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Course Outline

Holistic Project/Program Risk & Uncertainty Management Download Course Brochure
  • Perspectives on project/program risk, uncertainty, threat, complexity and opportunity management
  • Why it's not just about delivering on time and on budget
  • Is risk necessarily a bad thing?
  • What is wrong with present risk management approaches and why we must change our thinking models and approaches
  • Classes of risks and impacts on different parties
  • Relationships to project decisions and actions
  • Risk, uncertainty and complexity mindset
  • Holistic framework and dynamic approach

Pervasive and Elusive Nature of Risks and Opportunities

  • Overview of the nature of risks and opportunities
  • Case study examination to illustrate pervasive and elusive nature of risks
  • Evaluating the different perspectives on the case study, and lessons learnt
  • Defining the framework for project elaboration leveraging opportunities, resolving risks and catering for change

A Contractor/Sub Contractor Perspective on Risks, Opportunities and Uncertainty Management

  • What is the contractor's perspective on risk and uncertainty management?
  • Developing a project case study
  • Opportunity identification (pre-bid stages)
  • Risk management versus base case solution (proposal preparation)
  • Applying risk management as means of creatively deriving breakthrough solutions
  • Re-engineering the project solution and building in added value, over and above delivering on time and on budget


Are You Equipped to Effectively Apply Risk Management to Improve Your Project Outcomes? Assessing and Benchmarking Your Competencies vs. Your Peers

  • Overview of typical case examples where risk and uncertainty management are effectively/ineffectively applied to the improvement of project outcomes
  • Self assessment of individual competencies in risk, opportunity and uncertainty management
  • Peer assessment of individual competencies in risk, opportunity and uncertainty management
  • Group assessment of the results (current focus, mindsets, competencies, approaches)
  • Group debate on needs analysis and personal development

Key Elements of Best Practice, Opportunity and Uncertainty Management

  • Holistic process and dynamic feedback
  • Risk/opportunity identification
    - project related risks
    - organisation related risks
    - environment related risks
  • Risk/opportunity evaluation
    - setting up models
    - analysing risks
    - evaluation and interpretation
  • Risk classification
    - Major, moderate, minor
    - Business, implementation
    - External, internal
  • Risk and opportunity response planning
    - optimum responses
    - risk action schedules
    - resources & responsibilities
  • Risk management documentation
    - risk management plan
    - action schedules and measures
    - Implementation and monitoring
    - implementation plans
    - contingencies
    - apply, monitor, change plan, realign


Analysing a Case Project's Risks -Owner's Perspective

  • Project management framework and information required for the case project
  • Critical areas of the case project
  • Agreed statement on project management framework for case project and identification of missing information/assumptions
  • Define total risk assessment and management framework
  • Identify risks, uncertainties, opportunities and threats
  • Determine quantification and evaluation techniques
  • Formulating a strategy for management of risks, opportunities, uncertainties


Developing a Cross Analysis of the Case Project Risks -Contractor's Perspective

  • Application of total risk process at preliminary (pre-bid) stage to process opportunities
  • Identification of risks and constraints pertaining to base plan/solution (proposal stage)
  • Decide on the quantification and evaluation techniques
  • Formulating strategy for proposal preparation

Combining Case Project Risks and Opportunities

  • Prioritising Risks for both the owner and contractor
  • Major risks to owner and contractor
  • Moderate risks to owner and contractor
  • Minor risks to owner and contractor
  • Formulating strategy for a win-win solution
  • The contractor as a project partner

Combined Risk and Value Engineering: A Creative Approach to Achieving Breakthrough Improvements to Project Outcomes

  • Examining the business and strategic value to the client
  • Setting targets exceeding original targets with regard to project performance on:
    - Financial
    - End product quality and operability
    - Due diligence (legal and statutory requirements)
    - Stakeholder management
  • Developing a creative approach -reengineering a project from a multitude of dimensions, including:
    - Financial
    - Organisational
    - Contractual
    - Environmental
    - Market perspectives
  • Formulation of strategies to capture value, tap opportunities and resolve uncertainties
  • Summarising, key takeaways and proceeding to the next stage

Creative Approach to Contractor Risk Response Planning -Case Analysis

  • Setting stretched targets and generation of alternatives
  • Re-engineering the base plan and developing breakthrough solutions
  • Capturing, refining and presenting the new solution for a winning proposal
  • Risk informed decision making and implementation of the project solution post award

General Discussion & Key Take-Aways

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