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TOP TEN RISK
Transcript of TOP TEN RISK
Risk Flowchart & Procedure
Risk management should be implemented integratedly to achieve PPI’s goal
Corporate Risk Management consist of all Project Risk Management and would be management considerations of any decision making in project implementation.
All possible risk that may have an impact to the project including unforeseen risk should be clearly identified, analized and evaluated continuously.
Determine mitigation methods for each potential risks that are likely may affect the continuity of project implementation.
To be well implemented, PPI management shall provide and allocate qualified resource including continuously competence improvement of the human resources in the field of risk management.
Risk Consequences are defined based on three key project elements (Cost, Time and Quality). Similar to Likelihood, Consequences of a risk occurrence will be in scale of 1 to 5; where 1 will have insignificant impact on overall project performance and 5 will have catastrophic impact on the project performance.
Effectiveness of risk controls are ranked in 4 categories based on effectiveness of its risk reduction measures.
RISK MANAGEMENT IMPLEMENTATION
Risk likelihood is defined based on likelihood of risk occurrence during project lifecycle. Likelihood of a risk is defined in scale of 1 to 5 where 1 will be the least likely risk with chance of occurring less than once during project duration and 5 will be the most likely risk with chance of occurring more than once over a month.
Indonesia Port Developer
Risk Communication and Coordination