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Project Risk Control

Project Risk Control. Doug Off Ojai Oil Company Golden State Storage May 02, 2012. Lake View Oil #1 03/14/1910 – 02/15/1955. 8.25 million barrels produced 4.3 million barrels saved The rest an ecological disaster. Dry Hole - $3,685,000. What is Risk Control?.

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Project Risk Control

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  1. Project Risk Control Doug Off Ojai Oil Company Golden State Storage May 02, 2012

  2. Lake View Oil #103/14/1910 – 02/15/1955 8.25 million barrels produced 4.3 million barrels saved The rest an ecological disaster

  3. Dry Hole - $3,685,000

  4. What is Risk Control? • Risk consists of two things: • The probability that something will go wrong • The negative consequences that will occur if something does go wrong. • Risk control allows you to identify and manage potential problems that could undermine key business initiatives or projects.

  5. Steps for preparing a Risk Control Analysis… • Identify threats before you start the project. • Assess the likelihood of the risk happening and possible impact • Manage the risk • Continue conducting regular reviews – don’t lose track of the balance sheet!

  6. Social Science’s Place in Business Decisions • Risk is less acceptable at a higher level of management - desire to not be the person responsible for failure • Moral equivalence – using a small risk as a justification for performing a larger risk • Guilt or shame vs. risk • Risk is happiness • Jyn – the Moroccan spirit of good and bad

  7. Risk vs. Reward: Upgrades to Santa Fe Springs Storage Facility • Before (August 2011) • After (April 2012)

  8. Removal of Old Landscaping

  9. Trench Dug For New Power

  10. Office – One Month Progress

  11. Second Floor Removed(Joists Too Short)

  12. New Apartment Being Framed

  13. Scaffolding Used to Finish Outside of Office Building

  14. HVAC Unit Being Installed

  15. New Awning Being Installed on Office Building

  16. New Monument Sign

  17. Night Shot of Main Office

  18. Inside Upgraded Office

  19. Inside Resident Manager’s Upgraded Apartment

  20. Happiness is knowing you have a ride back…..maybe

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