At this stage it will become clear which party is

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Unformatted text preview: Responsibilities Responsibilities Project risks are studied and appropriate risk response strategies are decided upon. At this stage it will become clear which party is responsible responsible for each identified risk. It could be: It ◦ Owner organization. ◦ Consultant/Contractor. ◦ Subcontractors/vendors. ◦ Third party, etc. Dr. Maged Ezzat Georgy Risk Ownership This stage identifies the owner of each project risk (i.e., the party/person responsible for it) to be: ◦ Owner organization. ◦ Consultant/contractor. ◦ Subcontractors/vendors. ◦ Third party ◦ etc. Dr. Maged Ezzat Georgy Risk Risk Ownership A risk owner typically: ◦ Watches for risk triggers. ◦ Tracks risk development into real events. ◦ Recommends and initiates the response plan. ◦ Monitors the implementation of risk response plans. ◦ Takes corrective actions to such implemented plans as found necessary. Dr. Maged Ezzat Georgy Risk Ownership Within a given organization, risk owners can be specified more explicitly. For instance: ◦ Head of procurement department. ◦ Superintendent for sector III. III ◦ etc. Dr. Maged Ezzat Georgy Exercise Exercise Required… A given list of project risks. You are required to: ◦ Identify a suitable response strategy from the four major types studied in the course. ◦ Describe the response strategy selected. Dr. Maged Ezzat Georgy End of Week 9...
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