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Automated Parking

This document discusses risk management for an underground parking project. It identifies key risks like construction issues, mechanical or electrical failures, and software problems. The risk management process includes identifying risks, assessing their likelihood and impact, developing response plans, and ongoing monitoring and control. Specific risks addressed include delays, cost overruns, resource issues, and accidents or damage. Risks are scored on a probability-impact grid and assigned to individuals for response planning and mitigation to help achieve project objectives on time and on budget. Regular review and reporting is important for ongoing risk control.

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love
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265 views10 pages

Automated Parking

This document discusses risk management for an underground parking project. It identifies key risks like construction issues, mechanical or electrical failures, and software problems. The risk management process includes identifying risks, assessing their likelihood and impact, developing response plans, and ongoing monitoring and control. Specific risks addressed include delays, cost overruns, resource issues, and accidents or damage. Risks are scored on a probability-impact grid and assigned to individuals for response planning and mitigation to help achieve project objectives on time and on budget. Regular review and reporting is important for ongoing risk control.

Uploaded by

love
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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RISK MANAGEMENT UNDERGROUND

PARKING

Presented by: Love Bhardwaj


Risk Manager

Risk Management
What we aim to achieve

Achieve the project objective with in scope,


budget and time.
Increase the brand value of our company, to
make it a company to crave for.
Increase the profits for all the stakeholders
involved
Enhance the growth.

Risk Management EPROLS

Risk Identification

Assessment

Response plan

Surveys
Brainstorming
Checklists
Data analysis

Scoring
Probability of
happening
Impact of risk
Prioritizing

Avoiding
Reducing or
mitigating
Sharing/Transfer
Accepting

Control and
Monitoring

Regular
reporting
Looking for
abnormalities
Audits

Risk indentified in the identification phase were


categorized
Slide Titlemainly in three main categories
Construction

Mechanical

Software

Electrical and electronics

Types of Risks
Construction
Risks

Financial Risks

Performance
related risks

Security

Physical

Political and
Social

Organizational
Risks

Contractual
and Legal

Software
Related Risks

Consultants

Effective risk management


requiresand Accenture deliversa
unique combination of functional
depth; industry knowledge;
technology skills such as data
mining, risk analytics and systems
integration; and business
transformation experience. Each of
these strengths is vital to helping
companies enhance risk-focused
decision making; model and analyze
business information; develop early
warning solutions that can detect
emerging threats and opportunities;
embed risk management capabilities
across the organization; and help
organizations transform risk
management into a growth-enabling
capability and a source of
sustainable competitive advantage.

Each project has its own


specific construction risks
which need to be identified
and addressed. Whether its a
P3 toll road development, or
an addition to an existing
hospital, Aon has the processes
to create the optimal
construction insurance
solution. Our leadership in the
construction insurance
industry allows us to provide
you with the solutions that will
minimize construction risk and
maximize profit.

Sigma Risks engineers are both


former project engineers and
certified PMI Risk
Management Professionals
(PMI-RMP). We are
experienced and confident in
applying the PMI framework
and other project risk
management frameworks to
projects of all shapes and sizes,
be they construction projects,
new technology development
or mergers and acquisitions.

P
5

Accidents,

Damage to property,
injury to someone

Change in Work,
development of new
technology
Changing
system
requirements

Availability of resources,
commissioning of
equipment and software

Increased
cost of
testing, cost
over run

Short Circuit

Unclear system
requirements

Geotechnical
difficulties,
inflation,
Reduced
Funding

Delay in Designs,
productiveness of labor
force, Delay in dispute
resolution

Loose wires

Corruption, Assault,
Intrusion,
inexperienced staff,
inconsistent scope,
schedule, budget
estimates

Failure in
troubleshooting
software,
inability to meet
approval
requirements

Site access,
environmental
laws

Dispute bet contractor


and sub-contractor,
Natural Disaster, loosing
critical member of team,
inaccurate estimates

Vandalism, public
disorder

Flaws in Design,
terrorism

Example of Risk Assesment


Risk

Impact

Deviation in work

Change of
scope
budget and
time

Likelihood
of
occurrence
(1-5)
5

Degree
of
Impact
(1-5)
5

Action trigger

Responsibility

Response plan

Demand of
change by
sponsor

Paul

Change the
baseline
plan
accordingly

Geographical difficulties

Change in
Work plan

Red flags in
geographical
survey

Salini

Use better
technology

Site access

Delay in
Work

Closure of
entrance gates

Salini

Alternative
solution

Delay in constructional
designs and project
instructions

Increase in
budget

Exceeding
deadline

Salini

Use the
slack
available

Availabilities of resources

Stretched
Schedule

Use of reserved Paul


resources

Contact
possible
suppliers

Increase in cost of test


and gathering samples

Commissioning of

equipment and software

Inflation or change in
economy

Exceeding the Omar


allocated
budget

Use the
available
reserve

Missing the 3
final
deadline

Failure in
final testing

Omar

Find and
correct the
error

Increased
budget
reduced
scope

Increase in
cost

Omar

Use reserve

Use extra
resources
available

Increase
security
Inform
police

Increased
budget

Throughput of labour
force

Stretched
1
budget and
schedule

Missing the
set deadline

Vandalism

Unanticipat 1
ed loss

Destruction
of property

Richie

Control and Monitor


I.
II.
III.
IV.

Look
Respond
Monitor
Review

Keeping an close eye, on any abnormality or anything that can have a negative
impact on the project. Anything that can hamper the project directly or indirectly.
Be proactive rather than being reactive. Respond as soon as possible to keep the
risk from growing . Implement a plan to curb the risks.
Keep a check on mitigated risk, compare with previous reports. So as to monitor any
change. Report Regularly. Review the lessons learned, to keep on growing.

By keeping all these points in mind risk can be controlled and will be crucial in
making project successful.

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