The Brixtel team has developed a robust risk management process that corrects problems before they become issues. Brixtel utilizes a risk management tracking database. The risk management process is vital to identifying, analyzing, and responding proactively to occurrences that pose a risk to successful project performance. Critical project risks that must be managed, tracked, and mitigated are formally documented and reviewed. Each risk identified is assessed in terms of the impact it could potentially have on the success of the project. A mitigation strategy commensurate with this potential impact is then identified. The risk management process is comprised of two sets of activities: risk assessment and risk mitigation.The risk management process begins at project initiation and continues through project closing. It is an iterative process that continues throughout the life cycle of a project.
A detailed risk management process reduces the probability and impact of negative risks and enhances opportunities throughout the life of the project. The goal is always to meet or under run cost targets while achieving the required technical performance.