Risk management

Risk Management

"Risk can be managed, minimized, shared, transferred, or accepted It cannot be ignored."       - Sir Michael Latham 1994

Risk is an inherent part of any construction project. Failure to properly manage risks often leads to litigation, Project Risk Management is the key element in the success of any project. The Project Risk Management should form part of the project management routine at all stages of the Project Life-Cycle. The objective of the risk management plan is to decrease the probability of events which may have an adverse impact on the project and at the same time identify events , which may have a positive impact. Failing to follow a structured Project Risk Management for your projects in a self-disciplined manner will quickly lead to project failure.

CASTLE Provides their clients by project risk management consultancy , our specialists identify , evaluate project risks, manage it and develop risk mitigation strategies and plans, we implement a practical Project Risk Management process to improve the desired outcomes of your projects. The risk items are appraised on regular bases by the project team so that actions to lessen or alleviate risks can be taken. integrated risk management is essential for successful project execution, so we offer the Risk Management services at any stage of the project life cycle starting from concept and feasibility up to the handing over stage of the project.

CASTLE provide the risk management services :

RISK Identification

Set the objectives for the Project Risk Management process to be used and align them with the overall objectives for the project and the criteria for success. We monitor and review the foreseen risks , which are the principal focus of the project risk management.

RISK Assessment and quantification

Identify risks and seek to understand the type of risk and the likelihood and impact as well as any cause and effect relationships between risks.

Implementation risk response plan to reduce the risk Impact

Formulate methods and actions to reduce or eliminate identified risks in a structured and manageable way to enable continuous control of risk and uncertainty. Specific response actions may include the transfer, mitigation, allocation or acceptance of identified risks.

Monitoring and evaluating for any corrective procedures and actions

Monitoring the level of risk at the whole Project Life-Cycle and measuring the effectiveness in responding to identified risks.

Risk minimization lies at the heart of our actions. We ensure that documents are prepared, the right people are appointed, financial packages are well structured and every angle of the deal is commercially robust.

CASTLE is experienced in structuring collaborative contracts to increase efficiency and reduce the prospect of disputes. For public/private finance initiative contracts, which are particularly vulnerable to legal disputes, we define responsibilities clearly and allocate risks.