Chapter 20 Implementing Risk Management within Middle Eastern Oil

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Chapter 20 Implementing Risk Management within Middle Eastern Oil

Answer all questions.

1. Identify and discuss at least three of the challenges the newly formed risk management team faced.

2. Select one of the divisions (IT, Legal, Project Management or Environmental) and explain how that department can interact with and support the risk management team to help manage risks identified with that department.

3. How can the Board of Directors be confident in the information reported on management’s progress in responding to significant risks?

4. What were some of the challenges of the data gathering process used for the Corporate Risk Exercise used in 2010/2011?

5. Using the case study information (Exhibits 20.9, 20.10, 20.11, and 20.12), provide a list of at least 10 potential corporate risks that might have been identified by the project team. In your opinion, identify the three most important risks that should be addressed and explain your reasons for selecting each risk.

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