CM 659

CONSTRUCTION
RISK
MANAGEMENT
 ROLES AND RESPONSIBILITIES IN RISK
MANAGEMENT
 ROLE  RESPONSIBILITY
a. PROJECT MANAGER  Promote and direct risk management for the project.
 Performing a risk assessment: Analyzing current risks
and identifying potential risks that are affecting the
company.
 Performing a risk evaluation: Evaluating the
company’s previous handling of risks, and comparing
potential risks with criteria set out by the company
such as costs and legal requirements.
 Designing and implementing an overall risk
management process for the organization, which
includes an analysis of the financial impact on the
company when risks occur.
 ROLES AND RESPONSIBILITIES IN RISK
MANAGEMENT
 ROLE  RESPONSIBILITY
a. PROJECT MANAGER  Risk reporting tailored to the relevant audience. (Educating
the board of directors about the most significant risks to the
business; ensuring business heads understand the risks that
might affect their departments; ensuring individuals
understand their own accountability for individual risks.)
 Populate and maintain the project risk register with risks
developed by functional units.
 Ensure quality of the risk data in the risk register.
 Ensure proactive response to all risks opportunities that will
impact the successful delivery of the project. Track, monitor
and document the effectiveness of risk response actions.
 ROLES AND RESPONSIBILITIES IN RISK
MANAGEMENT
 ROLE  RESPONSIBILITY
a. PROJECT MANAGER

 Schedule and conduct project risk meetings.

 Build risk awareness amongst staff by providing
support and training within the company.
 ROLES AND RESPONSIBILITIES IN RISK
MANAGEMENT
 ROLE  RESPONSIBILITY
b. RISK MANAGER  Responsible for providing the project manager with
recommendations and statuses on risk actions.
 Leading the risk management effort.
 Sponsoring risk identification activities and conduct project
risk meetings.
 Facilitating communication throughout the execution of
the risk management process.
 Track, monitor and document the effectiveness of risk
response actions.
 Compile the lessons learned in the area of risk
management.
 ROLES AND RESPONSIBILITIES IN RISK
MANAGEMENT

 ROLE RESPONSIBILITY
c. Risk Analyst  Evaluate risks.
 Maintain the Risk Management
Database.
 Facilitate communication throughout
the execution of the process.
 ROLES AND RESPONSIBILITIES IN RISK
MANAGEMENT

 ROLE  RESPONSIBILITY
d. Project Delivery Team  Identify and assess risks.
and Task Managers
 Develop responses to risks.
 Document risk response actions and report
to the project manager for inclusion in risk
management updates.
 Communicate with the project manager
about newly-identified risks, risk assessments
and retirement of risks.
 ROLES AND RESPONSIBILITIES IN RISK
MANAGEMENT

 ROLE  RESPONSIBILITY
e. Stakeholders and  Participate in the Risk Management
Vendors
process by providing candidate risk input
and supporting risk mitigation planning and
execution activities.
THANK YOU!