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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


INTERACTIVE SESSION:

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


CASE STUDY WORKSHOP SESSION

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


CASE STUDY WORKSHOP SESSION

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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