Project Risk Identification and Description
University of Tsukuba, Otsuka 3-29-1, Bunkyo-ku, Tokyo
In planning or design phase, project members make decisions with limited or uncertain information. Those decisions might turn into risks. The facts which they make decisions with uncertain information are not described on any specific documents, but only recognized by decision makers themselves. Therefore, it is difficult for a third person to find out the risks. In order to manage these types of risks, it is important for those who make decisions with uncertain information to share their experiences. However, since not all engineers have the knowledge of risk management, it is extremely difficult to describe risks appropriately. In addition, when various kinds of people are involved in the risk identification process, same risks tend to be listed too many times because they are expressed differently by different people. This article will discuss the standardization of risk description which will reduce the fluctuation in expressing risks. Existing risk models will also be examined.