construction. If any losses, they can
generate funds to pay the losses. Regarding to this cases, the developers must
insured the workers that working at the construction site.
4. Implementing Risk Management
Provide comprehensive inspection and test plan.
5. Controlling and Monitoring
The risk management must be monitored and controlled systematically.
The construction must be periodically reviewed to ensure that the techniques
employed are suitable and satisfy the conditions.