Project Risk Management
SHAAR is one of the most experienced and professional companies in Israel in setting up and leading risk management processes in projects, and in construction and infrastructure projects in particular.
The process commences with the adaptation of generic methodologies to the specific project, the organization and its organizational structure and working processes. The process continues with the selection and implementation of relevant tools to support the risk management process.
Leading the effort of successfully mapping, identifying and assessing project risk requires many years of project management experience as well as a systemic perspective, something that SHAAR’s team possesses in abundance and does on all our projects.
The same approach applies to the phases that follow: the planning of risk treatment and mitigation activities, and the subsequent risk monitoring and control, throughout the project’s life cycle, including reporting and escalation routines.
SHAAR has extensive experience in analysis and assessment of risks in both the qualitative and quantitative methods, inclusive of running Monte Carlo simulations and conducting Qualitative Risk Analysis (QRA) to obtain the aggregated Expected Monetary Value (EMV) of project risks, as an advanced decision support tool.
SHAAR offers its clients a computerized risk management tool for administration and documentation of the risks' life cycle. The tool has been implemented with great success in a large number of projects and mega projects.
The services described above are conducted in compliance with PMI’s risk management methodology, and on the basis of the international risk management standard – ISO 31000. We also follow the directives of the Code of Practice of the International Tunneling Insurance Group (ITIG CoP).