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Describes typical risk management approaches, Pratt and Whitney Canada's risk management in their product development process, describes how complexity assessments measure level of difficulty of a proposed project and how using this approach ensures risk assessments are not techno centric. Part of a project portfolio management system.
The RAVE methodology is focused on the team's "hot list" of the top seven-to-nine project risks.
This presentation will cover how WSDOT changed the project management culture, from getting their project managers to just try using risk based estimating, into it being a common way of managing projects. Risk based estimating is a tool that supports risk management, without effective risk management you lose much of the benefits of risk based estimating. How to overcome the feeling that risk based estimating is just a flavor of the month. Lessons learned and best practices will be presented to prevent others from learning the hard way. What is needed to build a risk program within an organization and how do you keep it from being just another thing for project managers to do? Top ten reasons why to implement a risk program within your organization.
The Ministère des Transports du Québec (MTQ) is currently planning to renovate the Louis-Hyppolite Lafontaine bridge-tunnel in Montréal. The purpose of the project is to upgrade the tunnel’s safety level in the event of a fire to allow people to be evacuated by means of an emergency exit that complies with the standards applicable to road tunnels with an acceptable risk level for such infrastructures. The Ministère would like to determine the acceptable risk level based on a rigorous methodological process.
The project is currently at the feasibility analysis stage. The project team members have performed a value analysis to ensure that the project will meet the stated needs cost-effectively while improving the bridge’s functionalities and reducing the risks and consequences of any incidents.
The originality of the proposed approach stems from the fusion of two established and internationally recognized methodologies: Value analysis and Risk analysis (or Specific Hazard Investigation).
The risk analysis was inspired by the booklet 4 of the Guide to road tunnel safety documentation.
This guide is intended to give the players involved a common understanding of the way in which these structures work, their environment and their action required in order to ensure safety.
This European method was developed in connection with a joint research project of the Organization for Economic Co-Operation and Development (OECD) and l’Association internationale permanente des congrès de la route (AIPCR) also called World Road Association (PIARC) with financial participation from the European Union. This method considers the tunnel as being a global system made up of users, the infrastructure itself with its equipment and environment, the operator, in addition to the intervention and emergency services. A function model (cornerstone of VA) was developed by the team. A disaster scenario was simulated and the tunnel’s performance evaluated for each function. The analysis revealed functions that need to be improved and a brainstorming session provided innovative solutions to improve user safety. A comparative analysis of scenarios made it possible to recommend a best possible scenario, i.e., the one that was the most cost-effective in meeting the stated needs.
Risk Analysis as a Portfolio Budgeting Tool
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The project manager is responsible for the overall cost of a project. The presentation will discuss the proper integration of Schedule Risk Analysis and Cost Risk Analysis techniques to offer the project manager powerful insight into not only schedule impacts but also the cost impacts of project risks.
- About VA
- Business Process, Restructuring
- About CSVA
- Success Stories
- Functional Performance Specification (FPS)
- Project Management
- Risk Analysis
- 2004 CSVA Conference
- 2006 CSVA Conference
- 2007 CSVA Conference
- 2008 CSVA Conference
- Business Processes, Restructuring
- Innovation, Integration