Project Safety is a wide term that may refer to a variety of interrelated things, for example:
- Project Safety (level of riskiness) – characteristic of a project given in terms of associated risks, so the potential investors may evaluate level of their interest (safety of their investments): if a project has a comparably low risk profile, then it is considered safe enough for investments and profits (certain guarantees, such as given by government, can increase project safety).
- Project Safety (ecology and people) – this is defined by safety of technologies involved into the project execution, including use of some toxic, radioactive or biologically hazardous substances. Moreover, a conception of project safety embraces a number of requirements for electrical and physical compliance of the equipment, tools, operations and processes used during the project’s life-cycle. Safety of the project methods (for people and environment) should be approved with proper bodies of governance.
- Project Safety (corporate strategy and plans) – sometimes a project may be considered as unsafe for a company’s business plans. This issue may happen when a project is poorly compliant with the business needs, objectives or strategies, so this project is rather a luxury, not a real business need. Such projects consume resources, but real value of their outcomes is quite hazy yet. This kind of projects is unsafe for a company’s success.