Effective Facility Closure: A Risk Management Perspective
Facility closures need the effective application of project management techniques to ensure that the closure can effectively be completed with safe, physically secure, and economically, environmentally, and socially responsible outcomes. Risk management is among the key project management processes that provide systematic accounting of project uncertainties and risks to ensure a right set of strategies are incorporated into the project execution to properly respond to various project risks. It involves identification of potential risks, assessment of their likelihood, estimating their impacts, devising strategies to treat risks in a systematic manner, implementing risk-response strategies, and monitoring the risks over the project life cycle.
This article aims to address the need for applying project risk management techniques to facility closures, and identifies appropriate project risk management strategies for effective management of facility closure projects.
A facility closure project is initiated once needs for closing down a facility arise. A typical facility closure project primarily includes closure and remedial investigation, feasibility study, remedial and closure design, remedial and closure actions, and post-closure facility surveillance.
Treating a facility closure as a project increases the likelihood of achieving the objectives
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