In this section
The KLM Partnership is experienced in the use of various alternative Risk Management techniques and carry out this function on a regular basis for a number of clients.
All projects involve risks and it is important to identify and quantify the risks associated with each project, having regard for both the project / site constraints and the proposed procurement option. The identified risks are then evaluated in broad terms of time, cost and quality through a Project Risk Register and a decision taken as to how to respond to them.
Alternative responses include:-
- Reduce the risks by considering alternative options
- Retain the risks if that is the cost effective option
- Transfer the risks to another party
- Insure against the risks
- Avoid the risk if possible
- The identified risks will be managed through the use of structured risk assessment pro-formas with a
- Risk Management Report included in the regular reports to the Client and Design Team, all co-ordinated by our Risk Manager.
Depending on the nature and size of risks identified further Risk Analysis can be undertaken using sophisticated computer simulation techniques.
As a general principle risk should be placed with the party best able to deal with it and with the best motivation to minimise it. We believe it is essential that risk management becomes a team activity with clear identification, responsibility and ownership of all risks to the project.