Risk Management Process. Risk Management Transactions shall not exceed a period of eighteen months (18) months from the then-current delivery month unless otherwise approved by Client. Risk Management Transactions will be implemented in accordance with the Risk Management Plan agreed between Client and CES in writing pursuant to Section 4(c) of the Agreement.
Risk Management Process. The risk assessment and management process for each Party will: • establish the context; • identify and assess, SFAIRP, risks applicable to each Interface; • determine measures to manage, SFAIRP, risks applicable to each Interface; • take into account the maintenance responsibilities in accordance with Appendix 2; • SFAIRP, establish timeframes for the implementation of measures to manage risks; • implement measures to manage risks; • review, monitor, evaluate, test and (where appropriate) modify measures to manage risks; and • communicate and consult throughout the process.
Risk Management Process. Risk Management Transactions shall not exceed a period of eighteen months (18) months from the then-current delivery month unless otherwise approved by Client. Risk Management Transactions will be implemented in accordance with the Risk Management Plan agreed between Client and CES in writing pursuant to Section 4(c) of the Agreement. Compensation for Additional Interest: Client will pay Cargill for any additional interest costs associated with the implementation of the Risk Management Transactions. Client will pay Cargill interest charges at the Interest Rate defined below on the sum of the Initial Margin Requirements and the Performance Exposure, after deduction of any cash collateral held by Cargill on behalf of Client.
Risk Management Process. The risk management processes the UGL CPB JV will implement will be governed by a project-specific Risk Management Plan that complies with AS/NZS ISO 31000:2018 Risk Management – Principles and Guidelines. The plan will be based on similar plans successfully implemented for major infrastructure projects performed by the JV partners. It will detail our risk management strategy, risk framework and risk management system, processes and internal controls to manage project risks. It will also describe the specification, implementation and maintenance of a risk management database. The database will be supported by a risk management software package on a shared platform. This plan will be implemented and updated until Practical Completion. Note that the project workplace health and safety risks will be comprehensively addressed in the Workplace Health and Safety Management Plan as outlined in the Workplace Health and Safety Management Plan of the Returnable Schedules. Both plans will form part of the suite of interrelated plans in the project management system that together, outline how the project will be managed using an integrated approach to satisfy the requirements of the Deed and meeting Powerlink’s requirements. Table 1 outlines how we will implement. our risk management process to maintain ISO standard compliance. Table 1: Risk Management Process Implementation AS/NZS ISO 31000 Principles Proposed Implementation for Compliance Risk management creates and protects value Risks will be assessed against multiple criteria to ensure all elements of value are assessed and addressed. Risk management is an integral part of all project processes The risk management process will be applied in every element of the project from tender to planning and design, through construction to pre- commissioning, commissioning, acceptance and handover. It will include all disciplines and activities including safety, environment, people, technical, community and stakeholders, financial, legal, reputation and interfacing. Risk management will be integrated across the project as a whole and at individual activity levels. Risks will be categorised and escalated and aggregated between each level and reported on a regular basis. Risk management is part of decision making Risks and opportunities will be regularly updated as the project progresses and presented and discussed in a number of project-level forums to guide decision making. Risk management reporting will also be an agenda it...
Risk Management Process. Timely awareness and reaction to potential problems are crucial to effective risk management. The primary objective is to avoid reasonless project breaks, budget excess and uncontrolled time-schedule extensions, and for that purpose a number of internal and external risks were identified even from the beginning of the project and will be constantly be updated; these are described in the following subsections. Internal risks will be minimized and managed by using well-established methodologies for project planning and project control. The splitting of project work into individual packages also minimizes internal risks. The Project Coordinator and the Technical Manager in cooperation with the Executive Board will be mainly responsible to handle internal risks and inform all partners when necessary. The management of external risks lays primarily on the hands of the Project Board. External risks will be minimized by following closely on technological and business development in the field as well as on pertinent regulatory issues. Annex I – NP’s TUV CERTIFICATE This deliverable was produced under the co-finance of the European financial instrument for the Environment (LIFE) programme during the implementation of the project “LIFE GAIA Sense” (LIFE17 ENV/GR/000220).
Risk Management Process. The objective of FHWA’s risk management process is to establish a consistent approach to identify and prioritize program area risks. Applying the principles of risk makes it possible to identify threats and opportunities; assess and prioritize those threats and opportunities; and determine and prioritize strategies so that we can decide how to address future issues affecting the Federal-aid Highway Programs. MoDOT Construction & Materials Staff and the FHWA agree to coordinate yearly to identify construction and material risk items for the next performance year. The Construction & Materials Program Assessment identified the following top three risks for FY21. Two risks identified respectively through FY21 Utilities and Civil Rights Program Assessments as crosscutting with the Construction & Materials Program are also included. MoDOT and FHWA agree to partner together to identify strategies to help mitigate these risks. Top three risks from Construction & Materials Program Assessment Value Engineering Change Proposal (VECPs) Integrity of Contractor Quality Control (QC) data used by MoDOT to determine acceptance and payment Erosion Control Two crosscutting risks Utility Inspection & Closeout Disadvantaged Business Enterprise (DBE) Goal & Good Faith Effort (GFE)
Risk Management Process. The objective of FHWA’s risk management process is to establish a consistent approach to identify and prioritize program area risks. Applying the principles of risk makes it possible to identify threats and opportunities; assess and prioritize those threats and opportunities; and determine and prioritize strategies so that we can decide how to address future issues affecting the Federal-aid Highway Programs. MoDOT Construction & Materials Staff and the FHWA agree to coordinate yearly to identify construction and material risk items for the next performance year.
Risk Management Process. The risk management process identifies, quantifies, and mitigates risks to the project. This is a process that needs to be continually reviewed by Riskonnect with County during implementation.
