EN 62198:2014

Managing risk in projects - Application guidelines

IEC 62198:2013 provides principles and generic guidelines on managing risk and uncertainty in projects. In particular it describes a systematic approach to managing risk in projects based on ISO 31000, Risk management - Principles and guidelines. Guidance is provided on the principles for managing risk in projects, the framework and organizational requirements for implementing risk management and the process for conducting effective risk management. This standard is not intended for the purpose of certification. This second edition cancels and replaces the first edition, published in 2001, and constitutes a technical revision. This edition includes the following significant technical changes with respect to the previous edition: - major restructure and rewrite of the first version; - now aligned with ISO 31000, Risk management - Principles and guidelines. Key words: managing risk and uncertainty, ISO 31000

Risikomanagement für Projekte - Anwendungsleitfaden

Gestion des risques liés à un projet - Lignes directrices pour l'application

L'IEC 62198:2013 donne les principes et lignes directrices génériques en matière de management des risques et des incertitudes dans les projets. Elle présente en particulier une démarche systématique de management des risques en s'appuyant sur l'ISO 31000 Management du risque - Principes et lignes directrices. Les lignes directrices s'appuient sur les principes de management des risques liés aux projets, le cadre et les exigences organisationnelles de mise en oeuvre du management des risques et le processus d'exécution efficace de management des risques. La présente norme n'est pas destinée à la certification. Cette deuxième édition annule et remplace la première édition, parue en 2001, et constitue une révision technique. Cette deuxième édition inclut les modifications techniques majeures suivantes par rapport à l'édition précédente: - une restructuration majeure de la première version; - maintenant aligné avec l'ISO 31000, Management du risque - Principes et lignes directrices. Mots clés: management des risques et des incertitudes, ISO 31000

Upravljanje tveganja v projektih - Smernice za uporabo (IEC 62198:2013)

General Information

• Status: Published
• Publication Date: 27-Feb-2014
• Withdrawal Date: 31-Dec-2016
• ICS: 03.100.01 - Company organization and management in general
• Technical Committee: CLC/SR 56 - Dependability
• Drafting Committee: IEC/TC 56 - IEC_TC_56
• Current Stage: 6060 - Document made available - Publishing
• Start Date: 28-Feb-2014
• Completion Date: 28-Feb-2014
• Ref Project: SIST EN 62198:2014 - Managing risk in projects - Application guidelines

Relations

• Revised: prEN IEC 62198:2023 - Managing risk in projects - Application guidelines
• Effective Date: 22-Jan-2023

Standards Content (Sample)

SLOVENSKI STANDARD
01-april-2014
Upravljanje tveganja v projektih - Smernice za uporabo (IEC 62198:2013)
Managing risk in projects - Application guidelines
Gestion des risques lies a un projet - Lignes directrices pour l'application
Ta slovenski standard je istoveten z: EN 62198:2014
ICS:
03.100.01 Organizacija in vodenje Company organization and
podjetja na splošno management in general
2003-01.Slovenski inštitut za standardizacijo. Razmnoževanje celote ali delov tega standarda ni dovoljeno.

EUROPEAN STANDARD
EN 62198
NORME EUROPÉENNE
February 2014
EUROPÄISCHE NORM
ICS 03.100.01
English version
Managing risk in projects -
Application guidelines
(IEC 62198:2013)
Gestion des risques liés à un projet -  Risikomanagement für Projekte -
Lignes directrices pour l'application Anwendungsleitfaden
(CEI 62198:2013) (IEC 62198:2013)

This European Standard was approved by CENELEC on 2014-01-01. CENELEC members are bound to comply
with the CEN/CENELEC Internal Regulations which stipulate the conditions for giving this European Standard
the status of a national standard without any alteration.

Up-to-date lists and bibliographical references concerning such national standards may be obtained on
application to the CEN-CENELEC Management Centre or to any CENELEC member.

This European Standard exists in three official versions (English, French, German). A version in any other
language made by translation under the responsibility of a CENELEC member into its own language and notified
to the CEN-CENELEC Management Centre has the same status as the official versions.

CENELEC members are the national electrotechnical committees of Austria, Belgium, Bulgaria, Croatia, Cyprus,
the Czech Republic, Denmark, Estonia, Finland, Former Yugoslav Republic of Macedonia, France, Germany,
Greece, Hungary, Iceland, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Norway, Poland,
Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, Switzerland, Turkey and the United Kingdom.

CENELEC
European Committee for Electrotechnical Standardization
Comité Européen de Normalisation Electrotechnique
Europäisches Komitee für Elektrotechnische Normung

CEN-CENELEC Management Centre: Avenue Marnix 17, B - 1000 Brussels

© 2014 CENELEC - All rights of exploitation in any form and by any means reserved worldwide for CENELEC members.
Ref. No. EN 62198:2014 E
Foreword
The text of document 56/1529/FDIS, future edition 2 of IEC 62198, prepared by IEC/TC 56
"Dependability" was submitted to the IEC-CENELEC parallel vote and approved by CENELEC as
The following dates are fixed:
(dop) 2014-10-01
• latest date by which the document has to be
implemented at national level by
publication of an identical national
standard or by endorsement
• latest date by which the national (dow) 2017-01-01
standards conflicting with the
document have to be withdrawn
Attention is drawn to the possibility that some of the elements of this document may be the subject of
patent rights. CENELEC [and/or CEN] shall not be held responsible for identifying any or all such
patent rights.
Endorsement notice
The text of the International Standard IEC 62198:2013 was approved by CENELEC as a European
Standard without any modification.
In the official version, for Bibliography, the following notes have to be added for the standards indicated:

IEC 60812 NOTE Harmonized as EN 60812.
IEC/ISO 31010 NOTE Harmonized as EN 31010.

- 3 - EN 62198:2014
Annex ZA
(normative)
Normative references to international publications
with their corresponding European publications

The following documents, in whole or in part, are normatively referenced in this document and are
indispensable for its application. For dated references, only the edition cited applies. For undated
references, the latest edition of the referenced document (including any amendments) applies.

NOTE  When an international publication has been modified by common modifications, indicated by (mod), the relevant EN/HD
applies.
Publication Year Title EN/HD Year

ISO 31000 - Risk management - Principles and - -
guidelines
IEC 62198 ®
Edition 2.0 2013-11
INTERNATIONAL
STANDARD
NORME
INTERNATIONALE
colour
inside
Managing risk in projects – Application guidelines

Gestion des risques liés à un projet – Lignes directrices pour l'application

INTERNATIONAL
ELECTROTECHNICAL
COMMISSION
COMMISSION
ELECTROTECHNIQUE
PRICE CODE
INTERNATIONALE
CODE PRIX X
ICS 03.100.01 ISBN 978-2-8322-1192-2

– 2 – 62198 © IEC:2013
CONTENTS
FOREWORD . 4
INTRODUCTION . 6
1 Scope . 7
2 Normative references . 7
3 Terms and definitions . 7
4 Managing risks in projects . 9
5 Principles . 11
6 Project risk management framework . 12
6.1 General . 12
6.2 Mandate and commitment . 13
6.3 Design of the framework for managing project risk . 14
6.3.1 Understanding the project and its context . 14
6.3.2 Establishing the project risk management policy . 14
6.3.3 Accountability . 15
6.3.4 Integration into project management processes . 16
6.3.5 Resources . 16
6.3.6 Establishing internal project communication and reporting
mechanisms . 16
6.3.7 Establishing external project communication and reporting
mechanisms . 17
6.4 Implementing project risk management . 17
6.4.1 Implementing the framework for managing project risk . 17
6.4.2 Implementing the project risk management process . 17
6.5 Monitoring and review of the project risk management framework . 17
6.6 Continual improvement of the project risk management framework . 18
7 Project risk management process . 18
7.1 General . 18
7.2 Communication and consultation . 19
7.3 Establishing the context . 20
7.3.1 General . 20
7.3.2 Establishing the external context . 20
7.3.3 Establishing the internal context . 21
7.3.4 Establishing the context of the project risk management
process . 21
7.3.5 Defining risk criteria . 22
7.3.6 Key elements . 22
7.4 Risk assessment . 23
7.4.1 General . 23
7.4.2 Risk identification . 23
7.4.3 Risk analysis . 24
7.4.4 Risk evaluation . 25
7.5 Risk treatment . 25
7.5.1 General . 25
7.5.2 Selection of risk treatment options . 25
7.5.3 Risk treatment plans . 26
7.6 Monitoring and review . 26
7.7 Recording and reporting the project risk management process . 27

62198 © IEC:2013 – 3 –
7.7.1 Reporting . 27
7.7.2 The project risk management plan . 28
7.7.3 Documentation . 28
7.7.4 The project risk register . 28
Annex A (informative) Examples . 30
A.1 General . 30
A.2 Project risk management process . 30
A.2.1 Stakeholder analysis (see 7.2) . 30
A.2.2 External and internal context (see 7.3.4) . 31
A.2.3 Risk management context (see 7.3.4) . 33
A.2.4 Risk management context for a power enhancement project . 33
A.2.5 Risk criteria (see 7.3.5). 34
A.2.6 Key elements (see 7.3.6) . 34
A.2.7 Risk analysis (see 7.4.3) . 36
A.2.8 Risk evaluation (see 7.4.4) . 40
A.2.9 Risk treatment (see 7.5) . 40
A.2.10 Risk register (see 7.4.2 and 7.7.4) . 41
Bibliography . 42

Figure 1 – Principal stakeholders in a project . 11
Figure 2 – Relationship between the components of the framework for managing risk,
adapted from ISO 31000 . 13
Figure 3 – Project risk management process, adapted from ISO 31000 . 19
Figure A.1 – Risk management scope for an open pit mine project . 34
Figure A.2 – Distribution of costs using simulation . 40

Table 1 – Typical phases in a project . 10
Table A.1 – Stakeholders for a government project . 30
Table A.2 – Stakeholders and objectives for a ship upgrade . 31
Table A.3 – Stakeholders and communication needs for a civil engineering project . 31
Table A.4 – External context for an energy project . 32
Table A.5 – Internal context for a private sector infrastructure project . 33
Table A.6 – Criteria for a high-technology project . 34
Table A.7 – Key elements for a communications system project. 35
Table A.8 – Key elements and workshop planning guide for a defence project . 36
Table A.9 – Key elements for establishing a new health service organization . 36
Table A.10 – Example consequence scale . 37
Table A.11 – Example likelihood scale . 38
Table A.12 – Example of a matrix for determining the level of risk . 38
Table A.13 – Example of priorities for attention . 40
Table A.14
...