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Projects Risk Management

Projects Risk Management includes the processes concerned with conducting risk management planning, identification, analysis, responses, and monitoring and control on a project; most of these processes are updated throughout the project. 1. 2. 3. 4. 5. The Projects Risk Management processes include: Plan Risk Management Identify Risks Perform Qualitative Risk Analysis Perform Quantitative Risk Analysis Plan Risk Responses


Monitor and Control Risks

Project Name: NGSB Objective: Conducting ,and updating during the project life cycle ,risk managements planning, identification, analyze response and monitoring and control the projects Prepared by: Projects managements team Date: Jun 2010 Description of Risk Management Methodology to be used: Our company representative the projects main contractor and to transfer risk our company creates a fixed price contract with the project subcontractor and cost plus contract with the owner Approaches: Due to the project knowledge application and project type ,project subcontractors shall conduct the risk identifications and we shall , review and analyze response and monitoring and control Tools: Expert judgment , planning meeting and analysis to end up by recommendation to minimize the negative impact and maximize the positive impact such as HAZOP,JSA Data Sources: Company strategic plan , enterprise Environmental factors and organize process assets as SIMOP, PMIS ,template ,guide lines ,historical information and learning lesson ,police and standard , project files and risk statistic matrix Roles and Responsibilities: Subcontractor to identify risk probability and impacts Project team and Manger to analyze and evaluate the risk , qualitative and quantitative, HSE manger : Support, review ,updated the company documents and approval the risk submittals Risk Management Plan for: Budget: Calculate the schedule cost , analyze the risk, qualitative, calculate the cost impact and adding the reserve contingency on the cost baseline and managements reserve to the budget requested considering all expected overheads Timing: Risk affect directly the project overall durations, project constrains and millstones should illustrated the risk in the schedule, top managers can follow , monitoring and control schedule compressing shall increase risk to conduct deliverable , Scoring and Interpretation: Data gathering and representation techniques in the attendance of expert judgments ,probability and impact matrix(EMV) Reporting Formats: as per as the approval communication managements plan Tracking: learning lessons shall be collected daily from the project team member , reviewing and investigations, analyze ,and then recorder in the projects archives documents, sorting and retrieve project documents should be conducting during the project life cycle




Higher Risk Low Risk Minimum Risk

1.High Risk : Is intolerable Risk , WORK WILL NOT BE ALLOWED unless the control measures were set to reduce the risk to as low as practical and approved by concerned function GM. 2.Low Risk : Job to be performed with accordance to the approved JSA & simultaneous operations . 3.Minimum: Work to be performed with accordance to Operating Procedures and or the WMM .