Project Management Institute

Formalized and Systematic Risk Management Process for Complex Projects with Esra Tepeli

Description

Topics: Business Analysis | Risk Management | Risk Mitigation | Complexity | Project Management

Project risks can give negative impacts on project objectives, such as delay, cost overruns, decrease in quality and security aspects, which can cause serious project failures. Risk management aims to identify possible causes of threats and opportunities, to assess them qualitatively and quantitatively, and to propose action plans for risks deemed critical in order to decrease the undesirable effects on project objectives.

Complex projects are affected by numerous risks and opportunities because of their complex organizational plan with a large number of stakeholders, complex planning with a long life cycle, complex resource management, technical issues, and particular environmental factors. This type of project may also present strategic importance for the project stakeholders. It is essential to identify and analyze the project risks and opportunities throughout the project life cycle and develop risk response planning in order to decrease the adverse risk effects. However, traditional methods are rather limited for managing the risks of complex and strategic projects.

In this seminar, a formalized and systematic risk management process is proposed for complex and strategic projects throughout the project life cycle. 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 the project life cycle, adapted to the evolving nature of the project. The risk assessment results are integrated into the project simulation with cost, time, quality and safety risk impacts. An objective and reliable risk identification and assessment method is provided with a multi-dimensional project analysis, associated with the project planning, organizational structure, resources, and environmental factors. The model is designed and developed based on several case studies of complex projects and in partnership with the project practitioners to favor its use in real operation conditions and to ensure its efficiency by integrating the different perspectives of the project stakeholders for an effective risk management method. A user-friendly prototype interface has been developed to apply the process for real projects. The process is primarily developed for complex construction projects but the model can be adapted to a specific type of complex and strategic project in different sectors. How it works in practice is illustrated through a case study of a public-private-partnership (PPP) project in France.

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What You Will Learn

Upon completion of this course, participants 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 life cycle.
  • 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

The table below displays the number of professional development units (PDUs) awarded for each PMI® credential, as they align to the PMI Talent Triangle®. Leadership and Strategic PDUs apply evenly across all credentials and Technical PDUs apply only to specific credentials. PDUs will be added in full to all eligible credentials.
Technical Leadership Strategic Total
CAPM / PMP / PgMP 21 0 0 21.00
PMI-ACP / Agile* 0 0 0 0.00
PMI-SP 0 0 0 0.00
PMI-RMP 21 0 0 21.00
PfMP 0 0 0 0.00
PMI-PBA 0 0 0 0.00
pmi_talent-triangle_alignments_technical_rgb pmi_talent-triangle_alignments_leadership_rgb pmi_talent-triangle_alignments_strategic_rgb pmi_talent-triangle_alignments_rgb

*Please note that the asterisked row above applies to all PMI Agile certifications, this includes DASM, DASSM, DAVSC and DAC.


Seminar Instructor(s)

Esra

Esra Tepeli PMP

Dr. Esra Tepeli is a civil engineer having a double major in project and risk management. She obtained her PhD in the field of construction project and risk management at the University of Bordeaux and her MBA degree at the IAE Bordeaux, School of Management. During her PhD, she worked on project and risk management for complex and strategic construction projects, especially Public-Private-Partnership (PPP), design- build-maintenance and transportation projects, in cooperation with a major French construction company. She developed and conducted a formalized risk management process in various big construction projects. After her PhD, she started working as an academic member at the University of Technology of Compiègne and then at the University of Versailles in Paris, and she has taught a variety of civil engineering and construction management courses for undergraduate and graduate students. Her research and teaching activities deal with project and risk management, construction management and building information modeling. Besides her academic career, Dr. Tepeli is working as a project and risk management consultant in the private sector. Dr. Tepeli is also an active PMI member, conducting volunteer activities for project management education and outreach projects.

Course Information

PDUs
21
CEUs
2.1
Level
Intermediate
Length
3 Days
Dates
8 - 10 November 2021

Price

Member Price
US$2627.00
(US$2163.00 before 27 September)
Non-Member Price
US$2766.00
(US$2627.00 before 27 September)
Government Pricing
US$2163.00

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