Ali Z. Hamadani - Associate Professor Department oflndustrial Engineering Isfahan University of Technology
Kamran Esmaeili Hafshejani - MSc in Construction Management Process Engineer in S.T.P.C
Sorour Abdollahi - BS in Chemical Engineering Process Engineer in S.T.P.C

In this research, it has been tried to collect many issues that S.T.P.C project was encountered with. Moreover, Project risks for S.T.P.C are mentioned through Identified Issues in terms of different phases of the project life time. Based on risk management theories, explained in the literature section, risk assessment is applied for the identified risks. Then, Risks are categorized through risk category matrix by analyzing risk probability of occurrence and risk inlpact on project cost and time. On the following, some mitigation actions have been derived, in forms of recommendations, which are useful to cut down the probability and impacts of risks. There are some fields and areas in associated with the project which can be expanded for typical projects. They have been cited in conclusion section as main sources of project risks. Besides, for next researches, some critical areas are recommended to be followed through Future Research mplementation. Costs of the project due to delays on sub-projects in S.T.P.C, calculated by S.T.P.C accountant as a research in 2006, in comparison with estlnlated project costs, will show the importance of tools and techniques such as Risk Management through petrochemical projects which can be applied to manage project time and cost. Finally, a collection of experiential reconmlendations can be applied for petrochemical plants in Iran for the future.

Project Risks, Project Phases, Time Management