1. Risk Management
... rather like trying to map the world which is always centred on the location of the map maker. Much of the world is not visible from where he stands." (Flanagan R. & Norman G. 2003 p.47) It is crucial and essential therefore to identify as many risks as possible that may occur in a project. Once the potential risks of a project have been identified, project ... and fine by the statutory authorities Lack of care by the workman Cost of loss production and welfare payments to injured workman Future increased cost of insurance provision Figure 1.1 Flanagan R. & Norman G. "Risk Management and...
- Word Count: 828
- Approx Pages: 3
- Grade Level: High School