At a high level, up to Final Investment Decision (FID), the project focus is to assure the value of the decisions around project definition, and from FID forward to assure the delivery of the value during project execution and operations. Project Strategic Decision & Risk Management deliverables are required, for all project phases, in support of assurance.
The Project Strategic Decision & Risk Management System is comprised of the following:-
- A structured, continuous risk management process to identify and assess risks, plan and implement risk responses, review risks and actions, improve risk responses until risk closure,
- An agreed set of Probability & Impact scales (RAM) to assess and prioritize risks,
- A supporting organizational framework to manage risks,
- A Risk Register to document the ownership, assessments, response plans, progress, and
- A Strategic Decision & Risk Management Plan to detail how the project executes risk management.
For more information please contact NAPTA International B.V.
