A survey conducted by Wideman, ( 1992 ) outlined that, see on many undertakings reveals hapless public presentation in footings of making range, quality, clip and cost aim as a consequence of hapless public presentation of undertaking direction. Therefore this research methodological analysis intends to measure how we can place, implement and pull off the necessary procedures in edifice building undertaking hazard direction system whiles supplying grounds on how the PM can better hazard direction public presentation in footings of making quality, clip, and cost aim within the executing stage. These inquiries will be outlined and the necessary processes together with their execution schemes which can heighten edifice building industry to accomplish excellence will besides be discussed.
Cardinal words: Hazard, Risk Management, Risk Management Process, Execution Phase, Excellence, Project Manager, Management & A ; Implementation.
Part II-DISSERTATION Introduction In other to accomplish success in every undertaking within the executing stage, Risk Management system must be good implemented merely because ; you can non accomplish quality in a undertaking without doing proper execution of hazard direction. Risk direction is all about being able to place hazard, doing analysis on the hazard every bit good as doing proper planning on how the hazard can be tracked in other to command them. To accomplish excellence in edifice building within the executing stage, the function of experience PM can ne’er be overlooked since rawness of PM leads to hapless public presentation of undertaking bringing as consequences of unanticipated events due to put on the line and this should be avoided. It has been analysised and confirmed in the literature reappraisal that, a company with proper effectual execution of hazard direction modern tools and techniques which is one of the best patterns is likely to accomplish undertaking success. Therefore hazard direction is wholly concern of puting the necessary rules and processes that will enable the edifice building industry to accomplish undertaking success within the executing stage.
In position of this, the first measure of this research will do critical analysis of ”How can we place, implement and pull off the necessary procedures in edifice building undertaking hazard direction system ” ? Within this phase, all the necessary procedures will be outlined harmonizing to the literature reappraisal. After the designation, their execution and the direction procedure will besides be outlined. This done, the following measure of the research will stress on the 2nd research inquiry therefore ”How can we better hazard direction public presentation in footings of making quality, clip, cost aim and Project direction within the executing stage ” ? This inquiry will put down the steps and rules which must be seting into topographic points by the PM in other to better hazard direction public presentation in footings of making quality, clip, cost aim and Project direction within the executing stage.
Finally, after the above necessary procedure has been identified, the last portion of the research will be focused on a instance survey with a multi-storey edifice building where their hazard direction processes on a undertaking particular will be accessed in ( harmonizing to the needed criterion used by their company ) conformity to ISO/DIS 31000:2008. This portion will be done through an interview and the concluding decision will be drawn establishing on the literature reappraisal.
Definitions: Hazard Hazard is defined as the ”cumulative consequence of the chance of unsure happenings that may positively or negatively affect undertaking aim. Event may go on to the undertaking, doing ( impact to the undertaking objectives ) . ( Ward, 2000 )
Risk Management Risk Management is define as an ”organized method of placing and mensurating hazard and so developing, choosing, implementing and pull offing options for turn toing hazard ” . ( Scott, 2008 )
Management Management is specifying as utilizing people and other resources to accomplish organisational aims. Directors are non involved straight in a production but they direct the attempt of others to carry through ends.
Project Management Project Management is the acquired cognition and accomplishments applied utilizing a formal set of tools and techniques to originate, program, execute, proctor, control and close undertaking. It enable organisation to carry through their pre-defined aims within the define clip bound. ( Visitask, 2004 )
Risk Management Process
To pull off hazard efficaciously during the procedure of executing, Risk designation should be the PM first precedence. The PM should be able to place the beginnings of hazard, influential countries, events and their causes every bit good as their hereafter result. The chief purpose of hazard designation is to enable the PM to place the hazard base on the on-going activities during the executing that might lend, prevent, and detain the accomplishment of the undertaking. In this phase, complete and thorough hazard designation is important merely because a hazard that is non acknowledge within this phase will non be included in farther analysis. In other to obtain a successful consequence during this procedure, the organisation should do certain proper application of hazard designation tools and techniques which are relevant to the undertaking objectives every bit good as the hazard in manus is applied. During this phase, all necessary and relevant certification must be provided for future mention. The hazard designation procedure must be done with qualified people in other to obtain geniuen consequences. After the hazard designation has been done to place what is likely to go on, it is besides of import to set into consideration the possible causes and sketch the effects that can happen.
Hazard analysis Risk analysis is all about being able to develop an apprehension of the undertaking hazard. It starts with description of the hazard issues which has been pointed out and accepted by the determination shapers for proper rating. The aim of hazard analysis is to roll up all the necessary informations about the hazard issues in other to judge the possibility probably to go on and cost, agenda and proficient effects if the hazard occurs. In other to forestall resources from being misuse on issues that may non really be hazard, it is really of import that merely hazard which has been approved should be analyzed.
Hazard planning Risk planning is specifying as the necessary elaborate model of a program of action for the hazard direction. During this phase, all the necessary every bit good as the relevant certification must be developed and it should be decently organiz and synergistic to the scheme of the hazard direction. Besides, the utile methods in other to make up one’s mind how to put to death the plan ‘s hazard direction scheme is besides outline in this procedure. This procedure is considered to be one of the most of import stages which much attending must be drawn into because it includes the full hazard direction procedure, with the necessary activities to measure ( place and analyse ) , handle, proctor ( and papers ) the hazard involved in the undertaking. Not merely that but besides the development and the execution schemes in hazard direction procedure attack for the undertaking is besides outline during hazard planning.
Hazard tracking Risk tracking procedure should be properly program and considered as portion of the hazard direction procedure in the undertaking executing stage. During this procedure, hazard will be monitored exactly and asses the strength of hazard managing behavior against established prosodies. The PM must clearly specify the 1 who should be responsible for the hazard trailing and this should affect either regular checking or periodic checking. The tools which will enable the one assigned to this undertaking must be available in other to sketch the figure of study formats to be used by the employee ‘s for different intent. The out semen of the hazard trailing and reappraisal must besides be recorded in other to enable the PM to utilize it as an input to the reappraisal of the hazard direction model.
Hazard control After the hazard has been identify, analyzed, planned, every bit good as being tracked in the undertaking executing and sensible responses have been developed, those findings must be put into proper actions. The hazard control phase is intentionally design for execution which should affect the hazard program, which is the most indispensable portion of the undertaking program. The first thing in this procedure which must be considered is to set the programs into action and guaranting that the programs are still valid. The following thing which needs to be followed is to bring forth sensible certification to back up the procedure which has been planned. Through this, the undertaking squad will be able to command the undertaking hazard efficaciously and watch the advancement of the design and the result of the undertaking execution become available.
How to Implement hazard direction procedure In other to do proper execution of hazard direction procedure within the executing stage, the PM must guarantee that the above mentioned hazard direction procedure outlined should be applied at all during the executing of the undertaking and it should be portion of the organisation ‘s patterns.