M_o_R Management of Risk Overview Paradigm Consulting Group (PCGI)

Management of Risk (M_o_R®) An Overview of Cabinet Office’s Best Practice Methodology in Programme Management
Paradigm Consulting Group (PCGI)
Best Practice Presentation – Nov 3, 2014
Presenter: James Niessen

Internet: http://pcgi.mb.ca/ Twitter: https://twitter.com/PCGI
LinkedIn: http://www.linkedin.com/company/pcgi-consulting-services
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Agenda
•Management of Risk (M_o_R®): An Overview of Cabinet Office’s Best Practice Methodology
–What is Risk Management
–M_o_R® Principles
–M_o_R® Approach
–M_o_R® Process
–Embedding
•Our Presenter
–James Niessen
•Paradigm Consulting Group (PCGI)
–About Us
–Accredited Consulting Organization (ACO)
–Best Practice Overview
–Cabinet Office Experience
–Organizational Reference
–Training Opportunities
–Contact Us & Questions
•Copyrights and Trademarks

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What is Risk Management?
Definitions:
•Risk
–.....is defined as ‘an uncertain event or set of events that, should it occur, will have an effect on the achievement of objectives. A risk is measured by the combination of the probability of a perceived threat or opportunity occurring and the magnitude of its impact on objectives.
•Risk Management
–.....is the systematic application of principles, an approach and a process to the tasks of identifying and assessing risks, and then planning an implementing risk responses.

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What is Risk Management?
Risk Management Effectiveness
•For risk management to be effective, risks need to be:
–Identified
–Assessed
–Controlled

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Why Use Risk Management?
Why is Risk Management Important?
•Effective risk management is likely to improve performance against objectives by contributing to:
–Fewer sudden shocks and unwelcome surprises
–More effective use of resources
–Reduced waste
–Reduced fraud
–Reduction in management time spend fire fighting
–Lower cost of capital
–Improved innovation

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When and Where?
Where and when should Risk Management be applied?

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Management of Risk
• M_o_R®
–Principles
–Approach
–Process

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M_o_R ® Principals
•M_o_R® Principles
–Aligns with objectives
–Fits the context
–Engages stakeholders
–Provides clear guidance
–Informs decision-makers
–Facilitates continual improvement
–Creates a supportive culture
–Achieves measurable value

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M_o_R ® Approach
•M_o_R® Approach
–Central to the approach is the creation of a set of documentation comprising:
•Risk management policy
•Risk management process guide
•Risk management strategies for each organization activity
–Also includes another three categories of documentation:
•Records
–Risk Register
–Issue Register
•Plans
–Risk improvement plan
–Risk communications plan
–Risk response plan
•Reports
–Risk progress report

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M_o_R ® Process
•M_o_R® Process
–Identify
–Assess
–Plan
–Implement

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Embedding Risk Management
•Embedding Risk Management
–Starts with the principles
–Changing the culture for risk Management
–Measuring the Value
–Overcoming the common Barriers to Success

Our Presenter
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James Niessen
•James is a Senior Consultant with over 15 years experience in project management and business analysis. His industry experience spans through Water & Waste, Manufacturing, Retail, Banking, Telecommunications, Financial, Insurance, Custom Application Development, and Health. He is dedicated in meeting and exceeding customers expectations. Over the years, James has demonstrated uniqueness in communication, team building and mentorship skills.
•Can be reached at:
–Email: jniessen@pcgi.mb.ca

Paradigm Consulting Group (PCGI) About Us
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•Within the Paradigm Consulting Group (PCGI) offices in Regina and Winnipeg, we employ over 110 staff.
•We offer our customers a wide range of IT and business consulting services.
•Our experience spans customers within several industries, with particular expertise in Healthcare, Insurance, and the Public Sector.
Winnipeg
www.pcgi.mb.ca
Regina
www.paradigm.sk.ca

Paradigm Consulting Group (PCGI) Accredited Consulting Organization
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•We have been awarded the Accredited Consulting Organization (ACO) designation in Project, Programme and Portfolio Management!
–Only the second organization in North America.
•To achieve this designation, ACOs have:
–Undergone rigorous assessments by a large international organization
–Proven their knowledge, experience and communication skills
–Achieved high examination scores and passed multiple product knowledge interviews
–Undergone multiple client references
•Which means….
–ACOs offer superior standards of consulting services
–The robust accreditation process provides assurance that their advice is valid and trustworthy!

Paradigm Consulting Group (PCGI)– Accredited Consulting Organization
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•How can this benefit you?
–ACOs have exclusive access to assess organizations using the P3M3 Assessment Tool for:
•Portfolio, Programme & Project Management Maturity Model (P3M3 ®)
•PRINCE2® Maturity Model
–An assessment will benchmark your program, project and risk management processes and will get you on the right course to ensure the full value of the project is achieved AND sustained.
–An assessment is invaluable whether you are:
•in the early planning stages of a new initiative, or
•struggling in the latter stages of an implementation

Paradigm Consulting Group (PCGI) Best Practices
•Paradigm’s Best Practices provide:
–an opportunity for our consultants to share experience and insight.
–strengthening the Paradigm culture and promoting personal and professional growth.
•Best Practices meetings occur weekly and offer an opportunity to connect with team members and clients from other work sites.
•Sharing knowledge and training opportunities within our diverse team helps strengthen Paradigm employees and benefits our clients.
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Paradigm Consulting Group (PCGI) Cabinet Office Experience
•We have consultants with the following Cabinet Office certifications.
–PRINCE2® (Project Management)
–MSP® (Programme Management)
–MOP® (Portfolio Management)
–P3O® (Project, Programme, and Portfolio Offices)
–M_o_R® (Risk Management)
•We value and encourage continuing learning and certifications, we can proudly state that we have most PRINCE2® practitioners than any other organization in Canada!
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Paradigm Consulting Group (PCGI) Organizational Reference
The Paradigm Consulting Group’s depth of consulting expertise in the area of Project, Programme and Portfolio Management Best Practices is the strongest in Canada.
Their Accredited Consulting Organization designation and over 90 certifications among their consulting staff demonstrates this expertise.
With their depth of experience in PRINCE2, Managing Successful Programs and Management of Portfolios with numerous clients in Western Canada, Paradigm is a proven and respected leader in this rapidly expanding field.
David Smyth
Marketing Manager, Canada
APMG International
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Paradigm Consulting Group (PCGI) Cabinet Office Training Opportunities
•Paradigm partners with an accredited training organization (Advantage Learning) to offer accredited training in PRINCE2®, MSP®, P3O®, M_o_R® and MOP®, as well as Agile Project Management.
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•Our trainers have years of real life project and programme management experience.
•We offer a small class format to verify participants understanding of the content and progress prior to the course exams.
•All courses are independent of each other and there are no prerequisites for any class.

Paradigm Consulting Group (PCGI) Cabinet Office Training
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Contact us at headoffice@paradigm.sk.ca for training dates and course information or to register for any of our courses:
–PRINCE2®
–MSP®
–P3O®
–M_o_R®
–MOP®
–Agile Project Management

Paradigm Consulting Group (PCGI) Contact Us
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To learn more about us:
•Winnipeg:
–Internet: http://pcgi.mb.ca/
–LinkedIn: http://www.linkedin.com/company/pcgi-consulting- services
–Twitter: https://twitter.com/PCGI
•Regina:
–Internet: http://paradigm.sk.ca/
–LinkedIn: http://www.linkedin.com/company/paradigm- consulting-group

Paradigm Consulting Group (PCGI) Questions?
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If you have any questions about how PCGI can assist your organization, please contact:
Ken Howell, Registered ACO Consultant, PRINCE2MOPP3O Practitioner certified, PMP
Executive Partner
Paradigm Consulting Group (PCGI)
khowell@paradigm.sk.ca or khowell@pcgi.mb.ca
204-999-8555

Copyrights and Trademarks
All diagrams produced by Cabinet Office and Office of Government Commerce.
PRINCE2®, M_o_R®, MSP®, P3O®, MSP®, MoV® and MoP® are registered trademarks of AXELOS Limited.
All AXELOS Limited product training courses are offered by Advantage Learning UK, an ATO of AXELOS Limited.
Copyright © 2014 All rights reserved.
Reproduction or reuse of this material is strictly prohibited without prior written approval and consent of the Paradigm Consulting Group (PCGI).
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M_o_R Management of Risk Overview Paradigm Consulting Group (PCGI)

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