Contents
Introduction to risk management
Risk and uncertainty
The risk management process
ISO 31000 series
Application of risk management process
Current usage and limitation of risk
management
Development of risk management
Studi kasus dan tugas
References (risk management guidance)
PMI (Project Management Institute) (2017) A Guide to the
Project Management Body of Knowledge. Pennsylvania
ISO 31000:2018, Risk management – Guidelines,
provides principles, framework and a process for
managing risk
APM (Association for Project Management) (1997)
Project Risk Analysis and Management. Norwich Norfolk:
The APM group Ltd
ICE and FIA (Institution of Civil Engineering and Faculty
and Institute of Actuaries) (1998) RAMP : risk analysis
and management for projects. London: Thomas Telford.
AS/NZS (Australian and New Zealand Standard) (1999a)
Risk Management. Standards Association of Australia.
AS/NZS (Australian and New Zealand Standard) (1999b)
Guidelines for Managing Risk: in the Australian and New
Zealand Public Sector. HB 143.
References (books)
Flanagan, R and Norman, G (1993) Risk Management
and Construction. Xford: Blackwell Science Ltd.
Byrne, P (1996) Risk, uncertainty and decision-making in
property development. London: Spon.
Carter, B and Centre, N C (1996) Introducing RISKMAN
: the European project risk management methodology.
London: The Stationary Office.
Chapman, C and Ward, S (1997) Project Risk
Management: Processes, Techniques and Insights.
Chichester: John Wiley & Sons Ltd.
Rita Mulcahy (2010): Risk Management Tricks of the
Trade for Project Managers
Introduction
Risk management is a systematic approach to the
evaluation of a project risk.
It is a life cycle process involving risk identification,
risk assessment, risk analysis, risk response and risk
monitoring.
None of the processes should stand alone, but they
should work together. For example, we should not
just identify risks at the beginning of the project
without analysing and then monitoring them.
To do so would make the project team aware of the
risks which will affect the project, but without
understanding the magnitude of their impact, decision
makers would not be able to take proper actions to
cope with them.
Con’t
The issue of risk management has always
been important in construction projects.
Risks play a significant part in decision-
making and may affect the performance of a
project in terms of its cost, time and quality.
If they are not dealt with sensibly, they may
cause cost overrun, delay on schedule and
poor quality.
Con’t
A construction project is unique, specific and
dynamic, and therefore every project has a different
level of risk and there are different optimal strategies
to minimise those risks.
There are several strategies, namely: avoidance,
mitigation, transfer to another party or acceptance of
the risk.
Because risk management is so important in
construction projects, which are inevitably unique, a
great deal of research has been conducted into a
variety of aspects of the area.
Definition
Project Risk :
Project risk is the cumulative effect of the chance
of uncertain occurrence adversely affecting
project objectives.
Project Risk Management :
Project Risk management is the art and science
of identifying, assessing and responding to
project risk throughout the life of a project and in
the best interests of its objectives.
Why Project Risk Management
The goal of Risk management :
Identify project risk and development strategies which
either significantly reduce them or take steps to avoid
them altogether.
The Purpose of project Risk Management :
Specially identify factors that are likely to impact the
project objective of scope, quality, time and cost.
Quantify the likely impact of each factors.
Give a baseline for project non- controllable.
Mitigate impact by exercising influence over project
controllable.
