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

6.

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

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6-10

11-20

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 .