Risk is the main cause of uncertainty in any organization. Thus, companies increasingly focus more on identifying risks and managing them before they even affect the business. The ability to manage risk will help companies act more confidently on future business decisions. Their knowledge of the risks they are facing will give them various options on how to deal with potential problems.
Organizations face internal and external actors and influences that make it uncertain whether, when, and the extent to which they will achieve or exceed their objectives. The effect this uncertainty has on the organization’s objectives is risk.
Risk management is important in an organization because without it, a firm cannot possibly define its objectives for the future. If a company defines objectives without taking the risks into consideration, chances are that they will lose direction once any of these risks hit home.
The highlights of this training course are:
- Examine both the threats and opportunities facing your projects from both a top-down and bottom-up perspective using a proven six-step risk management process
- Evaluate and respond to risk at the project as well as the task levels
- Anticipate possible causes of cost and schedule overruns, together with poor quality of work. By identifying the warning signs to these as early as possible in the project timely corrective action can be taken to minimize or mitigate the impact
An issue facing most projects is compliance; with both internal corporate policy and with government regulations. Failure to properly proceed in this area can result in costly schedule and budget problems on a project.
- Gather and define correctly the client’s requirements
- Establish project goals and objectives that are directly linked to project stakeholders’ needs and expectation
- Establish the project scope using proven techniques
- Develop and use the project work breakdown structure for planning, scheduling and control purposes
- Develop realistic and measurable objectives to ensure positive result
- Effectively assign roles and responsibilities to the project team members
- Estimate project time and costs using proven techniques and the latest methods available
- Establish an effective and efficient earned-value project control system for monitoring and controlling project progress
- Monitor project progress and performance using critical success factors and key performance indicators
- Use a practical and effective, step-by-step process to manage project risks
- Identify threats and opportunities to your project, weigh their relative values in order to effectively develop, establish and implement response plans
- Identify and overturn the psychological barriers to risks in stakeholders
- Assess the importance of anticipating, managing and controlling project changes
- Plan, execute and control an effective project closure
WHO SHOULD ATTEND?
Individuals from all industries, government bodies, non-profit organizations and any one who are interested in learning techniques for managing projects will find this Project Management & Compliance training course valuable.
-Managers and senior managers with responsibility for risk management
-Participants working in organizations where risk management is a core activity
-Participants from public or private sector organizations, including those who do not have a specific risk management function, yet there are elements of risk in their roles and organizations
-Entrepreneurs who need to manage the risks associated with establishing and growing their business
-C-suite participants seeking to develop their understanding of risk and organisational risk management processes.
Project management knowledge, skills, tools and techniques are taught through case studies, experiential exercises and practical examples that can used immediately to improve your project results.
This interactive training course includes the following training methodologies as a percentage of the total tuition hours:
- 30% Lectures, Concepts, Role Play
- 30% Workshops & Work Presentations, Techniques
- 20% Based on Case Studies & Practical Exercises
- 20% Videos, Software & General Discussions
- Pre and Post Test
This Project Management & Compliance training course addresses both the “hard” skills and the “soft” skills needed by project managers to plan and control projects. The “hard” skills are the technical “mechanics” of managing a project, while the “soft” skills deal with the human issues, and ultimately, it is people who deliver results on projects.
The goal of this training course is to assist organizations in developing project managers who are aware of the strategic importance that project management plays in the achievement of the mission of their organization, and their role in leading the way to better performance and profits.
PMBOK® Guide is a registered mark of the Project Management Institute, Inc.
Both private and public organizations will greatly benefit from systematic approach to managing project, which will improve the likelihood of on-time and on-budget project completion by focusing on:
- Risk Management Planning in line with project objectives
- Proactive identification of risk sources and minimization of their impact
- Knowledge of Risk Compliance issues and practices
- Understanding the relationship between Risk, Scope, Cost & Time
- Knowledge of Mathematical Techniques used in Risk Analysis
- Evaluating alternative risk strategies and modifying project plans accordingly
- Identify threats and opportunities and weigh their relative value in your project
- Learn how to rank risks based on the amount of exposure to the company
- Develop the skill necessary to quantify risks
- Employ the concept of Expected Monetary Value (EMV) to prioritise the risk mitigation strategy
- Control multiple risks using concise strategies
- Make risk and opportunity integral components of your next project plan
- Reserves - contingency & management
Fundamental Project Risk Concepts
- What is risk?
- What is different about project risk in the Organization?
- The dual nature of risk: - threats and opportunities
- Business, operational and project risk
- Introducing the Project risk process
- Planning Project risk
- Roles & Responsibilities and Identifying Risks
- Key risk management roles and responsibilities
- Risk Management at various levels of an organization
- Practical experience with risk assessment & risk management in various organizations
- Risk Management throughout a project life cycle
Roles and responsibilities of the Risk Project Manager
- Specific responsibilities of the risk project manager
- Skills and attributes needed to be risk project manager
- Role of the risk project manager
- Types of Risk Managers and Types of Risk
- Insurance Agents
- Salaried Employees Who Manage Risk for Company
- Independent Consultants Who Provide Risk-Management Services.
- Types of Risks That Managers Should be aware
- The Evolution of Risk Manager
Organizations specific techniques in risk project management
- Overview of MAR, LOPA, HAZID HAZOP
- The ‘Bow Tie’ methodology
- Categorization and the use of Risk Breakdown Structure (RBS
- Alternative Risk Analysis assessment formats & recommended practices in the organization
- Differences between Qualitative, Semi-Quantitative and Quantitative
- Emerging Areas of Risk Management
- Enterprise Risk Management
- Assessing Risks Associated With Doing Business
Risk project Responses
- Implementing Risk Responses
- Perception, past experience and mental outlook
- External factors - regulator activities & the effect of accidents in the organization
- An overview of Modeling and Monte Carlo simulations
- Pro’s and con’s of risk management
- Methods to increase company-wide awareness,
- Understanding & senior level support
- Business Risks vs Technical Risks vs Implementation Risks
Reporting and Communicating Risk, Extracting Lessons & Lessons Learned
- Risk reporting
- Escalating risks
- Embedding the risk management process
- How to identify and feedback lessons learned
- Key risk management lessons in the organizations and megaprojects in particular
- Applying the lessons and how to implement in an organization
- 08:30 – 10:15 First Session
- 10:15 – 10:30 Coffee Break
- 10:30 – 12:15 Second Session
- 12:15 – 12:30 Coffee Break
- 12:30 – 14:00 Third Session
- 14:00 – 15:00 Lunch
The Fee for the seminar, including instruction materials, documentation, lunch, coffee/tea breaks & snack :