Risk Management

Question 1

Why is risk management neccesary?

Answer 1

Risk management is neccesary to control the effects of uncentainity on a project.

Question 2

Give examples of where uncertainity can arrise from?

Answer 2

Physical effects (weather), technological effects (is the technology avaliable?), political effects (legislation changes) etc.

Question 3

What is a hazard?

Answer 3

Something with potential to do harm.

Question 4

What is a risk?

Answer 4

The effect of a hazard.

Question 5

What is a risk assessment?

Answer 5

The process where hazards are identified and the risk associated in evaluated.

Question 6

What is risk management?

Answer 6

The process that controls and minimises risk.

Question 7

What are the 4 steps of risk management?

Answer 7

Indentification, analysis, mitigation, monitoring and control.

Question 8

Describe the identification stage of risk management.

Answer 8

WBS or BIM construction sequences can be used to identify risks for acitivties.

Question 9

Describe the analysis stage of risk management.

Answer 9

A risk matrix is used (risk = likelihood x severity) to see how serious the risks are. High risk ratings will require mitigation.

Question 10

Describe the mitigation stage of risk management and some ways of mitigating risk.

Answer 10

The risks are eliminated or mitigated. Methods of doing this include amending design, changing method of work, having subcontractors to do specialist tasks.

Question 11

Describe the monitoring & control stage of risk management.

Answer 11

The identification of who is responsible for monitoring the risk, how often it should be monitored, review risk register.

Question 12

What is the ALARP principle in risk management?

Answer 12

ALARP means ‘as low as reasonably practical’ and refers to the idea that risks shoudn’t be overly mitigated to the point where the safety measures cause inpracticality for little gain.

Question 13

What is a system management system (SMS)?

Answer 13

Provides a basic for clearly satisfying legislation.

Question 14

How does a SMS differ to standard risk management?

Answer 14

It introduces the policy and organisation stages of the risk management cycle.

Question 15

What are the requirements of a policy?

Answer 15

A policy should establish a commitment to improving safety, create a good working culture, be communicated to all employees.

Question 16

What are the 2 levels of management in an organsisation in terms of risk management an what do they do?

Answer 16

Cooperate - sets the procedures that are followed at project.
Project - The people on site that follow the system.

Question 17

What is the hierarchy of control in order of most to least effective?

Answer 17

Elimination - physcially remove the hazard.
Substitution - Replace the hazard with a lesser hazard.
Engineering controls - isolate people from the hazard.
Administrative controls - change the way people work.
PPE - the last resort.

Question 18

What’s the difference between monitoring vs auditing an SMS?

Answer 18

Monitoring is an internal process and auidting is an independant/external process.

Question 19

Why is getting audited independantly good?

Answer 19

Being audited independantly is the most robust way of monitoring an SMS as it is done by someone external who can look at the system with unbiased eyes.