Risk assessment is the method by which all risks associated with
design, construction and operation of a facility can be identified
and then prioritised. Risk management can involve, depending on
contract definition, the complete procedure or the management of
those risks identified in the risk assessment.
This systematic approach involves a team effort
encompassing the client, designers (of all relevant disciplines)
and contractors in identifying risks at an early stage and
determining actions to be implemented either in the eventuality of
an occurrence or actions to be taken to minimise the probability of
that risk occurring. While the risk management process itself, once
setup for a particular project, is fairly straightforward it is
important that inputs to that process cover all relevant avenues
and are provided by qualified staff.
For any project, it is necessary to determine the effects of a
particular risk and to understand its potential impacts at all
stages.
Initially, hazards to the project need to be
identified and the causes of those risks determined. Hazards may be
physical such as damage or non-physical such as late completion
with knock on financial implications. Every hazard will have a
cause and a likelihood of occurrence.
This combined with a severity category, for instance, personal
health effects or impact on local infrastructure, enables
hazards/risks to be tabulated, risk control measures and the owner
of that measure to be identified. A live risk register can then be
produced and maintained.
Tannur Dam
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