Risk classification based on where risk control lies, Other Management

Risk classification based on where risk control lies

From the point of view of where risk control lies, five classifications of risk can be listed:

  • External risks which are unpredictable like acts of god, third party risks and so on.
  • External risks which are predictable, but uncertain, like weather.
  • Internal risks of technical nature arising directly from the technology of the project work, design, construction or operation of the facility.
  • Internal risks of non-technical nature. These are within control and arise out of failure of the project team to achieve its expected performance. These result in schedule delays, cost overruns or quality deficiencies.

Legal risks:

  • Relevant to civil law - like contract arrangements, patent rights.
  • Relevant to criminal law - like not adhering to statutes example Health and Safety at Work Acts in UK. 
Posted Date: 9/28/2012 2:41:12 AM | Location : United States

Related Discussions:- Risk classification based on where risk control lies, Assignment Help, Ask Question on Risk classification based on where risk control lies, Get Answer, Expert's Help, Risk classification based on where risk control lies Discussions

Write discussion on Risk classification based on where risk control lies
Your posts are moderated
Related Questions
Subject Headings: After classification work, logically the next step in the technical processing of a document is the work of assigning appropriate  subject headings. These a

E l e ments of a strategic design The elements of strategic design are: V i sion: This is the big picture of where the organisation wants to be in the future. This ma

Question A) Write short notes on the Quality planning an element of Quality management Question B) What are the steps to the Fade QI model? Question C) Quality costs are

T he change manager The change manager is accountable for the day to day activities of the change management process for the Information Management team. This person  must  es

The Range of Network Services   The range of services provided by many resource sharing networks include storage and retrieval of data such as factual, physical and bibliograp

Question 1 Explain the steps in drawing the head and the face of male figure with illustration Question 2 Explain basics of drawing legs and feet of a child with illustration

Subject Catalogue : In an alphabetical subject catalogue, entries are made under the name of the specific subjects of documents. Irrespective of their affiliations, specific s

M odel which supports EPM Enterprise project management is an optimistic trait of the organisation that changes the way business is conducted through projects. A replica of an

Question 1 i) Discuss managing quality transformation in organisation ii) Explain the concept of quality in manufacturing & services Question 2 Explain the different step

Classified Catalogue Code: Ranganathan (Shiyali Ramamrita) (1892-1972). Classified Catalogue Code with Additional Rules for Dictionary Catalogue Code. Ed 5. Assisted by A Neel