IEC 62198:2013

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

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

General Information

• Status: Published
• Publication Date: 26-Nov-2013
• ICS: 01 - GENERALITIES. TERMINOLOGY. STANDARDIZATION. DOCUMENTATION
• ICS: 03.100.01 - Company organization and management in general
• Technical Committee: TC 56 - Dependability
• Drafting Committee: MT 11 - TC 56/MT 11
• Current Stage: PPUB - Publication issued
• Start Date: 30-Nov-2013
• Completion Date: 27-Nov-2013

Relations

• Revises: IEC 62198:2001 - Project risk management - Application guidelines
• Effective Date: 05-Sep-2023

Standards Content (Sample)

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
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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 – Example of a treatment options worksheet . 41
Table A.15 – Simple risk register structure .
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