پروژه عملی مدیریت ریسک: مورد یک شرکت ابزار در آفریقای جنوبی

This paper documents the risk management practice of a utility company for its Recovery Plan project to address the risks of power interruptions due to a shortfall of supply and increasing electricity demand. The company’s corporate risk management process and its practice at divisional and project levels are discussed. The key role of stakeholders in risk identification, analysis, mitigation, monitoring and reporting is emphasised by the company and this drives its risk management practice. Despite the level of resources available within the company to use more sophisticated risk management tools, the company adopts simple risk management methods suggesting that a large size company does not necessarily use ‘state of the art’ risk management techniques. Recommendations for improved practice are made.

Risk management continues to be a major feature of the project management of large construction, engineering and technological projects in an attempt to reduce uncertainties and to achieve project success. Miller and Lessard [1] have argued why large engineering projects should be carefully managed given that they are “high stakes games” characterised by substantial irreversible commitments, skewed reward structures in case of success, and high probabilities of failure. In addition, they categorised the risk associated with different types of projects ranging from oil platform projects, nuclear-power projects, hydro-electric-power projects, urban transport projects, road and tunnel systems, and research and development projects. They are of the opinion that power projects possess moderate risks in so far as engineering is concerned, but are very difficult in terms of social acceptability. Elkingston and Smallman [2] examined project risk management practices of British utility companies given that the utilities sector (comprising water, power, telecommunications) is associated with less predictable projects which are perceived to be riskier than day-to-day business activities. They argued that risk management is an integral part of project management in this sector; hence, most large companies put substantial resources into the management of their business risk.

The objective of this paper was to document the process of risk management used by a utility company for managing risks associated with its projects. The paper has reflected on the theory and practice of risk management by presenting risk management of the Recovery Plan project of the Distribution Division of Eskom Holding Ltd in South Africa. The company’s risk management system policy allows for total risk integration between divisions, regions and functional departments. The company ensures that a risk management process forms part of its strategy and develops a company governance structure to implement and maintain the process. However, potential risks and opportunities are identified within its various business divisions, departments and functions. Risk accountability is implemented at the company, divisional and project levels by assigning risks to the members of the risk management team to ensure that mitigating actions are implemented. The progress of risk mitigation is tracked on a regular basis.