Construction Risk Management
Learning Objectives Understand what risk is and the importance of good project risk management.(proje risk yönetiminin önemi nedir) Discuss the elements involved in risk management planning and the contents of a risk management plan.(Risk yönetimi planlaması dahil elemanları ve risk yönetim planının içeriğini tartışır.) List common sources of risks.(Risklerin ortak kaynakları listeleyin)
What is Risk? The likelihood (probability) of occurrence of an undesirable event that will have an impact (positive or negative) on objectives A possibility of loss – not the loss itself!
Types of Risk 1- Negative Risk 2- Risk Can Be Positive >> risk involves understanding potential problems that might occur in the project and how they might impede project success. 2- Risk Can Be Positive Positive risks are risks that result in good things happening; sometimes called opportunities.
What is Risk Management? Is a systematic method of identifying, analyzing, treating, and monitoring the risks involved in any activity or process.
Project Risk Management Processes
Project Risk Management Processes STEP 1:-Risk management planning:- Deciding how to approach and plan the risk management activities for the project. Outputs are:- Methodology(tools, techniques) Budgeting(establishing a budget) Role and responsibility(responsibilities determines) Timing(when P.M. risk will run) Threshold(at which level of risk, process will run And by whome) Contingency plans(a secondary plan)
Project Risk Management Processes STEP 2 : Risk identification: Determining which risks are likely to affect a project and documenting the characteristics of each. There are two types of Risk:- 1- Internal Risk 2-External Risk
Project Risk Management Processes
Project Risk Management Processes STEP 3 : Analyzing and Assessing of risk:- deals with the causes and effects of events which cause harm. The aim behind such analysis is a precise and objective calculation of risk. Methods of Risk Analysis:- 1- Qualitative risk analysis(nitel): Prioritizing risks based on their probability and impact of occurrence.
Project Risk Management Processes
Project Risk Management Processes Methods of Risk Analysis:- 2- Quantitative risk analysis(nicel): Numerically estimating the effects of risks on project objectives.
Project Risk Management Processes
Project Risk Management Processes STEP 4: Risk response planning: Taking steps to enhance opportunities and reduce threats to meeting project objectives. By the following techniques:- Risk avoidance(eliminating a specific threat, usually by eliminating the cause.) Risk transference(transfer to another owner or subcontractor…etd) Risk mitigation(providing more sources, time, better working team) Risk acceptance(……………………….)
Project Risk Management Processes Step 5:- Risk Monitoring and Control Process:- Monitoring identified and residual risks, identifying new risks, carrying out risk response plans, and evaluating the effectiveness of risk strategies throughout the life of the project.
Results of Good Project Risk Management good project risk management often goes unnoticed. Well-run projects appear to be almost effortless, but a lot of work goes into running a project well. Project managers should strive to make their jobs look easy to reflect the results of well-run projects.
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