Mapping and management of extreme scenarios. The purpose of analysis of extreme scenarios is to identify potential risk events, that may have extraordinary impact on the Project and to evaluate their potential consequences. An extreme scenario is an event that may cause a material loss / damage to the Project, regardless of whether it can be measured on the quantitative level or on the qualitative level, and for this scenario an individual and unique preparations are required. An extreme scenario by its nature is such that the probability for its occurrence is very low. The analysis of extreme scenarios includes the following stages: Determining tests to define extreme events defining the variables that comprise the extreme scenarios Forming potential extreme scenarios Inspection of the effectiveness of handling in an extreme scenario Forming a handling plan for the scenario Orderly discussion of the scenarios and approval of the policy as to the manner of handling them Activity category Extreme scenario Impact (pursuant to impact criteria) Action taken to prepare for the occurrence of extreme scenarios Action planned to prepare for the occurrence of extreme scenarios Here is an example of an extreme event mapping format:
Appears in 3 contracts
Sources: Consulting and Management Services Agreement, Consulting and Management Services Agreement, Consulting and Management Services Agreement