If comparing a project to a building structure, a comprehensive and well written Contract would equate to strong pillars. Where this is absent, thus missing a solid foundation, then this is called “Risk Management”.
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The Risk Management Plan has been developed. All major risks have been identified and include an associated risk response plan. Adequate costs for contingencies were allocated into the budget. There is also a Risk Register in place with risk owners actively monitoring how risks will be progressing moving forward. Great job? But you are not quite done yet.
As you progress towards project execution you will learn that more risks will emerge. Sometimes these risks have a negative impact on project objectives. Moreover, the team does not have enough time to deal with them. Even worse, there is no resource allocated for contingency measures against them. There is also the problem that most risk owners are the same people executing the job. The real dilemma here is that the team have missed these risks, or the contingency measure is inadequate. The opportunity to address risks during detailed design was most likely not fully capitalized. Due to improper planning and project execution, the team creates even more risks.
Using real project scenarios and everyday examples, attendees will have a better appreciation on how to establish an “execution driven” risk management approach. Attendees will also learn how the conventional Risk Management Processes maps through a “backward pass” progressive method. Where more risks will be filtered out and the project team will not contribute to creating more risks. Else, a more effective contingency measure can be established, and mitigation measures can be implemented more effectively.
Gholan Medalla has over 20 years of hands on Project Management and Project Controls experience. This is with various overseas assignments such as Saudi Arabia, Canada, Iraq, UAE, Hong Kong, Singapore, Japan and the Philippines.
He specializes in planning & project controls (claims and forensic analysis background), and with substantial experience in design, project execution, estimating, cost, contracting and risk management. He has also implemented, maintained and lead developments of robust Project Controls Systems, tools, KPIs, and processes.
18:00 – 18:30 Skype call will be open for audio testing
18:30 – 19:30 Speaker presentation
19:30 – 20:00 Q&A