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East Timor Solar project Risk Management Cycle

   

Added on  2019-11-12

7 Pages1405 Words274 Views
East Timor Solar project Risk Management Cycle[Name][Email address]EAST TIMOR SOLAR PROJECTRISK MANAGEMENT CYCLE
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East Timor Solar project Risk Management CycleTable of ContentsIntroduction..............................................................................................................................3Risk management plan............................................................................................................3Risk Identification................................................................................................................3Risk Analysis.........................................................................................................................3Risk Prioritization................................................................................................................4Risk Planning........................................................................................................................4Risk Mitigation.....................................................................................................................4Monitoring Phase..................................................................................................................5References.................................................................................................................................52
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East Timor Solar project Risk Management CycleIntroductionEast Timor, one of the closest neighbour regions of Australia has people living in mountainswith poor infrastructure which makes it difficult to connect the houses with electricity grids.An alternate option was to make the provision of electricity through cheap generation ofelectricity from natural resources like solar energy. ATA has started a solar project in Eastwith an aim to install household solar systems to benefit 12,000 people living in rural areas.Google agreed to fund this project, but needs a risk management plan to be developed. Thisassignment would assess the case and would explore the process of risk management usingRisk Management cycle to suggest how such a plan can be created by ATA.Risk management planAs per the risk management cycle, a risk management process goes through the stages ofidentification, analysis, prioritization, planning, mitigation and monitoring. For thedevleopmet of the risk management plan, the ATA would go through a cycle including thefollowing phases:Risk Identification: In this step, ATA would identify various kinds of risks that can occur inthe solar project during its whole life cycle. These risks can be related to project scope,design, technical, stakeholders, executive support, procurement, quality, authority, useracceptance, commercial, project management or commercial. In East Timor Solar projects,risks could be related to scope, design, technological, procurement, and quality. Some of therisks that can be identified in the case of solar project include[ CITATION APM17 \l 16393 ]:If the solar systems implemented are unable to generate sufficient electricity asneeded by the village, it would be a technological risk[ CITATION Jon123 \l 16393 ].Language barrier is another risk on the project as the people working on the projectmay not speak the local language which could difficulties in communicating withcommunities.Risk Analysis: In this stage, the risks identified would be assessed with respect to theprobability of its occurrence and the impact on the solar project. In case of the high impact onproject, the risk is considered severe. Based on the level of severity identified here, decisionscan be taken on how to manage the risk. For instance, if the project cannot receive thesufficient funds required for sourcing and implementing solar power solutions then it could3
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