Risk Management Level 2 Flashcards
On the Athlone Fit-Out, whose risk was the cost increases - what was the procurement process? How was it managed and mitigated?
On the Weymouth Retail Project, how was the quality concern dealt with through the risk management process?
Not only through the Design & Build Procurement Route, but through addressing this earlier in the project lifecycle through ensuring robust and prescriptive Employer’s Requirements. This was achieved through inclusion of client specifications and standards of workmanship.
On the Westminster Project, how did the lease agreement review affect the risk management process?
So, I came across an asbestos register from some years prior for this unit on the Client’s Portal. However, the current presence of asbestos was not completely clear. This was added to the risk register, and to mitigate this risk, a management survey was requested.
As a result, the risk then changed to presence of asbestos in the areas by which works were being undertaken. As a mitigation, I queries the client in relation to the agreement with the Landlord, and whether this stipulated the requirement to undertake a strip out as extensive as what was being proposed.
As such, the risk then changed a third time, with the action against the risk developing and the client entered into negotiations with the Landlord. This impacted the risk register in terms of placing uncertainty until the negotiations were bottomed out.
On the Windsor Retail Project, did you consider any delay and disruption to the programme caused by the Queens Jubilee Weekend? If so, how did you deal with these?
How do you quantify and manage cost and risk on small and large projects?
