Risk Management

No project goes underway without risk assessment as they are inevitable procedures in the
process of project management. Risk assessment involves identifying the risk, responding
and taking mitigation steps to negate or reduce the likelihood of the risks to occur again. The
following table shows the factor shows the factor and level of risk followed by the mitigation
to overcome the risks.
Factor Likelihood of Risk Risk Level
Disputes during land High High
acquisition
Disaster like flood Low High
earthquake etc.
Delay in allocation of Low High
funds
Circumstances such as Low High
accident during
construction, fire etc.
Environmental hazard Medium High
during construction
Delay in approval of Low High
project

Risk Mitigation Likelihood of Risk after Risk level

Mitigation
Paying the concerned Low Medium
organization for using the
land and paying the
revenues to government
for using land
Studying the flood Low Medium
occurrence report and
taking preventive steps
Timely paying the shares Low Medium
and interest of the
concerned organization
Having insurance for Low Low
paying up for damages by
the accidents
Review of environmental Low Medium
impact assessment and
taking environment
friendly steps
To make officials of Low Low
government understand
and review the project
carefully
Reference:

(3) (PDF) Study on Critical Performance Factors Affecting Kochi Metro Rail Project | Editor Ijasre -
Academia.edu