Rethinking Risk Management – Why? Seeking Smart Solutions by 1 Expert!
Rethinking Risk Management – Why? Seeking Smart Solutions The pandemic was the ultimate shock to the system for organizations, redefining how project leaders proactively plan for risks of any scale. But the need for teams to prepare for the unexpected persists. Amid geopolitical unrest and supply chain disruptions, concerns that organizational blind spots could knock […]
Capital Project Petrochemical Process Plant, IRR, and NPV Analysis – Webinar
Capital project for the petrochemical process plant (downstream) is slightly different from other capital projects. It requires estimating Total Installed Cost (TIC) plus Owner cost in order to find the complete project cost. Cost estimation for petrochemical process plant is comprised of equipment specification and definite plant facility information. In this case study, there are […]
Risk Management with Mind Maps
It was a great interactive risk management process walk through with real examples. Discussed: 1- Risk Management plan along with its components 2- Risk Identification. Using sticky notes digitally. 3- Qualitative Risk Analysis. Discussed in details Risk Matrix and who aligned it with Enterprise Risk Management. 4- Quantitative Risk Analysis. Discussed schedule, schedule audit, cost […]
Quantitative Cost and schedule Risk (QCRA, QSRA) Modelling of Weather event.
Introduction Tough, rigid, and uncertain conditions ground and environmental conditions in a remote location can be treacherous. Weather calamity can be a known-unknown or unknown – unknown event with huge impact. Generally, quantitative cost & schedule and Cost (QSRA & QCRA) model are developed for catastrophic events like Hurricane, Tornado and flood etc. Case Study […]
Project Risk Management Plan – Mind Map. What? Only 1 Picture!
Project Risk Management Plan – Mind Map. What? Only 1 Picture! Risk Management Plan – MindMap Quantitative Risk Analysis GleeyM Offer services to identify risks and perform Quantitative Schedule Risk Analysis (QSRA) and Quantitative Cost Risk Analysis (QCRA) for mega complex projects! Click Here Workshop Facilitation GleeYM Offers Workshop Facilitation to help you to make […]
SCHEDULE RISK ANALYSIS (SRA) – SCHEDULE UNCERTAINTY
SCHEDULE RISK ANALYSIS (SRA) – SCHEDULE UNCERTAINTY Keywords: Schedule, Critical Path (CP), Milestone, Deterministic Value, 3-Point estimates, Monte Carlo Simulation, Correlation, Iteration, Cumulative Frequency Chart, Probabilistic Branching, Distribution, Triangular Distribution, Categories, Duration, Finish Date, Uncertainty, Skewness, Positively Skewed, Negatively Skewed. Summary: A schedule risk analysis (SRA) uses a risk-based project schedule (derived from the master […]
Driving Project Portfolio Risk & Opportunity Management for Benefit Realization
Driving Project Portfolio Risk & Opportunity Management for Benefit Realization “Enhance opportunities and reduce threats by aligning sub-portfolios, programs and projects to meet organizational strategic goal” This article illustrates the high-level components of Portfolio Risk & Opportunity Management. The risk is both threats and opportunity. The main goal is to minimize threats and maximize the […]
CONSTRUCTION RISK MANAGEMENT, A DIFFERENT PERSPECTIVE: WHAT? WHY?
CONSTRUCTION RISK MANAGEMENT, A DIFFERENT PERSPECTIVE: WHAT? WHY? Introduction: External pressures like Digital transformation, volatile economic situations, lower rates and changing political scenarios are somehow putting more pressure to stay competitive. Disintegration and lack of information flow in 360 degrees (Up and down, internal and external) are the internal factors that constrict an organization’s growth. The ultimate […]