Question

Difference between risk management and risk assessment

Answer 1

Risk assessment and risk management are central pillars in this process. So what is the difference between these two key activities? Risk assessors provide independent scientific advice on potential threats in the food chain. Risk managersuse this advice as a basis for making decisions to address these issues.

Answer 2

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Risk factors are the issues or concerns that may ultimately drive the behavior of the top-level schedule and cost performance measures for a given activity.

The aim of the RFA is to systematically search the selected project activities for the presence of such risk factors.

To aid in the identification of relevant risks, the risk project spectrum first is divided into four broad categories of risk generally found to be relevant to all LAN projects.

Technical risks are those events or issues associated with the scope definition, research and development (R&D), design, construction, and operation that could affect the actual level of performance vs. that specified in the project mission need and performance requirements documents. Examples of technical risks include new and changing technology and changing regulatory requirements.

Schedule risk is the risk associated with the adequacy of the time allotted for the planning, R&D, facility design, construction, and startup operations.

Two major elements of schedule risk are

the reasonableness and completeness of the schedule estimates for the planned activities

the risk that schedule objectives will not be met because of a failure to manage technical