• Hashmi Syed Abraar Syed Zaiauddin
• Kiran H Ghorpade

Abstract - Considerable work has been carried out on risk qualitative and quantitative assessment but far less on risk identification. This paper introduces a newly developed method for risk identification, based on micro risk breakdown structure and newly introduced identification procedure called preventive root cause and effective remedial. Project risk management has evolved over the past few decades. It probably could have started with astute project managers anticipating problems during project execution and developing a pre-planned strategy to overcome these. It has now advanced into a structured risk management process that is well integrated into all project management Knowledge Areas. The relationship between the client’s project team (CPT) and the consultant’s or the engineering, procurement, construction and management project team (EPCM) will be a determining factor in the success of the project. It is essential that a spirit of co-operation, support and respect be nurtured throughout the project life cycle. Should this aspect be neglected, relationships will soon spiral down to an adversarial and pejorative mode with dire consequences for the project as a whole. Certain hold points will be indicated by the CPT for which approval must be sought by the PM before work can proceed on any activity. This process will be accurately defined and included in the schedule

Procurement Construction Management (EPCM), Client Project Team (CPT), Risk Management, User Requirement Statement (URS

"REVIEW ON RISK MANAGEMENT IN EPCM PROJECT ", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.9, Issue 12, page no.c16-c18, December-2022, Available :http://www.jetir.org/papers/JETIR2212203.pdf

"REVIEW ON RISK MANAGEMENT IN EPCM PROJECT ", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.9, Issue 12, page no. ppc16-c18, December-2022, Available at : http://www.jetir.org/papers/JETIR2212203.pdf