Project Risk Management

Risk Manager

A Project Risk Manager manages the project risks within a project team. They are responsible for identifying, defining, qualifying, and quantifying project risks. Selection of risk strategies and development of risk response plans also form part of the role. Risk Managers are especially valuable to clients executing large and complex capital projects where risks proliferate quickly.

  • For major capital projects a full time Risk Manager is recommended.
  • A Risk Manager can manage risks across all projects, programmes, and portfolio of projects.
  • Project Risk Management is a specialisation subject and requires qualified, certified, and experienced Risk Managers.
  • A Risk Manager can assist businesses and project teams with identifying and managing project risks on a part time basis.

Key Functions

Develop and maintain the project risk management plan and a risk register.

Define and identify risks through formal/informal workshops, meetings, and conversations.

Develop risk cost and time contingencies with the Project Manager and team

Quantify and qualify risks using company standard/leading international practices

Manage and control risks, select appropriate risk strategies, develop, and execute risk response plans.

Maintain project risk documentation and report the project risks status to stakeholders.

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