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SOCIAL SECURITY SYSTEMPHILIPPINE BIDDING DOCUMENTS
Sixth EditionProcurement of
INFRASTRUCTURE
PROJECTS
RENOVATION OF RISK
MANAGEMENT DIVISIONITBSSSCIVIL2024003Government of the Republic of the Philippines
MAY
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What is renovation of risk?
Renovation of risk refers to the process of updating and evaluating the existing risks associated with a particular project or asset, ensuring that all potential hazards and changes in circumstances are adequately assessed.
Who is required to file renovation of risk?
Entities involved in projects or operations that may pose potential risks are typically required to file renovation of risk, including businesses, contractors, and organizations that manage hazardous materials or environments.
How to fill out renovation of risk?
To fill out renovation of risk, one must complete a designated form that includes details about the project, current risk assessments, mitigation strategies, and any changes to the original risk profile.
What is the purpose of renovation of risk?
The purpose of renovation of risk is to ensure ongoing safety and compliance by regularly evaluating and updating risk assessments, thereby reducing potential liabilities and enhancing operational safety.
What information must be reported on renovation of risk?
Information that must be reported includes the nature of the risks, assessment results, changes in operation or conditions, mitigation measures, and contact information for responsible parties.
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