Risk Management

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Risk is the uncertainty of a negative outcome resulting from an action or inaction, from known and unknown factors. Risk can be a source of potential benefit or harm, therefore managing Risk is a fundamental part of successful organizational and project management.

As organizations and projects become more complex, the relationships between key elements and stakeholders complicate the assessment by increasing internal and external dependencies. With increasing external focus on effective risk management,all project personnel must be equipped with an understanding of project risk and how it may be systematically assessed and managed to reduce threats to successful project completion.

Key elements

Links

Marine Risk Assessment - Prepared by DNV for the HSE Executive

Shipping Safety and Marine Risk Management by Shell

Contributor

Kevin Sorbello - Engineering and Management Consultant

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