Risk management and risk minimisation through mitigation measures are a major part of modern projects.
Risk management is a systematic method used for the duration of a project in order to identify, analyse, and decide how to respond to the opportunities and threats that confront the project along the way to its set objectives.
Risk management is employed at all stages of the project. Examples of review processes aimed at finding and analysing threats that could cause accidents involving employees, property damage, environmental mishaps, production loss, or other damage are:
- Risk analysis for projects with the objective of assessing risks and supporting the decision-making process by identifying technology and business risks.
Risk analysis that concerns technology, for example:
- HazID analysis or Preliminary Hazard Identification in the preparation stage
- HazOP (Hazard and Operability Study), FMEA etc. during the design phase in order to improve design.
- Risk assessment associated with health, safety and environmental issues
- Risk analysis is also used to assess the accuracy of cost estimates and timetables (Monte Carlo Analysis).
Verkís has experts in the field of risk management who can define and direct the risk assessment process and interpret the results.