New - Formalized and Systematic Risk Management Process for Complex Projects with Esra Tepelli
DescriptionTopics: Business Analysis | Risk Management | Risk Mitigation | Complexity | Project Management
Project risks can give negative impacts on project objectives such as delay, cost overruns, and decrease in quality and security aspects. Complex projects are affected by numerous risks and opportunities because of their complex organizational plan, complex planning, complex resource management, technical issues, and environmental factors. It is essential to identify and analyze the project risks and opportunities all the project life-cycle and develop risk response planning in order to decrease the adverse risk effects on project objectives.
In this seminar, a formalized and systematic risk management process is proposed for complex and strategic projects. This process aims to identify systematically the risks and opportunities, assess the risk impacts in terms of cost, delay, quality, and safety, determine the critical risks and develop action plans in order to mitigate, eliminate or transfer the negative risk impacts. The process proposes a dynamic risk management approach in parallel with the project management through all the project life-cycle and adapted to the evolving nature of the project. The risk assessment results are integrated systematically into the project simulation. An objective and reliable risk identification and assessment method is provided with multi-dimensional project analysis, associated with the project planning, organizational structure, resources, and environmental factors. The model is designed and developed based on the several case studies of complex projects, and in partnership with project managers to support its use in real operation conditions and to ensure its efficiency. A user-friendly prototype interface has been developed to apply the process for real projects.
What You Will Learn
Upon completion you will be able to:
- Define the features and the environmental factors of complex and strategic projects.
- Develop a formalized and systematic risk management process throughout the project lifecycle.
- Model a multi-dimensional project analysis for identifying and assessing the risks and opportunities for complex projects, proposing risk response planning.
- Integrate project management, risk management and decision-making process in a systematic approach, adapted to the evolving nature of complex projects.
- Illustrate a user-friendly prototype tool to apply the process in real operation conditions.
PDU Allocation Table