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H&ER is a register used to compile all risks identified in a project from various risk assessment activities, workshops, etc, the potential consequences and existing safeguards for each risk. The register is also used to track all recommendations. Therefore the H&ER requires frequent updates to be effective.
The purpose of the H&ER is to provide the project with a single document which identities all risks which the project may expect and the management of these risks. This allows the project management to focus on these risks and provide adequate resources to manage them.
Typically, H&ER for CAPEX and OPEX are managed separately as not all risks and consequences are common in both phases.
Crude oil, natural gas, LNG, gas processing and export, oil refining, pharmaceutical plant, coal chemical processing, fertilizer and agriculture chemical processing, chemical refining, etc.
The H&ER should be adopted at the start of any project to allow effective risk management. It provides the project management with an auditable and tracking document for risk management.
