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Adverse construction and project management outcomes (Role of risk…
Adverse construction and project management outcomes
Role of risk management steps
Identify, characterize threats
Access the potential severity of impact
Decisions in order to properly prioritize the implementation of the risk management plan.
Determining the rate of occurrence
Identify ways to reduce those risks
Avoidance
Reduction
Sharing
Retention
Determine the risk
Identify potential risks
Find the events that, when triggered, cause problems or benefits
Find the risks through Source analysis
Problem analysis
Scenario-based risk identification
assess the vulnerability of critical assets to specific threats
common-risk checking
Risk charting
Prioritize risk reduction measures
manage and review of risk management plan
evaluate whether the previously selected security controls are still applicable and effective
evaluate the possible risk level changes in the business environment
My thoughts in applying the risk management plan in construction plan
Risk identification
internal risk
manage the stakeholders , designer, contractor etc.
Stakeholders except
to the extent that they are influenced by construction method determined b the contractor
resource risk
lack of material
not enough spare, fuel availability
external risk
weather risk
rain
slippery surface
storms
heavy winds
secure the loose material properly
earth quake
project risk
Time risk
cost risk
work quality
construction risk
political risk
Manage the changes in government
laws of legislative system, regulations
Manage the policy and
improper administration system, etc
Economic risk
Repayment situation in manufacture sphere
Inflation
managing the Refunding
Economic disasters, as
referred to herein
Safety risks
Accidents
human error
fatigue
stress
untrained person
No proper PPE
regular safety inspection to avoid accidents
safety officer routine checks
safety checklist before start of work
injury
collision
human mistake
stress, fatigue
Risk analysis and control
establishes a plan, which reduces or
eliminates sources of risk and uncertainty impact on project
do Commercial insurance;
do Self- insurance
Merger and diversification
do calculations and estimation of the risk
estimate max and possibility and probability of occurrence
Impacts of accidents, fire, theft.
Unpredictable price changes.
Estimating errors, including estimating uncertainty
proper checking and make list
do inspection and follow the company policies
Lack of investigation of predictable problems
Inadequate productivity, cost or change control.
Poor maintenance, security, purchasing, etc
Hierarchical breakdown of risk
break the risk as per the order; weather;market; cost;customer
safety;unavailability of materials; uncertain site conditions