Risk Management : Assignment Sample PDF

Running Head:- Risk Management
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Risk Management
Risk Management
Risk Management
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Risk Management
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Table of Contents
I. TENDERING PERIOD.......................................................................................................................................2
RISK ANALYSIS..............................................................................................................................................2
RISK MITIGATION ACTIONS.................................................................................................................................2
II. EXECUTION PERIOD......................................................................................................................................3
RISKS OCCURRENCE........................................................................................................................................3
RISKS MANAGEMENT.......................................................................................................................................3
III. LEARNING & RECOMMENDATIONS......................................................................................................................4
IV. MARGIN RECOVERY AND RESCUE PLAN................................................................................................................5
REFERENCES................................................................................................................................................6

Risk Management
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I. TENDERING PERIOD
RISK ANALYSIS
The risk analysis is done to identify the future possibility of the negative happening and
evaluating the impact of the negative events on the particular outcomes.
During the analysis that is made of the tendering period of the INGEPP, the major risks that
have been identified as per the first audit are:
1. The main risk is the chance that the EPC contract that is made regarding the whole alkylation
project between the IMP and PETROLEOS does not incorporate any responsibility of Petroleos for
INGEPP. So in case of any bad taking place there is nothing which PETROLEOS could do for
INGEPP.
2. There are chances that the project would not be completed in the committed deadline (Kulak,
2017).
3. The IMP may fault in providing money for the invoices generated by INGEPP. In addition to this,
due to the lack of the coordination in the undertaken activities, it might face issue in the undertaken
work.
4. the company in case if unable to generate desired results for the shareholders could face reluctance
from them for further investments and hence could get into the clutches of bankruptcy.
5. The unit of Hydro isomerization has been specifically customised for PETROLEOUS and in case
the project fails because of any circumstance, the same could not be used elsewhere.
6. Due to the company being unable to get cash for its work done, there are chances that the debts
shall remain unpaid and the company gets sued.
RISK MITIGATION ACTIONS
The risk mitigation actions plan is developed according the risk faced in the events. However, all the
mitigation action plans is based on the identified risk. The below given table has been given for the
same.
RISK NUMBER MITIGATION ACTION
1. INGEPP must ask before signing of the contract
some security in form of PETROLEOS
undertaking for it apart from IMP.
2. A project blueprint must be made to get the
things done within the set time period (Boutros,
& Purdie, 2014).