Risk Analysis and Management for Projects (RAMP)

RAMP (Risk Analysis and Management for Projects) is a well-established framework for analysing and managing the risks involved in projects. It aims to achieve better financial returns for sponsors, investors and lenders, and improve the consequences of projects for the wider community.

Risk analysis and management for projects
Risk analysis and management for projects

Who wrote this?

This framework was produced by the Institution of Civil Engineers (ICE) and the Institute and Faculty of Actuaries.

When?

The latest version of the RAMP framework was published in June 2014.

Why?

Businesses increasingly need to manage their projects in a turbulent environment, where change is often unexpected and continuous. RAMP's systematic approach helps to ensure that risks are effectively identified, analysed and controlled, and that newly emerging risks can be spotted while there is still time to do something about them.

Who should read this?

With an emphasis on the strategic and financial aspects, this practical working guide will assist planners, engineers, accountants, actuaries, lawyers, project managers, public administrators and anyone else who is involved with a project's success.

Content

Risk and uncertainty surround every human activity and influence everything we do.

RAMP (Risk Analysis and Management for Projects) is a well-established framework for analysing and managing the risks involved in projects, whether large or small. With an emphasis on the strategic and financial aspects, this practical working guide will assist planners, engineers, accountants, actuaries, lawyers, project managers, public administrators and anyone else who is involved with a project's success.

Businesses increasingly need to manage their projects in a turbulent environment, where change is often unexpected and continuous. RAMP's systematic approach helps to ensure that risks are effectively identified, analysed and controlled, and that newly emerging risks can be spotted while there is still time to do something about them.

The benefits of applying RAMP include:

  • Avoidance of wasted work, because of the iterative nature of the process.
  • Consideration of opportunities as well as threats.
  • Improvement of the credibility of the business case for the project.
  • Consistency with approaches to Enterprise Risk Management (ERM) in the project sponsor's organisation.
  • Greater confidence for those who decide on whether projects should proceed.
  • Recording and communication of "lessons learned".

This new and much improved edition of the RAMP Guide:

  • Sets out practical ways of managing uncertainty and risk.
  • Includes new step-by-step guidance for practitioners.
  • Provides a simple method for determining whether possible responses to risks would be cost-effective.
  • Shows how to summarise a project's risks for decision-makers.
  • Discusses how to tackle social and environmental risks in infrastructure projects. Works as a check-list to ensure that important steps are not overlooked.

RAMP aims to achieve better financial returns for sponsors, investors and lenders, and help to improve the consequences of projects for the wider community.

Here are some useful bits, excised from RAMP 2nd edition, but that might still be useful:

For further information about RAMP, and to buy individual chapters, please visit the Virtual Library. To buy the book, please visit our online bookshop.

For more information or questions, please contact info@icepublishing.com.

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