MCS construction group is a multi-disciplinary civil infrastructure firm that provides full service. For nearly 35 years, designers have proudly served Local Government and the construction industry in Melbourne and surrounding areas. Recently, the company received a project from one of its clients. The company wants you to develop and manage the design for their project. Assume that you are working as a Design Manager in this company and your management has asked you to conduct research online to get information about policies and procedures needed for managing the civil design work process.
Explain the following risk management planning steps needed for managing civil design works:
Risk identification
Risk analysis
Risk response
Risk monitoring
A) Identifying potential risks involves systematically recognizing and documenting potential hazards or uncertainties that could impact the civil design project's objectives or outcomes.
B) Analyzing risks entails evaluating the likelihood and consequences of identified risks to prioritize them based on their potential impact on the project.
C) Developing risk response strategies involves devising plans to mitigate, transfer, avoid, or accept identified risks to minimize their impact on the civil design project.
D) Monitoring risks entails continuously tracking and evaluating the effectiveness of implemented risk management strategies and adjusting them as necessary throughout the civil design project lifecycle.
