Monitor and evaluate the implementation of risk, opportunity and uncertainty control measures in the area of Project Control, Estimating, Planning & Cost Engineering
Overview
Performance criteria
You must be able to:
You must be able to:
P1 Monitor the actions being taken to deal with the identified risks, opportunities and uncertainties, in line with procedures
P2 Liaise with other members of the project team to ensure that up to date information and advice is obtained on the consequences of the actions being taken to deal with the identified risks, opportunities and uncertainties
P3 Review emerging risks, opportunities and uncertainties to establish the potential consequences in relation to existing contingencies
P4 Provide a Project Control, Estimating, Planning & Cost Engineering input into the review and amendment of contingencies and action plans to deal with emerging or retiring areas of risk, opportunity, uncertainty and exclusions
P5 Provide advice to the appropriate staff to deal with identified shortcomings found in the actions being taken and the commercial consequences being identified
P6 Maintain and update the records of the commercial implications of identified risks, opportunities and uncertainties, and the associated provisions for mitigation costs or promotion costs
Knowledge and Understanding
You need to know and understand:
You must be able to:
K1 Principles of risk and opportunity management and control
K2 Potential consequences of risks, opportunities and uncertainties K3 Monitoring techniques
K4 Contingency allocation and management
K5 Techniques for collecting and evaluating information
K6 Information sources: internal and external
K7 Presentation of cost variability information
K8 Organisational systems and procedures
K9 The project or business technology and environment in which risk, opportunity and uncertainty analysis techniques will be managed
K10 Implications of National, European and local regulations and codes of practice