Risk Assessment and Mitigation Plan

Instructions:
Step 1: Brainstorm possible risks.
Step 2: For each risk, assign a High/Medium/Low value for both likelihood of occurrence and potential impact on the project.
Step 3: evelop a mitigation strateg! for each High/High, High/Medium and Medium/High risk.
"onsider developing mitigation strategies for the Medium/Medium risks.
Risk
Probability
Potential
Impact on
Project
Success
LM!
Likeli"ood
o#
$ccurrence
LM!
Mitigation Plan
strongly recommended #or !!% !M and
M!
recommended #or MM
#. Building ma! fall down in occurrence of earth$uake M H H %eismic retrofit to secure building premises
&. Health ha'ard due to asbestos H H M ( respirator fitted with a
)*+%H #,, -H./(0 filter should be worn
to provide a basic level of protection.
1. High Financial 2hreat L M M *nsurance of building can be done to avoid a
great loss
3. %tructure of the building might disrupt during the
renovation as there will be installation of mechanical
e$uipment like chillers etc.
M M M /re4inspection of delicate areas so that
disruption can be avoided
5. 6orkers ma! be affected b! Histoplasmosis -7espirator!
disease0
M H M /recautionar! measures like respirator!
masks can be used to tackle this matter
8. /roject duration can be prolonged if there is some
undesired emergenc!
M M L .9tra labor should alwa!s be read!
:. /resence of 7adon as a health ha'ard L M L %afet! measures and pre4assessment can
save the trouble.
;.
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