Risk Management Implementation

Most of cost over runs or schedules delays in projects, is because of risks which have not been foreseen in projects initiation and planning phases or macro-environment changes and when occur, can have sever effects on project trio-objectives. To avoid schedules delays, a team in planning department of KTC Company took action in identifying general risks and determining best practiced response plans in industrial and automation projects. This article states the risk management process which is planned in KTC to help project managers in handling and controlling their risks.

Keywords:

Risk Management Planning , Risk Monitoring and Control