Prospective for integrated risk management process
Talent Prospective for a Fully Integrated
Risk Management Process
1- DIRECTIVE MANAGEMENT ORGANIZATION:
- May be existing e.g. PMI, or RMI, or any certain neutral organization
approved and be assigned by the government.
2- THE GOVERNMENTAL ASSOCIATIONS:
- E.g. Chamber of commerce, Ministry of Investment, Ministry of
commerce, Ministry of Industry, etc.
3- ASSOCIATIONS :
- May be Owner Representatives (BUYER), or Applicants (SELLER)
1- THE GOVERNMENTAL ASSOCIATIONS:
- Leading, Regulating, observing, and supporting the process.
2- DIRECTIVE MANAGEMENT ORGANIZATION (DMO)
1) Annual Risk Indicators:
- Be prepared in the shape of publishing an annual book, including all the
probable risks of the industry, classified in a proper way, to be clear and
easy for use. The feeding data for this book shall be obtained by various
sources; e.g. conferences, available historical information of the industry,
the feedback reports from: the ASSOCIATIONS, country law… etc.
- Can be directive, or guidancefor the ASSOCIATIONS, in the risk
- May be divided into several issues, one per stakeholder (e.g.
SELLER copy, or BUYER copy), because of the probable areas of
concern for each.
- May contain guidelines and/or definitions, showing the faithful
advice for the ASSOCIATIONS regarding the Risk Management Process.
2) Professional Magazine:
- Periodic, or Non periodic magazine, or newsletter, to show the latest
researches, and news of the field.
1) Risk Mgmt. Records,:
- All the records that may be useful to the (Integrative Risk Assessment),
same like but not limited to (Actual risk register for completed projects, List
of major issues the ASSOCIATIONS had faced, were not originally known
risks, before executing any of its projects, etc.
2) Process observations:
- May be applied internally, by the ASSOCIATIONS, or externally; to
Assure the quality of the Risk Management Process.
- The (DMO), should be fed back, to generate regularly the lessons learned,
and publish them for all.
- To assure that, the concept of (RISK MANAGEMENT) is considered for
all the projects.
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