W8_INDRA_Shipbuilding Risk Management (1) – Risk Identifying

1.            Problem Recognition, Definition and Evaluation

In Feasibility Study process, we list the potential risks for Ship Building Project as below :

Table 1. Ship Building Potential Risks

Problem Statement

            There are 3 steps of Risk Management : Identifying, Assessment, and Prioritization. Please identify the potential risks explained above

2.            Develop of  the Feasible Alternatives

There are some methods to identifying risks :

a.     Focus Group

b.    Organization Record

c.     Flowcharting

d.    Professional Expertise

e.     On Site Investigation

3.            Develop the outcomes for each alternative

a.     Focus Group = A focus group is made up of individuals who are invited to attend one or more meetings in order to focus their attention and provide information and feedback on a specific topic or area of concern

b.    Organization Record = Information that may point to risks exposures may be found in documents such as minutes of committee meetings, event management plans and report, policy documents , contracts for facilities

c.     Flowcharting = The benefit of a flowchart to the risk identification process is that it identifies possible ways in which basic processes in sport and recreation management can be interrupted.

d.    Professional Expertise = Sport and recreation organisations may consider using risk management consultants with expertise to identify virtually any risk exposure. However the services of such consultants may be available only at a significant cost.

e.     On Site Investigation = On-site investigations provide opportunities for face-to-face discussions with organisation personnel. Such discussions may lead to a better understanding of the extent of harm and detriment arising when events and activities do not go as planned. On-site investigations may also shed light on the frequency with which undesirable events occur.

4.     Selection of the acceptable criteria.

a.     No special budget from company to identify the risk. It is clear that risk management is included in our job (and our salary too)

b.    The data and variable should be specific based on shipbuilding project

5.            Analysis and comparison of the alternatives

a.     Focus Group = may be use id the group consists of experienced people. But our experienced engineers never be together in the same time

b.    Organization Record = may be use based on the existing project record

c.     Flowcharting = we do not have resources and knowledge to do that

d.    Professional Expertise = we cannot pay some consultant, but we have some engineers, they have many experience in shipbuilding project

e.     On Site Investigation = cannot be arranged because we cannot predict the shipyard who will build the vessel

6.             Select the preferred alternative

Based on the comparison, we identify the risk use Organization Record and Professional Expertise methods. We use our existing project record and some suggestion from engineer to identify the risks as below :

Table 2. Identifying the Ship Building Project Risk

7.            Performance Monitoring & Post Evaluation of Result

On the next blog posting, we will continue to Risk Assessment

Reference

i.              Methods for Identifying Risks, retrieved from  :

http://www.leoisaac.com/ris/ris028.htm

ii.               Methods for Identifying Risks, retrieved from:

http://toolboxes.flexiblelearning.net.au/demosites/series9/904/toolbox904/resource_centre/r2_risk_assess/r206_identi_meth/r206_identi_meth.htm

iii.  Identify, Analyze, Plan, Track, Control, Communicate, retrieved from: http://www.withrisk.com/index.php?kat=6&entry=3