Understanding Risk Assessment, Management And Reduction In Wastewater Treatment

What are risk objectives?

The risk objective of the wastewater treatment is generally to allow the human as well as the industrial effluents to be disposed of any danger to the health of the human or perhaps the unacceptable damage to the natural environment. Nonetheless, the degree of some treatment should be provided to the raw municipal wastewater before it could be used for the purpose of the agriculture, perhaps the landscape irrigation, or perhaps the aquaculture (Burke, 2013).  The quality of the treated effluent should be used for the great influence in both for the operation and performance of the wastewater soil plan system.  the risk management is the identification, assessment, as well as prioritization of the risk which is followed by the coordinated as well as the economical application of the resources thus be able to minimize, monitor as well as control the probability or the impact of the events that are unfortunate.

The external context of the project includes the influences, which are outside the organization that will affect the project examples of these are political, legal, and the technology. The internal project context which will affect the wastewater project include the internal environment and factors which will affect it such as the nature of the business, the policies which have been set by the organization, and the culture which exists (Burke, 2013). The project context would influence the project in many ways for example the economic factors which could affect the project are aspect such as the project funding, the regulatory factors which could impact on the specification of the product and the governance (Burke, 2013).  The context analysis usually provides the data to the prevailing influences as well as the likely changes hence allow the project team to be able to shape on the strategy of the project. Sometime the internal and the external factors may introduce the risks.

Figure 1: shows the internal and external project context

The risk is a term, which refers to the probability that the event will occur whether good or bad. The risk consist of two components the probability which is the negative or the harmful event which will occur and the other is the cost which is the amount of loss or expense that may result from the event (Leach, 2014). To the surface of the assessment, these two factors could lead to a yes or a no result and do I accept the risk or not.  The risk can be calculated very simply by dividing the reward by the price of the maximum risk.

Give examples of the internal and the external project contexts.

The industry, which the organization is in the technology sector. The industrial wastewater treatment usually covers on the mechanisms as well as the processes that are used to treat the wastewater that is produced as the byproducts of the commercial activities (Leach, 2014). The organization is a global tech leader, which has expertise in various field such as the treatment of the wastewater.

When one is dealing with the risk, it is important to follow the following: one of the thing would be to characterize on the root cause of the risk (Verzuh, 2015). This has been identified and quantify it in the earlier phases of the risk management process; the next thing would be to evaluate the interactions as well as the common causes (Phillips, 2013). Moreover, it is important to identify on the alternatives mitigation strategies, the methods as well as the tools for every risk that is major. It is also important to access as well as prioritize on the mitigation alternative and selection and committing of the resources that are required for various risks alternative for mitigation.

The SWOT analysis guides one in identifying the positive as well as the negatives inside the organization as well as outside.  Developing on the full awareness of the situation could help with both the strategic and the decision-making. The SWOT analysis could be used to explore the possibilities for the new efforts or the solutions to the problems. Secondly, to make the decisions in regards to the best path for the initiative, identifying on the opportunities for the success in the context for the threats to success could clarify the directions as well as the choices that are made.  Additionally, SWOT could be used to determine where the changes are possible. In case one is at the juncture or the turning point, an inventory of the strengths as well as the weaknesses could reveal on the priorities and the possibilities.  It is important for one to adjust and refine on the mid-course; there could be a new opportunity, which can open the wider avenues, while the new threats might close the path that existed. The purpose of the SWOT is to reveal on the positive forces which could work together and the potential problems which need to be handled or at least be recognized.  Before one undertake the SWOT session, it is important to decide what the format or the layout you could use in order to communicate on some issues that are clear to you.

How can you calculate risk?

The risk probability is the chances of the risk occurring and the risk impact is the cost in case the risk occurs.

The risk register is used for providing the project managers with the list of the identified risks, stated clearly as well as assessed as to their significance to be able to meet the objectives of the project. The risk register could lead directly to handling of risk, for example the mitigation of the risk (Snyder, 2014). The risk register could be used in the focussed quantified analysis of the risk for example schedule risk analysis that is based on the driving the Monte Carlo simulation with the specific risks.

The standard risks control represents the whole range of actions, measures as well as strategies that are taken by the management in order to eliminate or perhaps reduce the risks. It includes the documenting policies as well as procedures, ensuring that separation of the duties in various functions; implement on the policies as well as the procedures, and implementation of the quality assurance procedures (Snyder, 2014)). The process of determining on the risk control entails the assessing on the risk, assessing the risk appetite as well as evaluating on how to treat the risk via the actions of mitigation.  When it comes to the risk control, it requires one to consider the following parameters, which are; avoid the risk, mitigate the risk, transfer on the risk or perhaps accept the risk.

The risk four options for treating of the risks are as follows: the first is transferring of the risk. This can be achieved using different forms of insurance or perhaps the third parties that could be prepared in order to take the risk on behalf of the companies. The second is tolerating on the risk. This is where no action which is taken in order to mitigate or perhaps reduce the risk.  This could be because of the cost for instituting the risk reduction or perhaps the risk of the impact that are low and are acceptable to the business. Another option is treating of the risk, which is the method for controlling the risk through the actions, which reduces on the likelihood of the occurrence of the risk. Lastly, is terminating on the risk, which is the simplest and often the most ignored technique of dealing with the risk. It is essentially the approach, which could be the most favoured where possible, as well as simply involving elimination of the risk.

What are industry sector classifications applicable to your organisation?

When implementing the treatment of the risk it is important to keep the following factors in mind: one of the factors is the balance between the risk severity and the cost. The risk funds could be allocated based on the priority. There is no reason as to why organization could spend a lot of amount of the low priority risks as per the impacts of the outcomes, which could be low or may never happen. The second is the possible opportunities. The organization should be able to operate in order survive by avoidance of all the risk. To be able to be successful the risk should be taken in order to allow on all the opportunities to arise. The next factor would be compliance. When it comes to the risk management of the wastewater, there are risk, which are required to be controlled in order to comply with the laws as well as policies. One should take into the account especially when deciding on the risk strategy as it could limit on our options. The last factor to look at is the existing control. In case one implement on the existing control, the company should be able to focus on the improvement of the effectiveness before the implementation of the new costly measures has been done.

One change, which could require the risk plan to be changed, would be the cost of eliminating the risk being high (Turner, 2014). In such an event, it would be wise to change the plan and accept the risk because if you decide to transfer the risk, it could cause a major loss to the organization particularly if they were undertaking a major project (Turner, 2014). Another aspect which could cause the risk plan be updated is the nature of the project. Some project are very sensitive in nature and they require to be handled well. Such project entails a lot of resources and expertise. Updating the risk plan enables all the cost will be catered to finish the project and the way to which to handle it be formulated in case of any inconvenience, which may rise up.

The process of identifying on the method of dealing with them is regarded as the risk monitoring and the control. The cycle for monitoring and control entails the following components such as the risk urgency assessment, which entails the reviewing and determine the timing of the actions. Another component is the assessment of the risk, which entails identifying of the new risks as well as reassessing to the current ones.

When dealing with the risks, what information do you need before you can proceed?

The awareness of risk is important because it provides a reasonable oversight as well as increase the various range of benefits van der (Merwe-Botha & Manus,). What one requires to consider for the awareness of the risk are the impact the situation would become. If a given risk for example has an impact on the individuals, it is important to consider all the parameters involved and be able to find which could outlay the other. Further, the level of engagement to the risk from the various parties in also important to be able to have mechanism aimed to mitigate the risk even before it happened. The wastewater project the risks should be identified in order to be able to know the effective measure of the cost.

In the wastewater treatment, one can make the risk response in the hazardous environment. In this kind of the environment, we find the various hazard agent, which could cause damage or harm especially to the individuals particularly when there is toxic chemicals exposure (Snyder, 2014). In this environment, it is important to determine all the agents that causes the harm and be able to mitigate on the risk.

To be able to achieve the quality of the drinking water supply it is important to have an effective quality control over the processes as well as the activities, which govern the water quality (Snyder, 2014). The process control program usually include a preventive strategies which detail the specific quality factors that would ensure all the processes as well as the activities have been carried out much effectively and managed efficiently (Meredith, Mantel Jr  & Shafer, 2013). The documentation needs to include the description of the following parameter. The quality parameter to be monitored, the inspection requirements, sampling location as well as frequency, checking and the interpreting of the quality results. It also entails preventive as well as corrective actions in regarded to the quality to be implemented.

When it comes to finding information in regards to the process, impacts and outcomes one could review on the uncertainty in regards to how various processes are performing. It is important to make sure that the projects are moving towards the direction that you had planned (Burke, 2013). Additionally, when reviewing the project it is also important to look at the business plan if it is up to date. Sometime when undertaking a project, individuals tend to forget it is within a given period. Time aspect is important since it would have an impact of the project either negatively or positively. Looking at the information on the market, and resources required is also important element.

To be able help reduce the risk for the future project the following could be done. One way would be identify the risks early on the project (Turner, 2014). This entails review of the possible risk sources and the project team experiences as well as knowledge. The second would be consideration of the opportunities and the threats especially when assessing the risks (Kerzner, 2013). Additionally prioritizing on the risks is very important.  Some of the risks have a higher effect as well as the probability than the others. It is important to spend time on the risks, which caused the biggest losses as well as the gains. It is also important to understand on the reasons well as the impact of the risks (Kerzner, 2013).  The traditional problem solving usually involved the identification of the problem solution. However, before one could try to determine on the best way to mage the risks, it is important to identify the root causes of the risks that have been identified.

To be able help reduce the risk for the future project the following could be done. One way would be identify the risks early on the project (Burke, 2013). This entails review of the possible risk sources and the project team experiences as well as knowledge. The second would be communicate about the risks.

References:

Burke, R. (2013). Project management: planning and control techniques. New Jersey, USA.

Kerzner, H. (2013). Project management: a systems approach to planning, scheduling, and controlling. John Wiley & Sons.

Leach, L. P. (2014). Critical chain project management. Artech House.

Meredith, J. R., Mantel Jr, S. J., & Shafer, S. M. (2013). Project management in practice. Wiley Global Education.

). PMP, Project Management Professional (Certification Study Guides). McGraw-Hill Osborne Media.

Snyder, C. S. (2014). A Guide to the Project Management Body of Knowledge: PMBOK (®) Guide. Project Management Institute.

Phillips, J. (2013

Turner, J. R. (2014). The handbook of project-based management (Vol. 92). New York, NY: McGraw-hill.

van der Merwe-Botha, M., & Manus, L. wastewater risk abatement plans for municipal wastewater treatment.

Verzuh, E. (2015). The fast forward MBA in project management. John Wiley & Sons.

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