Engineering risk management training,law of attraction manifest specific person,university of toronto life coaching program - PDF Books

19.03.2014, admin  
Category: Manifesting Meditations

Project and Enterprise Risk Management at the California Department of TransportationPedro Maria-Sanchez1[1] California Department of Transportation, District 11 San Diego, USA1.
Risk management has been part of the project management menu; nevertheless its application was limited only to developing a risk register and a qualitative analysis at the most.
Unfortunately, the latest version of the manual which is from 2007, did not included a detail explanation of the benefits for performing quantitative risk analysis while determining the risks impacts into the project objectives, in terms of cost and time.
The term quantitative risk analysis is merely described, lacking a sound description of the tools and methodologies that have been in place and use in the industry for many years and even with other government agencies around the world. The California Department of Transportation (Caltrans), developed a Project Risk Management Handbook which is being used as a reference for planning the steps for applying risk management into specific projects. The roles of the Project Manager (PM) and the Risk Manager (RM) are critical for developing a realistic implementation plan (Figure 1). The RM is a neutral element of the project team and can reduce the bias, which can seriously affect the outcome of the risk management study.4. The RM as a risk expert should be able to lead, coordinate, educate, explain, convince, propose, monitor and evaluate the entire process; plus he or she needs to be able to have experience in leading teams from different backgrounds and coming from different functional units and agencies. The reality is that we not always can find individuals that have all the virtues mentioned before, therefore; we need to select the most critical characteristics that a risk manager should have.
However, the risk manager needs to deal with risk assessment that in the quantitative arena requires analytical modelling skills that the project manager is usually not trained for. This function assumes that there are three different values assigned to a variable of risk; a minimum, a most likely and a maximum. In addition, the team members should feel free to talk about risk and in some cases having more than one member coming from the same division of functional unit, can cause some limitations for discussion and brainstorming. Risk identification, analysis and responseThe whole process of risk management was implemented for three different projects. The main goal of the risk analysis for each project was to determine the cost risk contingency associated to each project risk register. Figure 10 shows the critical risks obtained for each project once the qualitative analysis was performed. For the qualitative risk analysis in particular, it was useful to provide tangle examples to the team before and during the meeting.As can be observed, the critical risks are only a few ones in compare with all the risks identified at the initiation phase. It was a common practice at Caltrans to assign a merely flat rate for risk contingency, without referring to specific project risks or by justifying the percentage upon a formal risk management study.For each project, a set of risk responses were developed by the RMT and placed with the Risk Register.
In other words, if the risk has a source in construction, then the best suitable risk owner should come from that division.The whole risk management implementation, including the risk identification, analysis and response was conducted in three meetings with the RMT. In some cases, critical project issues were discovered thanks to the risk discussions.The risk management meetings were properly planned, one for the identification, analysis and results.
No meeting took more than two hours and instead of meeting minutes, the Risk Register was used as the deliverable for discussion and follow up.10. If the benefits of risk management are tangible and can be promoted with management and executives, the chances for formalizing the risk management process are very high. Then, after the risks responses implementation, risks are mitigated and the contingency is reduced (red colour). These reports are developed by the RM and are updated every time there is a change with the Risk Register.Risk monitoring and control must be maintain through the project life cycle until the closeout phase, were the lessons learned can include feedback from risk management. Risk management systemA risk management system could be considered the ultimate tool for managing risks for a portfolio of projects.
A system can represent a considerable advantage for executives and project managers since can provide risk management status reports for a set of projects for specific data dates. As well, reports can be generated for supporting the decision making process.Although a risk management system is a great tool for supporting the decision making along the project delivery process. It is recommended first to start risk management with education, a pilot project and training.
Program Project Management, Construction, Environmental, Design, Right of Way and Surveys are the most representative functional divisions existing at Caltrans. Taken together, management of these components constitutes a Department-wide Risk Management Strategy. But, at the same time, Caltrans needs to follow its project-related processes and controls to manage that risk.
According to the Minesota Department of Transportation (MnDOT, 2012), ERM is a risk-based approach to managing an enterprise, incorporating concepts of internal control, planning and budgeting. It is important to notice that outside of the common risk sources (corporate, programmatic, project and operations); other variables such the quality of life indicators, market research and performance measures are included.


One of the most important topics handled by the ERM is the determination of the Risk Appetite. It does not mandate a "one size fits all" approach, but rather emphasizes the fact that the management of risk must be tailored to the specific needs and structure of the particular organization. The implementation of project risk management has assisted Caltrans executives and project managers in assessing properly the project contingency cost based upon specific identified risks. The Risk Management and Environmental Health and Safety Office partners with the AU community to protect university assets and reduce financial, operational, technological, and reputational risks. Since 2004, the ICDRM has supported the development of an on-line Emergency Management Academy (EMA) for the Veterans Health Administration (VHA), U.S. Oppose to scientific management as it is most likely to place burnout factors, and some skill sets now that. IntroductionA better understanding of risk management processes and practices within a government agency is crucial for enhancing the project delivery process and for implementing formally risk management. The Office of Statewide Project Management Improvement (OSPM), has developed a Project Risk Management handbook which is a guide for project managers at Caltrans for using risk management.
Cost overruns caused by a lack of using risk management in the practice for infrastructure and transportation projects, has been mentioned in the literature for many years. The purpose of the study, roles and responsibilities, the scope of the Risk Register, risk identification, analysis methods, implementation period, schedule and budget allocation need to be defined with the plan. Nevertheless, additional knowledge is provided to the team members for assessing properly the risks and opportunities during the qualitative and quantitative analysis. Risk manager roleThe relevance that a risk manager plays during the implementation phase is crucial for the success of the study. Vose (2008) enounces the following as the characteristics of the risk analysts: creative thinkers, confident, modest, thick-skinned, communicators, pragmatic, able to conceptualize, curious, good at mathematics, a feel for numbers, finishers, cynical, pedantic, careful, social and neutral.
Definitely a risk manager should be a good communicator, must have an analytical mind and needs to be able to think outside the box. It is a demanding list and indicates; that risk analysis should be performed by people who have a proven track record of doing risk management for several projects ideally.
A key part for soliciting the information for the SMEs, are the questions asked by the Risk Manager or Risk Facilitator. This approach definitely will help the whole process and will assist the RM to maintain the team focused in talking only about risk.8.
Regardless of the project scope, cost, schedule, location, type of funding, etc; the same steps were followed in order to determine the overall risk cost 8cost contingency).
The purpose of the qualitative risk analysis was to select those risks that represent a major negative or positive impact into the project objectives. Risk management meetingsIt was not common at all at Caltrans to have risk management meetings for the PDT members and even for executives. Risk monitoring and controlRisk monitoring and control has been mentioned as one of the most common failures of risk management. For example, in can be assumed that the baseline risk contingency was the one marked in grey colour. Nevertheless, the monitoring and control process continues and a new risk arises, increasing again the project contingency (blue colour).
The PM and RM should put extra care in keeping a constant review of the baseline Risk Register with the purpose of actively managing the project contingency and for assessing the effectiveness of the risk responses.11.
In practical terms, for having a risk management system it is necessary to have developed a sufficient number of risk management studies and to have performed formal training to project managers. In addition, some members for example the project manager, the design manager or the risk manager can have rights for edition.
After several studies, the role of a system can be justified for enhancing the overall process of risk management and its communication.12. Project Delivery staff can assess and take intelligent risks in delivery because taking intelligent risks fosters innovation and responsible decision-making. These variables have a direct impact into the risk sources, which at the end could influence the results and benefits of risk management.
It sets out principles, a framework and a process for the management of risks that are applicable to any type of organization in public or private sector. ConclusionsCaltrans has evolved considerably in the past five years in the field of project risk management. Nevertheless, management is taking currently formal steps in implementing it through all the state of California with the intention of managing and controlling not only project risks.


Management (ICDRM) is celebrating its 18th anniversary as a Research Institute and 14th anniversary as a leading provider of graduate level education programs in the area of crisis, emergency and risk management.
Multiple products have been developed and are available for use by the VHA and other healthcare organizations seeking to improve or expand their emergency management program. This chapter outlines the whole implementation process carried out with the risk management team formed from different functional units and backgrounds. However, only few examples of how risk management can be use in the real life are available, including how can a risk team be formed and how to educate the team for performing a sound and trusted risk management exercise.2. Although there are considerable resources for learning about risk management, Caltrans has adopted this process into its project development process (Figure 2). The California Department of Transportation (Caltrans, 2007) describes the risk manager (Risk Officer) responsibilities as risk management planning, identification, qualitative and quantitative analysis, risk response and risk monitoring and control.
In some cases, the SMEs are reluctant to participate and optional methods should be place on the table by the risk manager for getting the opinion needed from the SME. A model was built for running the Monte Carlo Simulation technique for obtaining the risk cost contingency for each project.
In part because the follow up process is usually forgotten by the project and risk manager and as results, there is no comparison between the baseline and actual Risk Registers or risk results. Figure 11.Risk contingency behaviourCaltrans has implemented risk monitoring through the project development team meetings, where the project manager and the risk manager address any changes within the current risks or document new risks.
By having a set of projects in which risk management was previously implemented, the system can be fulfilled with data, including lessons learned.
Caltrans enterprise risk managementAlthough the term of enterprise risk management (ERM) is not new, Caltrans started looking into its current process for doing business. Risk management has to be implemented for projects or within projects, but this is only the first step. The most common project risk management techniques used in the private sector are currently part of Caltrans project delivery process.
Located within the Department of Engineering Management and Systems Engineering, the Institute conducts evening classes at the main GWU Foggy Bottom Campus. In addition, a discussion is held over the critical steps and aspects for performing project and enterprise risk management in the real world.Risk management is not new for the transportation industry in the United States, specifically in highway projects.
Risk management planningAs any other process in project management, risk management has to be planned in order to forecast the total effort required by the project team for developing the full scope of risk management. In this case, a worst and best case scenarios are asked from the SMEs for defining a minimum and a maximum value of the risk. The downside of conducting these interviews is that they are rather time consuming.In some cases, we can get different SMEs opinions for the same variable or risk as mentioned by Vose (2008). Risk metrics are fundamental for determining and assessing how risk management is contributing or enhancing the project delivery process. In this case, the risk manager is in charge of contacting the risk owners for updates and feedback regarding their risks.Risk status reports have been developed with the purpose of maintaining informed the executive though a proper risk management communication. The California Department of Transportation (Caltrans), a leading authority in public transportation projects in the US, has used basic project management principles along its statewide Districts offices. Figure 4 illustrates an example of combining three differing opinions, but where expert A is given twice the emphasis of the owing to the greater experience of that expert (Vose, 2008).It is relevant to notice that not all the SMEs are willing to participate actively in a risk management exercise at the first time, especially if they have no been exposed before into one. If SMEs are not part of the risk management study, the results will not be trusted, causing this a failure of the process, the PM and the team.7. Risk management team elicitationThe selection of members for the Risk Management Team (RMT), is not an easy task at all.
The analysis, brainstorming, experience, background of the RMT members is critical not only for the risk management identification; it is for all the process including the monitoring and control.
Eliciting the risk team members can be such a critical milestone for success or failure for the rest of the risk management process and the project itself. At the end, risk management is an input-output process that if wrong data or knowledge is feed into, then the results expected, most likely would be trustless or would included biases which at the end affect seriously the integrity and best practices in risk management.



Life coach nyc yelp
International coaching federation
Learn business management skills
Career coaching training london


Comments to “Engineering risk management training”

  1. EXPLOD:
    This implies that by working with Private aid you apply these tiny identified secret 'gems' if you.
  2. IDMANCI:
    Helping folks at all levels to uncover their.