Are you making these risk management mistakes? Bryan Barrow

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This document outlines Bryan Barrow's presentation on risk management mistakes. It discusses the top 10 mistakes companies make in risk management: not involving teams, ignoring people risks, lack of contingency planning, failing to identify and communicate specific risks, and not having a risk management plan. It emphasizes quantifying risks, creating backup plans, securing funding for risks, and regularly reviewing top risks. The goal is to help projects stay on track by properly planning for and mitigating risks.

Education

Are You Making These Risk
Management Mistakes?
Bryan Barrow
CITP MAPM MBCS MPSA
©2019 Bryan Barrow

BRYAN BARROW: BIO
•  Former Chair of the APM’s
specific interest group (SIG)
on Risk Management
•  Author of ‘The Project
Management Workshop Handbook’,
‘Stakeholder Management’ and
‘Project Definition’
•  Creator of the ‘Index Card
Planning’ technique

TODAY’S AGENDA
•  Why manage risk?
•  10 risk management mistakes
most people make
•  The truth about ‘Black Swans’
•  How to spot bad apples
•  Why you need a realistic Plan A
•  How to create Plan B, your risk
management plan

time
cost
target max
target
max
THIS IS WHERE WE SHOULD BE

time
cost
target max
target
max
THIS IS SEEN AS ACCEPTABLE

time
cost
target max
target
max
WHAT WOULD YOU CALL THIS?

Ame
cost
INSTEAD OF TIME VS. COST
target max
target
max

Ame
risk
LOOK AT TIME VS. RISK
target max
100%

Ame
risk
LOOK AT TIME VERSUS RISK
target max
100%

“The greatest IT risk facing
most companies is more
prosaic than a catastrophe.
It is, simply, overspending.”
Nicholas G. Carr,
Author and Commentator

“ THE AVERAGE
PROJECT
SCHEDULE OVERRUN
IS 70%”
SOURCE: HARVARD BUSINESS REVIEW (Sep 2011), “Why Your IT Project May Be Riskier Than You Think”

“ THE AVERAGE
PROJECT
COST OVERRUN IS
27%”
SOURCE: HARVARD BUSINESS REVIEW (Sep 2011), “Why Your IT Project May Be Riskier Than You Think”

“17%
OF PROJECTS HAD A
COST OVERRUN OF
200%”
SOURCE: HARVARD BUSINESS REVIEW (Sep 2011), “Why Your IT Project May Be Riskier Than You Think”

TOP 10 MISTAKES
•  People Mistakes
•  Process Mistakes
•  Publicity Mistakes

PEOPLE MISTAKES
1.  Not Involving your Team
2.  Ignoring People Risks
3.  Assuming the Worst Can’t
Happen

PROCESS MISTAKES
4.  Not identifying specific
risks
5.  No contingency planning
6.  Mistaking risks for issues
7.  Not looking for new risks

PUBLICITY MISTAKES
8.  Not publicising risks to
stakeholders
9.  Excluding partners from
risk reviews

AND FINALLY . . .
10.  Having no risk
management plans
whatsoever!

IS THIS PROJECT WORTH IT?
Beneﬁts Planned
costs
Costs to
manage risks
ConHngency
costs
Beneﬁts

FOCUS ON TOP 10 RISKS
80% of
problems
issues and
delays
20%
of risks

REVIEW RISKS WEEKLY
10 mins
Step 5
Other
Business
10 mins
Step 1
Review
Actions
20 mins
Step 2
Review
Progress
10 mins
Step 3
Review
top 10
risks
10 mins
Step 4
Review
top 10
issues

Ame
risk
WHAT HAPPENS TO RISK . . .
target max
100%

THIS IS THE RESULT
Beneﬁts Planned
Actual
costs
Costs to
manage risks Beneﬁts

FOR MORE INFORMATION
Books (available on Amazon):
Services:
•  Index Card Planning Training
•  Project Kickoff Workshop Facilitation
visit http://bryanbarrow.com/

HOW TO TO CONNECT WITH ME
Bryan Barrow
CITP MAPM MBCS MPSA
Tel:
+(44) 7954 435456
Email:
bryan@bryanbarrow.com
Web:
bryanbarrow.com
Skype:
bryanbarrow
Twitter:
@bryanbarrow

END CREDITS
LOLO JONES © The Guardian
BLACK SWAN Birdaspoetry via Photopin.com
DOMINOES Unknown
BAD APPLES Rore via Photopin.com
INDEX CARDS © Bryan Barrow
INDEX CARD PLANNING WORKSHOP © Bryan Barrow
CALCULATOR Fidler Jan via Morgueﬁle.com
PLAN B Unknown
LOUD HAILER Unknown
TRAFFIC LIGHTS Unknown
PIGGY BANK Unknown
BRYAN BARROW SPEAKING © European Commission
“Are You Making These Risk Management Mistakes” ©2019 Bryan Barrow

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The Vyrnwy Aqueduct Modernisation Programme webinar, 17 April 2024

Association for Project Management

The Vyrnwy Aqueduct Modernisation Programme webinar Wednesday 17 April 2024 APM North West Network Presented by: Katie Rowlands The link to the write up page and resources of this webinar: https://www.apm.org.uk/news/the-vyrnwy-aqueduct-modernisation-programme-webinar/ Content description: Spotlight on the Vyrnwy Aqueduct Modernisation Programme and the challenges facing a large project within Cheshire. The Vyrnwy Aqueduct Modernisation Programme is one of United Utilities largest projects focused on the modernisation of three 42” aqueducts that carry clean drinking water across the North West. This webinar covered the Vyrnwy project and an insight into the project challenges that face a live project within the Cheshire area.

Team Lead Succeed – Helping you and your team achieve high-performance teamwo...

Association for Project Management

APM event hosted by the London Network on 10 April 2024. Speaker: Nick Fewings, MD of Ngagementworks In March 2022, Nick Fewings, Ngagementworks, MD of Ngagementworks, published Team Lead Succeed, based on his 30+years of both leading operational and project teams, and subsequently facilitating team development around the world. It has become a best seller, with a 96% 5-star review rating, and has been read on 5 of the 7 continents. In this interactive session, Nick will share learning from Team Lead Succeed that can be applied immediately and make a positive difference to your teamwork. Nick will share the importance of knowing both WHO is in your team and also HOW effective your teamwork is. Only 10% of teams achieve high-performance, with 50% being average and 40% dysfunctional. In this session, delivered by award-winning conference speaker Nick Fewings, and author of best-seller Team Lead Succeed, Nick will share his 30+ years of leading teams and facilitating team development. Nick has profiled 1,000 of individuals and worked with 100s of teams. Those attending will benefit from understanding; Why many projects fail to achieve their goals. Not relying on just measuring KPIs. The importance of knowing WHO is in your team, both from a behavioural and technical skills aspect. The 16 areas of high-performance teamwork, and their importance. https://www.apm.org.uk/news/team-lead-succeed-helping-you-and-your-team-achieve-high-performance-teamwork-2/

Staurt Earl - ARCC Programme for APM Awards.pptx

Association for Project Management

Currently Knowledge Transfer Subject Matter Expert (Commercial) in the UKDT PMO on the Peru Reconstruction Plan. Stuart has more than 25 years’ track record of commercial and contract management experience working across both public and private sector projects, as well as more than 20 years’ experience in the development and delivery of professional training. As well as working for Gleeds in the UK and Peru, Stuart has also worked in China for Gleeds and has supported people development in Gleeds’ offices in Egypt and Poland. Stuart has been well placed to support the adoption of the NEC and UK Cost Management best practice in Peru – he was Chair of the RICS New Rules of Measurement (NRM) initiative and was heavily involved in the creation of the RICS Black Book Guidance (best practice in cost management).

If AI changes everything – do feelings still matter?

Association for Project Management

APM event hosted by the Midlands Network on 11 April 2024. Speaker: Carole Osterweil Data is power. AI changes everything. If the claims about both are true, how can we ensure we use data and AI well? And what does it mean for the very things which make us human - our feelings? In this workshop Carole will draw on material from her ground-breaking book, Neuroscience for Project Success: why people behave as they do to answer both questions. “We like to think our decision making is completely rational. However, once there's an element of uncertainty, conscious assessments are only part of the story. Two other inputs, both subconscious and driven by our innate need to survive, have a big impact. One, automatic reactions driven by cognitive biases, gets plenty of airtime. The other input, our raw visceral emotions might be scary to talk about and less understood - but that’s not a reason to pretend they don’t exist!” This interactive workshop will draw on material from Carole’s book, Neuroscience for Project Success: why people behave as they do, published by APM in 2022. You’ll come away with: a clear understanding of how the human brain works. a framework that: explains ‘why people behave as they do’. makes it easier to talk about feelings in a matter-of-fact way (so that they become part of your conscious data set) new insights into yourself and your projects in a world that’s often characterised by stress and disorder. Act on these insights and you’ll see the impact - on your teams and stakeholders, your decisions about how to use data and AI, and ultimately your project outcomes.

AI in the project profession: examples of current use and roadmaps to adoptio...

Association for Project Management

AI in the project profession: examples of current use and roadmaps to adoption webinar Wednesday 27 March 2024 Association for Project Management Speaker panel: Andy Murray, James White, James Garner, Karina Singh and Alex Robertson The link to the write up page and resources of this webinar: https://www.apm.org.uk/news/ai-in-the-project-profession-examples-of-current-use-and-roadmaps-to-adoption-webinar/ Content description: Disruptive technology and accelerating change is the now the norm within business. Advancements that feel relatively recent are already becoming embedded into business-as-usual activity. AI is one such advancement; it is already being used and having real-world impacts across the project profession. To help P3M professionals understand the implications of this change, APM invited representatives from organisations that have introduced or are preparing to introduce AI into their project workstreams, to explain their approach and share their insight with fellow professionals. This webinar on explored how AI is currently being used in project and programme management, and how organisations are gearing up for its adoption.

Katharine Fox, WRAP - Valuing sustainability

Association for Project Management

Katharine works for WRAP which is a climate action NGO working in more than 40 countries around the globe to tackle the causes of the climate crisis and give the planet a sustainable future. In this session, you will learn about WRAP’s plastics programme and how sustainability has been incorporated as a core value in delivery of the programme, with the aim of inspiring the audience to take action in their own work.

The silent project disruptor: Building AI solutions

Association for Project Management

Kai-Fu Lee predicted that AI would change the world more than anything in the history of humanity – even electricity. It would disrupt how we live and work, how we operate our businesses, the core products and services on offer and the way in which we build technology. However, in 2024 the impact of AI can no longer be discussed in future tense. With Microsoft copilot now publicly available, the change is already upon us. There is no consultation period or ‘unsubscribe’ button. Project management professionals are likely to be asked to manage AI projects - and we are expected to skilfully use AI in our daily work lives. While overwhelming, this is not the first time we’ve had to adapt. Sarah helps her audience sharpen their cutting-edge skills by answering: What do I need to know about AI right now? If I’m asked to work on an AI project, what techniques do I need to be successful? Where do I start my own learning journey to upskill and prepare? Sarah’s expertise in advanced agile and experience in highly regulated Finance environments give her a unique perspective into balancing governance with technical innovation. She uses her own experience building an AI solution in 2023 to share practical, widely applicable concepts in an “AI for project managers” 101 style session.

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