The Owner's Role in Project Risk Management

Effective risk management is essential for the success of large projects built and operated by the Department of Energy (DOE), particularly for the one-of-a-kind projects that characterize much of its mission. To enhance DOE's risk management efforts, the department asked the NRC to prepare a summary of the most effective practices used by leading owner organizations. The study's primary objective was to provide DOE project managers with a basic understanding of both the project owner's risk management role and effective oversight of those risk management activities delegated to contractors.Table of Contents

• Front Matter
• Executive Summary
• 1 Introduction
• 2 Owners’ Roles and Responsibilities
• 3 Properties of Project Risks
• 4 Risk Identification and Analysis
• 5 Risk Mitigation
• 6 Contingency
• 7 Active Risk Management
• 8 Portfolio Risk Management
• 9 Conclusions
• References
• Appendix A: Biographies of Committee Members
• Appendix B: Statement of Task