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Risk Management

RISK MANAGEMENT

Risk Analyses  of design and construction can be described as a procedure in which incidences which can be seized and which can dramatically affect the final result can be identified, which is modeled – managed and observed, which goes forward with a digitized systematic methodology. As the project grows, Risk increases as well.

By means of Risk Management, ART GLOBAL uses suitable methodologies in order to reduce Risks within project costs, timing, quality-performance, safety and work operations. We regard our Customers who have Risks as naturally a part of this procedure. Through Risk Management, we aim at detaining possible events proactively, and at the end controlling them. On order to realize this effectively and cope up with possible events, to see effects of the methods that we use, to guess possible events via Risk Management tools, we use some auxiliary techniques. While carrying out Risk Management, ART GLOBAL gives responsibility to everyone in the project who takes charge in such as design, engineering, operating, finance, contracts, purchase and project control.

As well as giving reactions and doing activities suitable to the Risks detected, and modeling new Risks, ART GLOBAL makes a great effort to minimize possible Risks by means of their continuous observation and administration activities. While realizing Risk Management, we act by various strategies such as totally avoidance (by eliminating the reasons of the risks or by insurance and contracts), allocation of the Risk to 3rd parties, Reduction or transferring of the Risk of exposition. Adopting the Risk is our last choice and we consider it only when we cannot handle it with our other strategies. We specify a Risk  reduction goal for each Risk element and produce innovative solutions including necessary steps in order for Risk reducing targets be effective and affordable. We see the whole by means of Risk Simulation when necessary.

By our Risk Data and Risk Evaluation forms, we ask some questions below and get answers to them for Risk evaluations.

  • Where does this risk stem from of what prompts to the Risk?
  • Does this Risk have an effect on the work? Or only on the project?
  • How do we know when this Risk occurs?
  • What do we do if the Risk comes true?
  • How should we handle this Risk at the moment?
  • What steps can we take in order to reduce this Risk and manage it better?
  • What should we do if we fail in managing this Risk?

We maintain the Risk Management procedure throughout the lifecycle of the project. ART GLOBAL Risk Managers, whether there is no change according to the scope of the project, weekly or monthly scan all Risks and update Risk Evaluations. They also hold Risk Meetings regularly so as to raise awareness of current Risks and provide Risk Communication. In these meetings; design and construction improvements and equipment prices, actual costs are updated and also new Risks are determined through estimations.