Online Webinar – Recorded September 19th 2013
Activity Type: Education – Online or Digital Media 1 PDU Free
By: ProjectManagement.com / Gantthead (REP #2488)
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Identifying the root causes of project schedule and cost risk requires that the risk to the project schedule is clearly and directly driven by identified and quantified risks.

In the Risk Driver Method the risks from the Risk Register drive the simulation.

As a side note, Risk Registers are not complete – during the interviews to collect risk data the interviewees introduce important risks that are, surprisingly, missing from the Risk Register.

The Risk Driver Method differs from older, more traditional approaches in which 3-point (low, most likely and high) estimates of the activity durations are applied directly to activity durations.

The traditional 3-point estimate represents, often, the influence of several risks that impact the activity if they happen.

• Therefore the importance of each risk cannot be individually distinguished and kept track of.
• Also, since some risks will affect several activities, we cannot capture the entire influence of a risk using traditional 3-point estimates of impact applied to specific activities.

• The Risk Driver method allows us to specify the risks by their probability of influencing the schedule as well as the uncertainty of their impact if they do occur, and to assign the risks to all detailed tasks they influence.

3-point estimates have no clear way to represent the probability of a risks’ occurring so they miss one of the two important characteristics of the risks.

Correlation between activity durations is important in determining the possible date of completion if the organization wants a fairly conservative estimate, say at the 80th percentile (P-80).

With traditional 3-point estimates the correlation coefficients have to be estimated (guessed at) and applied between pairs of activities.

Using the Risk Drivers method correlation between activities’ durations is created during simulation based on a common risk (or common risks) affecting the activities. We no longer need to estimate the correlation coefficients with the possibility that the coefficients determine an inconsistent correlation matrix.

The basic benefit of the Risk Driver approach comes from the ability to identify, and hence prioritize the importance of risks (as distinguished from the importance of activities or paths in the traditional 3-point estimate approach). Hence Risk Drivers facilitates risk mitigation.

We do not mitigate activities or paths
We mitigate risks.

In order to determine which risks to mitigate we need to be transparent about which risks drive the results, hence the Risk Driver Method.

Note: You have to sign in to ProjectManagement.com with your PMI® credentials to register for this opportunity. If you are not signed in with your PMI® credentials you will not see the “Register for this webinar” link

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Risk Driver Method In A
Monte Carlo Simulation Of A Schedule

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Live Webinar November 15th, 2016 – 12:00 pm – 1:00 pm  EST
Activity Type: Education – Course or Training  1 Hour  1 PDU
Provider:ProjectManagement.com / Gantthead (REP #2488)
Once viewed your PDU Will automatically Be recorded with PMI®

ProjectManagement.com / Gantthead premium content
Is available to PMI® members.

Risk Management is believed to be an important part of the program management process, so much so that there are hundreds of consultants and software products focused solely on this.

There are many ways that the risk management process activity is measured, but none that measure whether the process actually provides value to the project.

In this webinar Charles Weis (LinkedIn profile) will follow on to the first one, which tackled how to measure identification of risk.  This second webinar will take on how to measure the management of risk.

Note: You have to sign in to ProjectManagement.com with your PMI® credentials to register for this opportunity. If you are not signed in with your PMI® credentials you will not see the “Register for this webinar” link

Registration for this session is close to being full. If the registration is closed they are at maximum capacity for the live webinar.

An on-demand recording will be available at the link below
within 72 hours of the live session.

Click to register for:
Risk Management Process Measurement

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Live Webinar – November 15th 2016 7:30 am – 8:30 am EST
Live Webinar – November 15th 2016 12:30 PM – 1:30 PM BT
Activity Type: Education – Course or Training  1 Hour  1 PDU
Provider: Association for Project Management – APM

More information on Crossrail’s Commercial assurance can be found on the Crossrail Learning Legacy website.

Primary objectives of the Crossrail Commercial Assurance function are:

1. Be pro-active; aiding delivery teams (including the Tier 1 supply chain) in establishing appropriate commercial controls and best practice performance levels
2. Support capability enhancement; providing access to Crossrail’s functional leaders / their dedicated teams
3. Drive continuous improvement; through bringing outside learning into the Programme and acting as a platform to share learning and best practice
4. Be efficient to operate; directing resource to aid improvement and to avoid man-marking
5. Provide demonstrable evidence to stakeholders; through capturing quantitative evidence of best practice commercial performance

This webinar explains how the scope of Commercial Assurance spans across the Crossrail Programme, with a particular focus on contracts where Crossrail had directly engaged main contractors.

The seventh webinar in the series discusses how Commercial Assurance reviews are focused on assessing, supporting and ultimately assuring that the delivery teams and Tier 1 suppliers working across the Programme are operating to a level of commercial performance that will enable cost and commercial objectives to be met – the principal being the achievement of value for money and predictability.

A programme controls approach was needed to integrate commercial management information to support decision making by the leadership team.

A periodic Programme Controls Working Group meeting, combined with commercial data and trend analysis, facilitated a good understanding of commercial performance across each of the programme controls functional areas.

This effectively highlighted areas of commercial risk, enabled the targeted deployment of functional specialists to undertake further assurance work, and improvement action plans to be developed.

This webinar outlines how commercial indicators can be used to better profile commercial risk to inform more effective management action and intervention.

It will be relevant to any project developing and setting up an approach to measuring commercial performance, or developing initiatives to improve commercial performance during the delivery phase.

Click to register for:
Crossrail Commercial Assurance

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Live Webinar November 15th, 2016 11:00 am – 12:30 pm EST
Activity Type: Education – Course or Training  1 Hour  1 PDU
Provider:  Computer Aid Inc IT Metrics & Productivity Institute
(Rep 2733)

In this compelling presentation, Carl Pritchard, author of the Risk Management Memory Jogger and the Project Management Communications Tool Kit, examines the four C’s of effective risk communication:

• Control,
• Cost,
• Community and
• Charisma

Carl examines how and when we lose control of the communications experience and specific steps that we can take to ensure we retain control to the degree possible. He looks at the potential political costs of any risk communications experience and how we can marshal them to our advantage.

Carl explores the capacity to build risk communications communities in very short spans of time, and drives home the simplicity of establishing charisma on the subject of risk without being excessive or effusive.

Join Carl and learn how to craft risk terminology that’s meaningful for you, your management and your team.

Presenter : Carl Pritchard (LinkedIn profile, @carlpritchard) Project Management Risk Guru & Presenter Extraordinaire Carl has written more that 70 articles on The Fundamentals of Project Management – Applying traditional project management in demanding environment. A bio and a large compilation of article experts by Carl Pritchard on Project Management topics is available on: http://www.projectconnections.com.

Click to register for:
Four C’s of Effective Risk Management

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The Live Session Is Free But…

You can get the recorded version of this session & over 500+ other Quality PDU Sessions with an
ITMPI Membership

Search for “2733” to see other great titles available!
Memberships Include all PDU Codes

Note: ITMPI charges a fee to obtain individual PDU codes. This fee ONLY needs to be paid if you ask the provider for the code – This code should be able to be obtained from the PMI.ORG site for free. An ITMPI Membership entitles you to receive all ITMPI PDU Codes and recordings.

Some Of Carl Pritchard’s Great Resources

Below are some specific links to a selection of his articles:

A Time to Be Project Positive!
The Dalai Lama offers Carl some perspective on our potential for profound influence, both as project managers and as people. If ever there was a time to be “project positive,” this is it! There is so much to be positive about.

Context in Communication
Get others up to speed on your insider stories, and both your team and your communication will be the better for it. As we manage, we have a habit of invoking terms and terminology, assuming that others share our communications context.

In Defense of the Project Management “Perfect World”
We know the textbook doesn’t come anywhere near the real world. That doesn’t mean it’s not worth trying. One of the most common challenge questions I get when teaching PMP® Exam Preparation courses is “Why doesn’t PMI make the test more real-world? Why do they insist on testing for a world that no one really lives in?”

Do We Really Need the Second Decimal?
Why are we shrouding a common-sense profession in arcane standards? Sometimes a plan is just a plan. When I suggested that our effort in spreading the project management gospel should be simplification and clarification, one team member shot back: “For every complex problem there is an answer which is clear, simple and wrong.” But there are also clear, simple and correct explanations

War of the Worlds – Lessons Learned from the Martian Invasion (A Martian Perspective)
Carl models best practices for your lessons learned reports, with this otherworldly perspective on the most disastrous project of all time. Kickoff Meeting – The kickoff meeting united the political and logistical sides of the house by clearly defining the vision and the approach. Without clarity on that, we probably wouldn’t have been able to get management to drag their tentacles out of the Dark Ages and sign off on the thing.

Project Management Starts with PR – Branding Project Management
Get It Done At Any Cost? Team Lead’s Best Friend? What’s your project management brand, and how can you use it to the best advantage? What’s your brand of project management? Does it vary from client to client? If so, you may have a problem. Branding is, if nothing else, a lesson in consistency

Click For More of  Carl’s Article Links

Online Webinar – Recorded October 20th, 2016
Activity Type: Education – Course or Training  1 Hour  1 PDU
Provider: Gartner Webinars

More than half a century after the invention of the tape drive, backup seems to be getting more complex and more costly.

Learn how to design and maintain better backup/recovery systems and what technologies, providers and best practices are available to enhance or even revamp your data protection practices.

Discussion Topics:

• The current state of the backup/recovery market and vendors
• What emerging solutions and techniques to use to improve backup, and whether they are real and safe
• The future of backup and best practices for aligning with the future

Join Dave Russell (LinkedIn profile, Gartner bio) Gartner VP Distinguished Analyst, in this informative and useful webinar!

Click to register and view:
Building Better Backup

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Live Webinar October 13th, 2016, 10:00 am – 11:00 am EDT
Activity Type: Education – Course or Training  1 Hour  1 PDU
Provider: Gartner Webinars

Security and risk management leaders are always trying to improve the quality of their metrics to inform better decision making in their organizations.

“Business alignment” is spoken about frequently, but execution is challenging. Key Risk Indicators (KRIs) should have defensible causal relationships to business impacts and present leading indicators to decision makers.

In this webinar, Jeffrey Wheatman (LinkedIn profile, Gartner bio) will discuss a Gartner methodology to integrate risk and corporate performance that helps achieve these goals.

Discussion Topics:

• The characteristics of good KRIs
• How to create defensible causal relationships between IT and business outcomes
• How IT KRIs can be presented effectively to business decision makers

Click to register for:
Building Successful Business Metrics For Technology Risk

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