For your project to be successful you need to think and account for Risk (Opportunities and Threats) beforehand, so you are ready when they happen and you do not panic.
Plan Risk Responses : PMP : Project Risk ManagementSaket Bansal
This presentation is about Planning risk responses. This presentation talks about response strategies for positive and negative risks. We also conducted web session using this presentations and recording of web session can be found here https://www.youtube.com/watch?v=b5UTxqw1Uaw
For your project to be successful you need to think and account for Risk (Opportunities and Threats) beforehand, so you are ready when they happen and you do not panic.
Plan Risk Responses : PMP : Project Risk ManagementSaket Bansal
This presentation is about Planning risk responses. This presentation talks about response strategies for positive and negative risks. We also conducted web session using this presentations and recording of web session can be found here https://www.youtube.com/watch?v=b5UTxqw1Uaw
Episode 25 : Project Risk Management
Understand what risk is and the importance of good project risk management.
Discuss the elements involved in risk management planning and the contents of a risk management plan.
List common sources of risks in engineering and information technology projects.
Describe the risk identification process, tools, and techniques to help identify project risks, and the main output of risk identification, a risk register.
SAJJAD KHUDHUR ABBAS
Chemical Engineering , Al-Muthanna University, Iraq
Oil & Gas Safety and Health Professional – OSHACADEMY
Trainer of Trainers (TOT) - Canadian Center of Human
Development
The concepts and processes on how to perform project risk management according to PMBOK Guide 6th edition. You'll find key concepts and terms, plan risk management, identify risks, perform qualitative & quantitative risks analysis, plan risk responses, implement risk responses, and monitor risks.
Summary:
Risk
Risk management
Risk Management process groups
Plan Risk Management
Identify Risks
Perform Qualitative Risk Analysis
Perform Quantitative Risk Analysis
Plan Responses
Control Risks
The presentation about Project Risk Management conducted by Mr. Mohamad Boukhari for the project management community in Lebanon during PMI Lebanon Chapter monthly lecture.
Episode 25 : Project Risk Management
Understand what risk is and the importance of good project risk management.
Discuss the elements involved in risk management planning and the contents of a risk management plan.
List common sources of risks in engineering and information technology projects.
Describe the risk identification process, tools, and techniques to help identify project risks, and the main output of risk identification, a risk register.
SAJJAD KHUDHUR ABBAS
Chemical Engineering , Al-Muthanna University, Iraq
Oil & Gas Safety and Health Professional – OSHACADEMY
Trainer of Trainers (TOT) - Canadian Center of Human
Development
The concepts and processes on how to perform project risk management according to PMBOK Guide 6th edition. You'll find key concepts and terms, plan risk management, identify risks, perform qualitative & quantitative risks analysis, plan risk responses, implement risk responses, and monitor risks.
Summary:
Risk
Risk management
Risk Management process groups
Plan Risk Management
Identify Risks
Perform Qualitative Risk Analysis
Perform Quantitative Risk Analysis
Plan Responses
Control Risks
The presentation about Project Risk Management conducted by Mr. Mohamad Boukhari for the project management community in Lebanon during PMI Lebanon Chapter monthly lecture.
As per PMBOK - "The whole point of undertaking a project is to achieve or establish something new, to venture, to take chances, to risk. Risk may have positive effects or negative effects on the project “Schedule” and/or “Cost”. Positive risks are Opportunities and negative risks are losses or threats; remember both risks are uncertain “percentage of occurrence less than 80%”. Risk Management purpose is to manage (Plan and implement) these uncertainties.
With uncertainty comes opportunity. But if a project manager is consumed with managing the risks, there is little time to manage the opportunities. Good risk management is not about fear of failure; it is about removing barriers to success. This is when opportunity management emerges.
· How should the risks be prioritized· Who should do the priori.docxalinainglis
· How should the risks be prioritized?
· Who should do the prioritization of the project risks?
· How should project risks be monitored and controlled?
· Who should develop risk responses and contingency plans?
· Who should own these responses and plans?
Introduction
This week, we will explore risk management. Risk management is one of those areas in project management that separates good project managers from great project managers. A good project manager makes risk management an integral part of every phase of project work. Risks are identified, prioritized, and understood. There are clear responsibilities within the team as to whose is responsible for implementing a risk response to reduce the impact should it occur. So let's get started.
What is Risk?
*Risk: An uncertain event or condition that, if it occurs, has a positive or negative effect on one or more project objectives.
Risks can be positive, meaning beneficial to the project, or they can be negative, meaning detrimental to the project.
Many students have a difficult time visualizing positive risks. A positive risk is an opportunity that may increase the probability of success, the return on investment, or the benefits of the project. They may also be ways to reduce project costs or ways to complete the project early. There may even be methods to improve project quality or overall performance. These are all examples of positive risks.
A negative risk can be easier to understand. It is the possibility that something will go wrong, a threat to the success of the project. It is important to remember that a risk is a possibility, not a fact. It is a potential problem. At GettaByte Software, there is the potential that a power outage would occur during data transfer. The potential exists that a key resource could become unavailable due to some unforeseen circumstance, like illness. Those are threats to the success of the project.
When buying a house to renovate, there are potential risks with respect to plumbing, wiring, the foundation, and so on.
A project manager needs to consider trying to make positive risks happen while trying to prevent negative ones from occurring. To do this, a project manager can take a proactive approach to risk management. This means he or she plans a risk response should it look as though the risk will become a reality. In this way, everyone knows exactly how to prepare and respond to the risk once it does become an issue.
The Risk Management Process
A project has both good and bad risks, which are referred to as positive and negative risks or opportunities and threats. For positive risks or opportunities, the project manager can choose from a range of risk responses. For threats, a project manager has a similar range of choices. The following, as described in the PMBOK® Guide, are the risk management processes.
Plan Risk Management:
· Risk Strategy
· Defines the general approach to managing risk on the project
· Methodology
· Defines the specific, tools, .
If a project manager is consumed with managing risk, there is little time to manage opportunities. Good risk management is not about fear of failure, it is about removing barriers to success. This is when opportunity management emerges.
Critical role of_risk_assessment_in_international_projects_enVyacheslav Guzovsky
Risk is usually applied to negative events, things that might go wrong. Hopefully there are things that we can do, systems that we can put into place that will prevent bad things from happening, or at least if bad things happen, will minimize the likelihood of it being a total catastrophe. Some of these things are obvious, some of them are not so obvious and might sound like common sense, but there is a lot of science to back this up. This science is called risk management. It is a whole profession and may take you a few years to get there. The good news is it is a gradual process, and all we need to know is that it can be a handy tool for our trade and achievable by changing our working habits.
This is PMBOK Guide Monitor and Control Process Group - Part Two. It includes six Knowledge Area - Project Time Management, Project Cost Management, Project Communications Management, Project Procurement Management, Project Stakeholder Management, and Project Risk Management - with six processes - Control Schedule, Control Costs, Control Communications, Control Control Procurements, Control Stakeholder Engagement and Control Risks -.
This is PMBOK Guide Monitor and Control Process Group - Part One. It includes three Knowledge Area - Project Integration Management, Project Scope Management, and Project Quality Management - with five processes - Monitor & Control Project Work, Perform Integrated Change Control, Validate Scope, Control Scope, Control Quality -.
This is PMBOK Guide Executing Process Group. It includes Six Knowledge Area - Project Integration Management, Project Quality Management, Project Human Resource Management, Project Communications Management, Project Procurement Management and Project Stakeholder Management - with eight processes - Direct and Manage Project work, Perform Quality Assurance, Manage Communications, Acquire Project Team, Develop Project Team, Manage Project Team, Manage Stakeholder Engagement and Conduct Procurements -.
Pmbok 5th planning process group part four _ Project Risk ManagementHossam Maghrabi
This is PMBOK Guide Planning Process Group Part Four. It includes one Knowledge Area - Project Risk Management - with five processes - Plan Risk Management, Identify Risks, Perform Qualitative Risk Analysis, Perform Quantitative Risk Analysis, Plan Risk Responses -.
This is PMBOK Guide Planning Process Group Part three. It includes five Knowledge Area - Quality, Human Resource, Communications, Procurement and Stakeholder management - with five processes - Plan Quality Management, Plan Human Resource Management, Plan Communications Management, Plan Procurement Management, Plan Stakeholder Management - .
This is PMBOK Guide Planning Process Group Part two. It includes two Knowledge Area - Time and Cost management - with nine processes - Plan Schedule Management, Define Activities, Sequence Activities, Estimate Activity Resources, Estimate Activity Duration, Estimate Activity Duration, Plan Cost Management, Estimate Costs and Determine Budget - .
This is PMBOK Guide Planning Process Group Part one. It includes two Knowledge Area - Integration and Scope management - with five processes - Develop Project Management Plan, Plan Scope Management, Collect Requirements, Define Scope, and Create WBS -.
According to Project Management Institute (PMI), the Initiating Process Group is the first step to complete the five PMBOK's Project Management Process Groups. The Initiating Process Group consists of (Developing a Project Charter & Identify Stakeholders) those processes performed to define a new project or a new phase of an existing project by obtaining authorization to start the project or phase.
Senior Project and Engineering Leader Jim Smith.pdfJim Smith
I am a Project and Engineering Leader with extensive experience as a Business Operations Leader, Technical Project Manager, Engineering Manager and Operations Experience for Domestic and International companies such as Electrolux, Carrier, and Deutz. I have developed new products using Stage Gate development/MS Project/JIRA, for the pro-duction of Medical Equipment, Large Commercial Refrigeration Systems, Appliances, HVAC, and Diesel engines.
My experience includes:
Managed customized engineered refrigeration system projects with high voltage power panels from quote to ship, coordinating actions between electrical engineering, mechanical design and application engineering, purchasing, production, test, quality assurance and field installation. Managed projects $25k to $1M per project; 4-8 per month. (Hussmann refrigeration)
Successfully developed the $15-20M yearly corporate capital strategy for manufacturing, with the Executive Team and key stakeholders. Created project scope and specifications, business case, ROI, managed project plans with key personnel for nine consumer product manufacturing and distribution sites; to support the company’s strategic sales plan.
Over 15 years of experience managing and developing cost improvement projects with key Stakeholders, site Manufacturing Engineers, Mechanical Engineers, Maintenance, and facility support personnel to optimize pro-duction operations, safety, EHS, and new product development. (BioLab, Deutz, Caire)
Experience working as a Technical Manager developing new products with chemical engineers and packaging engineers to enhance and reduce the cost of retail products. I have led the activities of multiple engineering groups with diverse backgrounds.
Great experience managing the product development of products which utilize complex electrical controls, high voltage power panels, product testing, and commissioning.
Created project scope, business case, ROI for multiple capital projects to support electrotechnical assembly and CPG goods. Identified project cost, risk, success criteria, and performed equipment qualifications. (Carrier, Electrolux, Biolab, Price, Hussmann)
Created detailed projects plans using MS Project, Gant charts in excel, and updated new product development in Jira for stakeholders and project team members including critical path.
Great knowledge of ISO9001, NFPA, OSHA regulations.
User level knowledge of MRP/SAP, MS Project, Powerpoint, Visio, Mastercontrol, JIRA, Power BI and Tableau.
I appreciate your consideration, and look forward to discussing this role with you, and how I can lead your company’s growth and profitability. I can be contacted via LinkedIn via phone or E Mail.
Jim Smith
678-993-7195
jimsmith30024@gmail.com
A presentation on mastering key management concepts across projects, products, programs, and portfolios. Whether you're an aspiring manager or looking to enhance your skills, this session will provide you with the knowledge and tools to succeed in various management roles. Learn about the distinct lifecycles, methodologies, and essential skillsets needed to thrive in today's dynamic business environment.
The case study discusses the potential of drone delivery and the challenges that need to be addressed before it becomes widespread.
Key takeaways:
Drone delivery is in its early stages: Amazon's trial in the UK demonstrates the potential for faster deliveries, but it's still limited by regulations and technology.
Regulations are a major hurdle: Safety concerns around drone collisions with airplanes and people have led to restrictions on flight height and location.
Other challenges exist: Who will use drone delivery the most? Is it cost-effective compared to traditional delivery trucks?
Discussion questions:
Managerial challenges: Integrating drones requires planning for new infrastructure, training staff, and navigating regulations. There are also marketing and recruitment considerations specific to this technology.
External forces vary by country: Regulations, consumer acceptance, and infrastructure all differ between countries.
Demographics matter: Younger generations might be more receptive to drone delivery, while older populations might have concerns.
Stakeholders for Amazon: Customers, regulators, aviation authorities, and competitors are all stakeholders. Regulators likely hold the greatest influence as they determine the feasibility of drone delivery.
Specific ServPoints should be tailored for restaurants in all food service segments. Your ServPoints should be the centerpiece of brand delivery training (guest service) and align with your brand position and marketing initiatives, especially in high-labor-cost conditions.
408-784-7371
Foodservice Consulting + Design
Public Speaking Tips to Help You Be A Strong Leader.pdfPinta Partners
In the realm of effective leadership, a multitude of skills come into play, but one stands out as both crucial and challenging: public speaking.
Public speaking transcends mere eloquence; it serves as the medium through which leaders articulate their vision, inspire action, and foster engagement. For leaders, refining public speaking skills is essential, elevating their ability to influence, persuade, and lead with resolute conviction. Here are some key tips to consider: https://joellandau.com/the-public-speaking-tips-to-help-you-be-a-stronger-leader/
Employment PracticesRegulation and Multinational CorporationsRoopaTemkar
Employment PracticesRegulation and Multinational Corporations
Strategic decision making within MNCs constrained or determined by the implementation of laws and codes of practice and by pressure from political actors. Managers in MNCs have to make choices that are shaped by gvmt. intervention and the local economy.
Enriching engagement with ethical review processesstrikingabalance
New ethics review processes at the University of Bath. Presented at the 8th World Conference on Research Integrity by Filipa Vance, Head of Research Governance and Compliance at the University of Bath. June 2024, Athens
Org Design is a core skill to be mastered by management for any successful org change.
Org Topologies™ in its essence is a two-dimensional space with 16 distinctive boxes - atomic organizational archetypes. That space helps you to plot your current operating model by positioning individuals, departments, and teams on the map. This will give a profound understanding of the performance of your value-creating organizational ecosystem.
Comparing Stability and Sustainability in Agile SystemsRob Healy
Copy of the presentation given at XP2024 based on a research paper.
In this paper we explain wat overwork is and the physical and mental health risks associated with it.
We then explore how overwork relates to system stability and inventory.
Finally there is a call to action for Team Leads / Scrum Masters / Managers to measure and monitor excess work for individual teams.
Integrity in leadership builds trust by ensuring consistency between words an...Ram V Chary
Integrity in leadership builds trust by ensuring consistency between words and actions, making leaders reliable and credible. It also ensures ethical decision-making, which fosters a positive organizational culture and promotes long-term success. #RamVChary
3. Objectives & Outcome.
Objectives
Provide an overview on Project Risk
Management.
High level explanation of Project Risk
Management Implementation.
Outcome
On completion of this session you will be able
to start your journey for managing a project’s
risks based on PMBOK Guide(5th Edition).
4. More than 60 % of companies have experience
project failure
Why?
5. Risk Definition
What is the risk?
Risk is a possible future event or condition that, if it occurs,
will result in a positive or negative impact to a project’s
objectives. Each Risk has a cause and, if it occurs, a
consequence.
Example,
A Project solution needs to be implemented in all of a company’s
worldwide locations, including those in developing countries. If the
telecommunications lines are not upgraded on time where
necessary, the solution will not be viable in those locations.
Is it a risk that you have to implement the solution in developing
countries?
No, that is the cause. It is a fact or a requirement.
Is it a risk that the solution will not be available in certain countries?
No, that is the potential effect of what might occur in this scenario.
Is it a risk that the necessary telecommunications upgrades are not
performed on time?
Yes, this is where the uncertainty lies.
6. Example,
Team may decide to utilize a new technology on its project because they
think it will result in dramatic effort and cost savings.
There is also a chance the new technology will not work.
However, the team introduces the risk because the potential for gain.
This is an example of intelligent risk taking or positive risk.
Risk Impact
7. Risk management process
• Risk management Planning
The process of deciding how to conduct risk management
activities for a project. ( Methodology, Roles and Responsibilities,
Budgeting, Timing, Scoring , Reporting and Tracking )
• Risk identification
The process of determining which risks may affect the project and
documenting their characteristics. (Stakeholder, The format of the risk
statements)
• Qualitative Risk Analysis
The process of prioritizing risks for further analyses or
action by assessing and combining their Probability
of occurrence and impact.
8. • Quantitative Risk Analysis
The process of numerically analyzing the effect of identified risks on
overall project objective.
• Risk response planning
The process of developing options and actions to enhance
opportunities and reduce threats to project objectives.
• Risk Monitoring and control
The process of implementing risk response plans, tracking identified
risk, monitoring residual risks, identifying new risks, revaluating risk
process effectiveness throughout the project.
Risk management process
9. Risk Management Implementation
• Terms
• Assumption
Something that is believed to be true. Assumptions can be about such things
as the deliverables, estimates, technical environment, experience level of staff,
and end-user responsibilities.
• Risk
A possible future event or condition that, if it occurs, will result in a positive or
negative impact to a project objective. Each Risk has a cause and, if it occurs, a
consequence.
• Issue
Something currently happening that needs resolution to avoid negative
impact to scope, timing, requirements, cost, quality, resources, or progress
according to the plan.
10. Threat
Probability = 100%
ISSUE
There is an action
and entry in the
issue log.
Probability < 100%
RISK (threat)
There is a Risk response plan.
Could be:
• Proactive:
Transfer,
Mitigate,
Accept,
Avoid
• Reactive:
Contingency Plan
Opportuni
ty
Probability < 100%
There is a strategy for
each opportunity.
Could be:
Exploit , Enhance, Share ,
Accept
Low Probability ??
OR Low Impact??
Risk Management Implementation
Watch List
Assumption / Risk
A s s u m p t I o n
Low
Probability??
OR
Low Impact??
11. Risk Management Life Cycle
Identify Risks
Monitor & Control
Risks
Plan Risk Response
Risk Management
Close-out
Develop
Risk Management Plan
Risk
Budgeting
Analyze Risks
Update as
Appropriate
Repeats
Through the
Road Map
Minimum Weekly
Reviews