Project Risk Management
Project risk management plan
Content
Executive Summary 2 1. Project introduction 2 2. AS/NZS/ISO 31000:2009 - Risk Management Process 3 2.1. Introduction 3 2.2. Establish context 4 2.3. Identify risks 4 2.4. Analyse risks 5 2.5. Evaluate risks 6 2.6. Treat risks 6 2.7. Monitor and review 6 2.8. Communicate and consult 6 3. Project risk assessment 6 3.1. Inherent risk assessment 6 3.2. Risk distribution 7 4. Risk analysis 8 4.1. Risk Classification 8 4.2. Risk Evaluation 9 5. Risk treatment 9 5.1. Risk treatment strategy 9 5.2. Treatment plan 10 5.2.1. Risk treatment actions 10 5.2.2. Contingency Plan 10 6. Communication and consult 11 7. Monitoring and Review 12 8. Conclusion and Findings 12 9. Use of tools 13
Executive Summary
This risk management plan identifies, assesses and provides treatment plans for constructing high speed train transportation from airport to city in Adelaide. This project is currently owned by the department of planning transport and infrastructure South Adelaide. As a result of some economic factors and environmental factors, this department has justified the decision to build high speed train transportation from airport to city in Adelaide.
To evaluate the potential risks that might occur during the process of the five years long project, it is necessary to analyse the organization, background and stakeholder and preliminarily clarified. For this new transportation project, the comprehensive risk management plan is significantly important because of the project’s involvement in a range of different areas such as planning, design, construction and maintenance.
With the purpose of more specific risks at each stages and activities could be explicitly estimated and evaluated, the work breakdown structure (WBS) is drawn. The risk identification is one of the important parts of this report. Some potential damage of this project will be estimated after
Content
Executive Summary 2 1. Project introduction 2 2. AS/NZS/ISO 31000:2009 - Risk Management Process 3 2.1. Introduction 3 2.2. Establish context 4 2.3. Identify risks 4 2.4. Analyse risks 5 2.5. Evaluate risks 6 2.6. Treat risks 6 2.7. Monitor and review 6 2.8. Communicate and consult 6 3. Project risk assessment 6 3.1. Inherent risk assessment 6 3.2. Risk distribution 7 4. Risk analysis 8 4.1. Risk Classification 8 4.2. Risk Evaluation 9 5. Risk treatment 9 5.1. Risk treatment strategy 9 5.2. Treatment plan 10 5.2.1. Risk treatment actions 10 5.2.2. Contingency Plan 10 6. Communication and consult 11 7. Monitoring and Review 12 8. Conclusion and Findings 12 9. Use of tools 13
Executive Summary
This risk management plan identifies, assesses and provides treatment plans for constructing high speed train transportation from airport to city in Adelaide. This project is currently owned by the department of planning transport and infrastructure South Adelaide. As a result of some economic factors and environmental factors, this department has justified the decision to build high speed train transportation from airport to city in Adelaide.
To evaluate the potential risks that might occur during the process of the five years long project, it is necessary to analyse the organization, background and stakeholder and preliminarily clarified. For this new transportation project, the comprehensive risk management plan is significantly important because of the project’s involvement in a range of different areas such as planning, design, construction and maintenance.
With the purpose of more specific risks at each stages and activities could be explicitly estimated and evaluated, the work breakdown structure (WBS) is drawn. The risk identification is one of the important parts of this report. Some potential damage of this project will be estimated after
References: Department of planning, transport and infrastructure 2011, Department of planning, transport and infrastructure, viewed on 20 August 2012 <http://www.dpti.sa.gov.au/about_us> M. Pennock and Y. Haimes, "Principles and guidelines for project risk management," Systems Engineering, vol. 5, pp. 89-108, 2002 Salah, M, 2011, ‘Managing Risk Course Profile’, University of Adelaide, Adelaide.