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New Risk Management in Civil Engineering

The document outlines a new risk management approach for civil engineering projects, emphasizing the importance of expert involvement and accurate decision-making to mitigate risks. It introduces a framework that includes detailed planning, transparency, and accountability, while also providing tools like weekly risk reports and milestone schedules. The model aims to correct unrealistic expectations and empower experts to manage risks effectively throughout the project lifecycle.

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joudatalqadri
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12 views24 pages

New Risk Management in Civil Engineering

The document outlines a new risk management approach for civil engineering projects, emphasizing the importance of expert involvement and accurate decision-making to mitigate risks. It introduces a framework that includes detailed planning, transparency, and accountability, while also providing tools like weekly risk reports and milestone schedules. The model aims to correct unrealistic expectations and empower experts to manage risks effectively throughout the project lifecycle.

Uploaded by

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

Special Topics in Civil Engineering

Northern Border University


New Risk Management Approach
Unique Conditions Are Related

Past Conditions Present Conditions Future Conditions

100% 100% 100%


Event
Natural Laws = Natural Laws = Natural Laws

Unique initial Unique final


conditions conditions

Time (dt)

Unique Final Conditions are Set by Initial


Conditions
Expert Plan
• Detailed schedule from beginning to end
• Expertise used in areas where there is
insufficient information
• Risk that cannot be controlled [requirements]

Lack of Lack of
Expertise Expertise
Info Info Deliverables
[metrics]
Risk
Mitigation
Plan
Risk
Mitigation
Plan

Milestones [metrics]
5
Traditional Risk Management Model
Decision-Making as a Source of Risk

Lack of Information Unrealistic Expectations Decision Making Risks

Risk is when people inexactly perceive the initial conditions.

When decision making goes down, risk goes down.


Risk is decreased through the following:

• Finding the expert who can precisely identify the initial conditions.

• Allowing the expert to identify if client’s expectations can be done.

• Reducing attempts to manage the event by using experts and

preplanning.

• Allowing the expert to have control over their own event.


The New Risk Management Model
The New Risk Management Model will have to meet the following
conditions:

• Decision making must be reduced.

• Unrealistic expectations must be corrected by the service experts

• Experts should be given authority and responsibility to control and


manage risks

(the contractor should have control to identify the risk, document it, and to reduce
its impact)
New Risk Management Model

Utilize expertise

Detailed pre-planning

Transparency

Accountability
Practical Framework of New Risk Management

Schedule & Milestones Table

Project Deviations Table


Performance Table
New Risk Management Model
Weekly Risk Report Pages
• Setup
• Risk Mitigation Plan
• Risk Sheet
• Cost modifications
• Time modifications [milestone schedule]
• Performance metrics
Project Setup Page

Main Points
• Includes basic project information.
• Project start date, completion date and awarded
cost, should be the initial project dates and cost.
• Contact Information should include all critical
members of the project for client and vendor.
SOW

Main Points
• Identifies SOW
• Major Deliverables

18
Progress Report

Main Points
• Weekly update on progress of project
• Identify anything stakeholders need to be aware
of
19
Milestone Schedule

Main Points
• Schedule should be for non-technical users.
• “Actual Schedule” and “Initial Schedule” should
be the same unless a deviation has occurred.
• Any deviation from the initial schedule should
have a Risk Sr. # to explain deviation
Risks Page

Main Points
• Only risks that actually occur should be recorded on this page.
• Risks that have not yet occurred should be documented on the
RMP page.
• Client Satisfaction should be approved by the POC for the client.
21
Risk and Deviations
Report Page

Main Points
• Summary of project performance.
• Current completion date and budget
is calculated from initial project info
on the project setup tab and
deviation documented on risks tab. 23

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