Abstract
There are frequently unexpected situations coming from different events resulting in many uncertainties which raise the difficulty in managing small and medium electrical & mechanical projects. These risks caused by uncertainties may impact the whole project success. For this reason, risk management becomes a critical topic discussed by project managers during project performance evaluation. The concept of active threat and opportunity management is a qualitative and quantitative analysis method to develop a standard risk management model that separates risk into varied levels and converts it as opportunity as well as reducing the probability of risk occurring during each stage of project implementation. This thesis tries to build and evaluate a risk management system employing the concept of active threat and opportunity management via an electrical & mechanical project case study. The study makes a case for the system; comprising an active process integrating multi-level risk analysis, interactive database, and accountable organization management; to prompt proper responses to risk and to consider for solutions that can reduce threat and raise opportunity before risk impacting on project. This thesis provides an example on the practices that produce active control performance (time, cost and quality) through the key stages of project progress, which could serve as a reference for the risk management in small and medium electrical & mechanical projects.