Risk Management Unit (RMU)

Risk Management Unit (RMU)

The Risk Management Unit (RMU) is an integral part of the Finance Department established under section 09 of the PPP Act, 2020 and involved in Public Private Partnership (PPP) projects.

Its main objective is to identify, assess, and mitigate potential risks that may arise during the implementation of PPP projects. The RMU plays a crucial role in ensuring the success of PPP projects by minimizing potential risks and ensuring that the project remains on track.

The RMU works closely with other departments and stakeholders involved in the PPP projects to ensure that all risk management activities are integrated into the project lifecycle. The RMU is responsible for making sure that the project remains on track and that potential risks are addressed in a timely and effective manner. The RMU's expertise in risk management helps to ensure that the project is delivered on time, within budget, and to the required quality standards.

The Risk Management Unit shall:

  1. Develop risk assessment and management guidelines for approval by the Committee.
  2. Provide support and advice to the Committee and the PPP Unit with regards to affordability, fiscal risk assessment and management at all key stages in Projects.
  3. Examine request for Government support and proposed risk sharing.
  4. Conducting risk assessments to identify potential risks to the project.
  5. Evaluating the likelihood and potential impact of identified risks.
  6. Developing and implementing risk mitigation strategies to minimize the impact of risks.
  7. Monitoring and reviewing the effectiveness of risk mitigation strategies on an ongoing basis.
  8. Communicating risk management policies and procedures to relevant stakeholders within the organization.
  9. Perform such other functions as may be prescribed in the rules or as the Committee may assign.

Wings 4662