A Risk Mitigation, Monitoring and Management (RMMM) method has been applied. A “BRAG” analysis approach has been adopted which assigns scoring to risks on the basis of their likelihood and impact, then assigning each risk with the BRAG status (Black, Red, Amber or Green) which are in turn indicative of high likelihood, high impact (Black) to low likelihood, low impact (Green). As a result, six (6) risks of relevance (Red and Amber severity) were identified in the initial phase which warranted further scrutiny. To help project participants to identify and list as many potential risks as possible, a specific template for H2OCEAN has been prepared, forming the basis for the project risk register. Potential risks have then been analysed to assess the probability of occurrence and impact on H2OCEAN, should a risk occur. In short, these results highlighted the need for close scrutiny of the selection of sites related to the efficacy of the developments of the related WPs and their integral equipment.

This Deliverable is the result of the periodical review and update of D2.1 “Risk management and contingency plan”. All the initial risks included in the “Risks register” and presented in D2.1 were re-analysed and their BRAG status (severity) was re-assessed as well. Seven (7) additional risks have been identified, entered and categorised. In addition, nine (9) updates have been further introduced: five (5) risks have been updated by specifying corresponding mitigation actions and four (4) risks have been closed as either overcome or no longer significant. Overall, risk within and to the project -total project risk score- has increased from 1864 to 2098. However, average risk has only increased by 1.7 risk points, principally due to the extremely high risk factor associated with the failure or withdrawal of a partner.

As a result of the plenary technical session (held at the meeting; 23rd & 24th January 2013, at Roskilde, Denmark), certain parameters are to be adopted, to enable WP participants to commence work with a unified basis of understanding. This note outlines those parameters and should be considered as a working document subject to periodic review and update. This document concentrates on the Portugal location. Data for the North Sea and Mediterranean sites may be found in the appendices.