New risk monitoring tools for the construction and erection phase of large industrial projects

The purpose of this paper is twofold: first, it aims to critically analyse procedures and tools currently available for insurance companies to supporto project risk management; secondly it proposes a new tool to assist risk engineers in evaluating the main features of project risks. The first part of the paper introduces the concepts of Project Risk Management, describing its relevant processes. The role of insurance companies is then introduced focusing on the main activities of typical insurers Risk Engineering Departments during the different project phases. The second part of the paper uses a case study to present an analysis the proposed tools developed to support insurance companies in managing a project risk.