Risk function structure can be determined by many factors. The energy industry, one of the largest industries and the parent industry for all the industries involve the most risk factors. PMI Risk Management Certification holders have sorted out the risk factors which can involve in the energy industry:
· Type of risk
· Where exactly it may occur
· What is the density of risk?
Risk management and risk control are solely responsible for every activity. On the functional end, there are different processes being carried out by these features. Those can be classified as:
Risk management:
During a process, the overall surveillance is carried out by the risk management department. Its job is to identify the arising risk and managing it. Furthermore, the steps to be taken in order to eliminate the ambiguity are also their responsibilities. These activities are normally carrying out at the process sites specifically.
Risk control:
PMI RMP Course has helped produce chief risk officers who are responsible for controlling the risk factors. The methodologies suggested by risk management experts are examined thoroughly and tested with respect to usability. This is considered as the second line of defense, which provides the inclusive approach for eliminating risk factors.
Risk audit:
It is necessary to have an internal audit team for risk. Risk audit is said to be the third line of defense, it provides an autonomous set of steps and review report for all the risk factors stating that either the company has a satisfactory approach for risk management and control.
The purpose of RMP Certification is to understand the general concepts and the specifications of risk factors and how to prevent the industry from risks. The measures taken to eliminate risk factors by indicating success techniques are also included in RMP course. Project estimation can also be improved for the better completion of targets and goals.
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