project_risk_management.ppt
DESCRIPTION
Project Risk ManagementTRANSCRIPT
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Cătălin IACOVICIAn I AES
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ObjectiveThe objective of Project Risk
Management is to provide methods and software to analyze, capitalize and estimate risks to improve the competitive value during the bidding phase of projects
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Innovative featuresEarly life – cycle decisionsTo take risk as the most powerful driver
integrating all other preoccupationsKnowledge sharingProject risk management builds a corporate
memory as a fundamental reference to provide internal and external information for bid process
Standardisation
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Project statusRisk management is ambitious, innovative,
interestingCollect users needs and building different
types and cultures of biding process integrated in one bidding model
External risk it is faced in a similar way as internal risk
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Prototypes development
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Project risk management ouvertureThe bid process is representative for any
project process where a decision is central: why not extend the risk management to the whole project?
Project risk management means to cover the needs of bid engineers to top management
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MethodThe risk management focuses on the bid
processThe method allows the building of technical
solutionsTo choose between several technical
solutions, the method supports cost estimation and risk evaluation
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DefinitionsRisk: Opportunity vs. Hazard, Internal vs.
External riskRisk description process: Cause, known by its
probability; Risk, known by risk exposure
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DefinitionsOpportunity is the cumulative effect of the
chances of uncertain occurences, which will affect project objectives positively. Opportunities are considered in risk management as positive risks
Hazard: A condition associated with the design, operation or environment of a system that has the potential for harmful consequences
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Risk evaluation methodIdentificationAssessmentRanking prioritisationMitigation actionsiteration
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Process
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Technical memoryThe repository of the overall company
expertise/knowledge contains all technical and organizational information that is required for bidding.
The aim is to improve the ability of companies to prepare reengineering of their entities and processes as soon as or even before a bid is successful.
This goal is achieved by : a database of recurring entities and processes or of entities that can be reused, if necessary with adjustments, by bid managers.
The repository can be used by all actors involved in the bid processes.
The impact of a co-operative repository is to facilitate and improve the capitalization and exchange of knowledge.
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Decision support system
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ConclusionsFor Company Continuous Improvement
during the project and on the short term :during bid process
Inserts risk management in the RFP phase:Supports a risks management plan early at the
beginning of the contractConducts a documentation on the risks
associated with the projectsOrganizes the risks experience/knowledge
return from the bid phase start
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supports decisions : Bid / No bid & Make or Buy
Support to bid construction (rapid evaluation from experience return)
Technical solution choice support : evaluation and comparison through risk assessment in parallel of external elements
better experience feedback from previous bidsgood decision probability improvementCo-operative work during bid processhigh level of visibility and integration for top
management (Company position)
Conclusions