Project Risk Management Processes

1. PROJECT RISK MANAGEMENT PLAN 5. DEVELOPING THE RISK REGISTER MODEL 9. QUANTIFYING PROJECT RISK IMPACTS
INTRODUCTION
EFFECTS
In managing big projects it is
inevitable that something will go
wrong. The difference in efficient
project management is addressing
properly the risks and after, taking
successfully the risk response actions.

By risk identification, evaluation and

control, the differences between
initial cost, time and quality
estimations and the real ones can be
prevented or diminished.
2. ANALYZING THE PROJECT SCHEDULE
Increase the project success
probability by aplying the risk
minimization and opportuities
development techniques
6. ANALYSING RISKS THROUGH QUALITATIVE MEASURES 10. IMPLEMENTING RISK MANAGEMENT
MEASURES
For a complex project risk evaluation
should be mandatory. These risks can
• Defining time and cost reserves;
be attributed and measured as
probability of apparition, impact and
• Updating the project execution
consequences.
schedule for preventing negative risks
and quantifying opportunities

• Applying risk prevention measures on

OBJECTIVES 3. CRITICAL PATH ANALYSIS
site
7. EVALUATING PRIORITY RISKS
1. Risk Management Plan • Applying redesign measures for risk
2. Analyzing the project schedule elements
3. Critical Path Analysis
4. Risk Identification Workshop • Performing Field Studies
(negatives and opportunities)
5. Developing the Risk Register Model • Employing specialized personnel
6. Analyzing risks by qualitative measures
7. Evaluating priority risks
8. Defining Risk Reponses Strategies
9. Quantifying Project Risk Impacts 4. RISK IDENTIFICATION WORKSHOP BENEFITS
Effects
10. Implementing risk management TECHNICAL ECONOMICAL COMMERCIAL ORGANISATION socio-political • Anticipating/ avoiding problems
measures ( Defining reserves) • Underground • Costs • Licenses • Government • Authorities
, static, • Fazes • Contracting & • Management • Govern 8. DEFINING RISK REPONSES STRATEGIES • Preventing surprises
dynamic • Evaluation purchases Structure • Parties
• Surface methods • Financing • Resources involved Avoid
Negative
• Infrastructure
• Technologies
• Model
economic
KPIs (NPV,
• Insurance
• Control
• Competences
• Procedures,
• Employees
• Local
RISC Reduce
• Improving negotiation abilities
• Maintenance • Legal standards, legislation Transfer
• Availability IRR, EVA)
• Claims & manuals • Community • Fulfilling contractual obligations
• Sustainability • Legal costs payments • Project Accept
• Logistic Control
• HSSE • Systems, IT Opportunity Accept • Reducing project delays
• Interfaces Exploit
• Partners
• Local Rules Develop • Reducing over budget costs
Transfer

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PROJECT PLANNING & REPORTING SERVICES Guide: Virgil ANDREI PMP, Senior Project Planning & Risk Engineer, Ecostar Plan
PROJECT MANAGEMENT TRAINING PROJECT WORKSHOP