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Conferences
Project Risk Management & Compliance
REF : C605 DATES: 4 - 8 Nov 2024 VENUE: Kuala Lumpur (Malaysia)> FEE : 5850 €
Overview:
Introduction
This conference will emphasize awareness of project risk management to minimize project cost/schedule overruns & improve project execution.
Project management is all about the management of risks; the ability to seize opportunities, minimize threats and optimize results. However, risk management is too often treated as a reactive process, or worse, not done at all. In this Project Risk Management conference, you’ll work through the proactive approach to both sides of risk: threats and opportunities. The approach is based on a clear understanding of both qualitative and quantitative approaches to risk management.
Conference Objectives:
At the end of this conference the participants will be able to:
- Get an overview of the Risk Management Process
- Learn to identify risks that affect project quality, time & schedule, cost, and scope
- Learn how to rank risks based on the amount of exposure to the company
- Apply useful techniques to identify, analyze, mitigate and monitor risks in the project life cycle
- Develop the skill necessary to quantify risks
- Learn how to create an effective risk monitoring plan and risk management strategies.
- Use a practical, six-step process to manage project risk
- Develop a risk budget based on expected monetary value (EMV)
- Examine both the threats and opportunities facing their projects from both a top-down and bottom-up perspective using a proven six-step risk management process.
Targeted Audience:
- Project Owners and Clients
- Professionals whose roles involve leading and directing projects
- Project Managers, Risk Managers and Project Team Leaders
- All Personnel who are involved in carrying out project work assignments
- Project Administrators, Supervisors and Support Staff
- Project Planners, Schedulers, Cost Controllers and Engineers
- Personnel working for project contractors and suppliers
Conference Outlines:
Unit 1: Risk Management Framework and Planning:
- Key definitions
- Project Management Body Of Knowledge (PMBOK) - 6 risk management processes
- Project risk management goal
- Purpose of risk management
- Benefits of risk management
- Responsibilities in risk management
- Integrating risk management into the project management process
- Components of risk
- Types of risk
- Six steps of risk management
- Plan the approach to risk management
- Risk Identification
- Risk Assessment & Quantification
- Risk Response Plan Development
- Risk management plan execution
- Evaluating risk response results
Unit 2: Risk Identification Processes:
- Identification inputs & tools
- Identification guidelines
- Risk identification techniques
- Risk categories
- Risk identification outputs
Unit 3: Cost & Schedule Estimating Concerning Risk:
- Cost estimating classes & types
- Cost estimating methods
- Accuracy, allowances, contingency & management reserve
- Work Breakdown Structures (WBS)
- Schedule diagramming - critical path method (CPM)
- Resource management
- Earned value method (EVM)
- Baselining
Unit 4: Risk Assessment and Quantification Processes
- Risk analysis inputs
- Risk analysis guidelines
- Probability analysis
- Impact analysis
- Risk analysis approaches - qualitative & quantitative
- Risk analysis tools & techniques
- Statistical sums in risk analysis
- Program Evaluation & Revue Technique (PERT)
- Decision trees
- Project risk rating & prioritizing
- Risk analysis outputs
Unit 5: Risk Response Plan Development:
- Risk response development inputs, tools & techniques
- Risk response strategy guidelines
- Response strategies for threats
- Response planning & network diagramming
- Response analysis
- Alternative responses
- Reserves - contingency & management
- Response planning outputs
Unit 6: Risk Response Control:
- Risk management plan execution (Step 5).
- Risk response control tools.
- Risk response control guidelines.
- Risk strategy execution.
- Evaluating risk response results (Step 6).
- Risk documentation.