Application of ‘Life Cycle' Concept for Asset Risk Management

2004 ◽  
Author(s):  
L.G. Dreher ◽  
M.F. Jarman
Keyword(s):  
Risk Management ◽  
Life Cycle ◽  
Asset Risk

1.3.2 LIFE CYCLE RISK MANAGEMENT

1995 ◽  
Vol 5 (1) ◽  
pp. 335-339
Author(s):  
Lawrence T. Brekka ◽  
George J. Vlay
Keyword(s):  
Risk Management ◽  
Life Cycle

scholarly journals PROJECT RISK MANAGEMENT BASED ON A SET OF BEST PRACTICES

2021 ◽  
Vol 26 (3) ◽  
pp. 79-86
Author(s):  
Agnieszka JĘDRUSIK
Keyword(s):  
Risk Management ◽  
Life Cycle ◽  
Project Management ◽  
Best Practices ◽  
Project Manager ◽  
Project Risk Management ◽  
Project Risk ◽  
Golden Triangle ◽  
Project Life Cycle ◽  
Project Life

The purpose of this article is to present the process of risk management in project management. The analysis was based on a comparison of two best practices of IPMA and PRINCE. Risk management differs significantly between the two approaches, but it is up to the organization to choose its own management, monitoring and methodology tailored to the specific industry or sector. Risk management is an important aspect of the entire project life cycle and must be monitored throughout the project life cycle to protect not only the budget but all areas of the so-called "golden triangle". A very important aspect is the organization's awareness that risk management is everyone's responsibility, not just the project manager. This paper presents two different approaches to project risk management in two different methodologies.

Optimal Longevity Risk Management in the Retirement Stage of the Life Cycle

2018 ◽  
Vol 5 (3) ◽  
pp. 73-92
Author(s):  
Koray D. Simsek ◽  
Min Jeong Kim ◽  
Woo Chang Kim ◽  
John M. Mulvey
Keyword(s):  
Risk Management ◽  
Life Cycle ◽  
Longevity Risk

Strategies for Managing Risk on Pipeline Projects

2006 ◽  
Author(s):  
Peter Wallace ◽  
Mark Cohen ◽  
Guy Lembach ◽  
Matthew Murch ◽  
Reena Sahney
Keyword(s):  
Risk Management ◽  
Life Cycle ◽  
Resource Constraints ◽  
Significant Risk ◽  
Regulatory Compliance ◽  
Risk Allocation ◽  
Capital Projects ◽  
Management Project ◽  
Managing Risk ◽  
Capital Construction

The risk factors pressuring pipeline projects are very similar to those that influence any capital construction project, except that the scale and complexity are magnified as are the consequences of even minor disruptions to the progress of the work. Essential to the successful planning, design, and construction of large capital projects is risk management. Project issues such as regulatory compliance, resource constraints, aggressive competition, and the access to and requirements of capital markets require aggressive and thorough risk management and control. Moreover, the ability to influence and mitigate cost and schedule risk decreases as the project progresses through the construction life cycle. This paper will discuss the major components of proper risk management including scoping, identification, analysis and evaluation, timely response, mitigation, control, and risk allocation using proven techniques. The significant risk areas in each phase of the project life cycle including, feasibility, planning and design, construction, and start up & turnover will also be discussed. This paper will also focus on tools and strategies in dealing with the common and costly areas of risk, particularly the use of CPM scheduling in the identification, control and quantification of risk management issues using statistical models, such as Monte Carlo simulations, and the use of CPM scheduling in the avoidance of claims will be highlighted.

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