Newport Insurance-Reinsurance Brokers is an international expert in risk management, reinsurance treaty design and placement, insurance product design, and internal modeling. They have experience providing strategic consulting for risk management and Solvency II preparation and implementation. PillarOne is a risk management project developed by Munich Re, Intuitive Collaboration, Canoo, FS-Consulta, and SAAP to provide actuarial and business services.
1. Project Risk Management (25 Points)You have been tasked to.docxdorishigh
1. Project Risk Management (25 Points)
You have been tasked to manage a facilities construction project for a non-profit organization. Specifically, the organization is undertaking a large project to build a 6000 square foot office and an attached building with 20 hotel style rooms for its beneficiaries (building a shelter). The budget is tight and the organization needs to have these facilities as soon as possible. The project is in the planning stage and you have some requirements documents and funding available. How would you use risk management on this project? Why would you use risk management? What are your most important considerations? What are the steps of your risk management process (use any model you like ie PMP, textbook, DoD etc)? Provide a Risk Breakdown Structure for the project. What risk identification tools would you use on the project? Why?
Assume you are talking to a key stakeholder (donor) about your plan.
1. PROJECT RISK MANAGEENT (40 Points)
Meaning of Risk Management
Risk management is very important part of planning for project, the process of risk management is developed to reduce the risk of certain events happening which are having negative impact on overall project. Risk management is the identification, assessment and prioritization of risk followed by coordinated and economical application of resources to monitor, minimize, and control the probability and impact of negative outcomes.
0. How would you use risk management on this project?
Our proposed project of constructing 6000 square foot office and twenty hotel style rooms is in planning stage; this is a plus point for the management as they can develop detailed risk management activities.
Risk management depends on the understanding of the overall project in other words in order to develop detailed risk management activities the understanding of the project is very important. To use risk management for the project, we will create a detailed risk management plan which is also used to understand the whole project. The contents of risk management plan are as follows:
1. Project Description
· Project objective: to construct 6000 square yard office and 20 rooms building.
· External Dependencies: acquiring construction material, services of architects etc.
· Stakeholder analysis: reaction of local residents, local government regulations, negotiation with donors, requirement of client etc.
1. Risk Management scope and objectives
· Variance threshold: two main constraints in this project is time and funds. Calculated variance should be calculated for these two variables that is how long each activity could be stretched while keeping project feasible. By doing this we can identify the threshold of timing and budget after which project become in viable.
· Prioritization of project objectives: in order to complete the project in time, a schedule of activities required showing activities of project needs priority and others which could be delayed.
1. ...
Presentation made by Robert Venczel at the PMI OVOC 10th Annual Project Management
Symposium (12-14 October 2010, Ottawa, Ontario, Canada)
More info at http://www.pmiovoc.org/files/Events/Symposium.html
"Risk comes from not knowing what you're doing" - Warren BuffetHKA
The headline report of the value of construction contracts by the Building and Construction Authority (BCA) published 15 January 2016 was quickly appropriated the following day to the “Business” section of Singapore’s national newspaper, The
Straits Times, with an even more tantalising headline “Strong Supply of Public Building Jobs.”
The headlines appear good news for the construction industry for the celebration of Chinese New Year which sees The Monkey take centre stage, the ninth animal of the twelve
terrestrial branches and who is generally regarded as an intelligent problem solver, fitting nicely into teams whilst demonstrating independence and a strong mind to
succeed.
Notwithstanding the fanfare, the Chinese calendar forecasts that The Monkey will have to find its own way in difficult situations and overcome obstacles this New Year. By staying
calm and confident difficulties will be overcome and opportunities will present itself!
This was a presentation given by Lisa Shi, head of risk management at E C Harris Hong Kong, at the Royal Hong Kong Yacht club as one of the APM HK branch's monthly CPD events. Lisa gave her presentation to some 30 local members and guests.
Analysis of current project risk management procedure by Spanish Business Unit of an automotive multinational company, which manufactures steering wheels and airbag modules.
Taking into account the PMI standards, different changes are established in the current procedure for the purpose of defining and implementing a project risk management procedure more useful and efficient.
1. Project Risk Management (25 Points)You have been tasked to.docxdorishigh
1. Project Risk Management (25 Points)
You have been tasked to manage a facilities construction project for a non-profit organization. Specifically, the organization is undertaking a large project to build a 6000 square foot office and an attached building with 20 hotel style rooms for its beneficiaries (building a shelter). The budget is tight and the organization needs to have these facilities as soon as possible. The project is in the planning stage and you have some requirements documents and funding available. How would you use risk management on this project? Why would you use risk management? What are your most important considerations? What are the steps of your risk management process (use any model you like ie PMP, textbook, DoD etc)? Provide a Risk Breakdown Structure for the project. What risk identification tools would you use on the project? Why?
Assume you are talking to a key stakeholder (donor) about your plan.
1. PROJECT RISK MANAGEENT (40 Points)
Meaning of Risk Management
Risk management is very important part of planning for project, the process of risk management is developed to reduce the risk of certain events happening which are having negative impact on overall project. Risk management is the identification, assessment and prioritization of risk followed by coordinated and economical application of resources to monitor, minimize, and control the probability and impact of negative outcomes.
0. How would you use risk management on this project?
Our proposed project of constructing 6000 square foot office and twenty hotel style rooms is in planning stage; this is a plus point for the management as they can develop detailed risk management activities.
Risk management depends on the understanding of the overall project in other words in order to develop detailed risk management activities the understanding of the project is very important. To use risk management for the project, we will create a detailed risk management plan which is also used to understand the whole project. The contents of risk management plan are as follows:
1. Project Description
· Project objective: to construct 6000 square yard office and 20 rooms building.
· External Dependencies: acquiring construction material, services of architects etc.
· Stakeholder analysis: reaction of local residents, local government regulations, negotiation with donors, requirement of client etc.
1. Risk Management scope and objectives
· Variance threshold: two main constraints in this project is time and funds. Calculated variance should be calculated for these two variables that is how long each activity could be stretched while keeping project feasible. By doing this we can identify the threshold of timing and budget after which project become in viable.
· Prioritization of project objectives: in order to complete the project in time, a schedule of activities required showing activities of project needs priority and others which could be delayed.
1. ...
Presentation made by Robert Venczel at the PMI OVOC 10th Annual Project Management
Symposium (12-14 October 2010, Ottawa, Ontario, Canada)
More info at http://www.pmiovoc.org/files/Events/Symposium.html
"Risk comes from not knowing what you're doing" - Warren BuffetHKA
The headline report of the value of construction contracts by the Building and Construction Authority (BCA) published 15 January 2016 was quickly appropriated the following day to the “Business” section of Singapore’s national newspaper, The
Straits Times, with an even more tantalising headline “Strong Supply of Public Building Jobs.”
The headlines appear good news for the construction industry for the celebration of Chinese New Year which sees The Monkey take centre stage, the ninth animal of the twelve
terrestrial branches and who is generally regarded as an intelligent problem solver, fitting nicely into teams whilst demonstrating independence and a strong mind to
succeed.
Notwithstanding the fanfare, the Chinese calendar forecasts that The Monkey will have to find its own way in difficult situations and overcome obstacles this New Year. By staying
calm and confident difficulties will be overcome and opportunities will present itself!
This was a presentation given by Lisa Shi, head of risk management at E C Harris Hong Kong, at the Royal Hong Kong Yacht club as one of the APM HK branch's monthly CPD events. Lisa gave her presentation to some 30 local members and guests.
Analysis of current project risk management procedure by Spanish Business Unit of an automotive multinational company, which manufactures steering wheels and airbag modules.
Taking into account the PMI standards, different changes are established in the current procedure for the purpose of defining and implementing a project risk management procedure more useful and efficient.
Javier Garcia - Verdugo Sanchez - Six Sigma Training - W1 Six Sigma Project M...
Newport Risk Management Profile
1. R i s k M a n a g e m e n t P r o f i l eNEWPORTINSURANCE–REINSURANCEBROKERS
I N T E R N A T I O N A L E X P E R T I S E
Key Partners for Solvency II technical assistance
Project experience (excerpt)
• Strategic Consulting for risk management (including
Solvency II preparation & implementation)
• Reinsurance treaty design & placement (property &
casualty) using risk modeling solutions
• Reinsurance specialty – product design & placement
• Insurance product design (property & casualty)
• Internal modeling
• Risk management solutions
Insurance Sector: Product Design & Management, Reinsurance,
Risk Management
Project Management: Financial Management, Risk
Management, Solvency II preparation & implementation
Risk Management
Promoter of PillarOne
- a project developed by -
Munich Re
Intuitive Collaboration
Canoo
FS-Consulta
SAAP
Key Areas of Expertise
INTUITIVE COLLABORATION
actuarial and business services
Please visit PillarOne at www.pillarone.org