Risk response plan acoording NRM2

2024-07-14T08:58:17Z

Maged Elkhashab: Created page with "* Risk Response Plan # Risk Acceptance or Risk Retention: * It is the risk which is accepted and still under control also budget. * Low Probability and low impact. * We can dea..."

* Risk Response Plan

# Risk Acceptance or Risk Retention:

* It is the risk which is accepted and still under control also budget.
* Low Probability and low impact.
* We can deal with this type of risk by reserve at risk or contingency plan. (Not sure)
* We call it at NRM “Employer Residual Risk” or (Risk allowance) at the cost plan

# Risk transfer:

* Pass the risk to another party who is known for better control.
* Done by Subcontracting or Contractual Provisions.
* Used at specialized works and risks with medium severity.
* Example:

# Risk Mitigation or Risk Reduction:

* Risks Which we can reduce its impacts or probability to occurs. (Chance to reduce)
* The risk after transferred should be at acceptable threshold.

# Risk Avoidance:

* Risk Can be awarded / avoided by removing the source of the risk.
* Can be by:

# Change Management plan.
# Decrease the scope of the project.
# Extend the project Schedule.
# Reappraisal the study of the project.

* Usually for high probability and high impacts.

# Risk Sharing:

* Occurs when we failed to transfer the risk, then he will share the risk with other party.” Sharing ratio”.

# Risk Enhance: Positive risk only

* Increase the opportunity of the positive risks by increase the impact or probability.

# Risk Exploit: Positive risk only

Do any thing to ensure that the opportunity of the positive risks will happen 100% by increase the impact or probability

Designing Buildings - User contributions [en]

Risk response plan acoording NRM2