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Stakeholders & Risk Management: 2 educational Case Studies by PMI

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Hello to everyone,

in the PM Network Magazine of January 2017, I read a couple of interesting articles about Stakeholders (SH’s) and Risk Management, I want to share them with you.

Pages from pmnetwork201701-dl

We know that stakeholders are those individuals/organizations who are actively involved in our projects and/or have a valued interest in the outcome of those projects.  To put it in other words, they are the individuals/organizationsWe know that stakeholders are those individuals who are actively involved in our projects and/or have a valued interest in the outcome of those projects.  To put it in other words, they are the individuals who will influence or/and be influenced by your project.

1. PROJECT: Chicago Cubs victory celebration,  LOCATION: Chicago, Illinois, USA

ct-cubs-parade-world-series-1104

So, the first Case Study is about organizing a celebration event at the city of Chicago for the Fans of the Chicago Cubs who were waited 108 years for their Major League Baseball team to win a World Series title. An estimated 5 million people in Chicago, Illinois, USA lined streets for a parade and filled a public park for a rally and this colossal celebration to mark the occasion was arranged in just one day!!!

This was achieved because the Project team started with a successful Stakeholder Identification process that was intergated with basic processes of Risk Management and all the above was combined with the exploitation of previous Lessons Learned from previous events in Chicago.

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Key points: 

a. Stakeholders Identified:

a. 5 million inhabitants

b. Public park employees

c. Public transportation employees

d. Police officers

e. Contractor for coloring  the river

f. City hall employees

g. Chicago Cubs team

APTOPIX World Series Cubs Parade

b. Lessons Learned that were used:

a. Every years St. Patrick’s Day holiday

b. Celebration for winning the National Hockey League

c.  2008 election night rally for President Barack Obama

WOW FACTOR:

The 7th largest gathering in human history was coordinated in 1 day!!!

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Enjoy the article:   1. SHs case of Chicago

Enjoy a video: Chicago Cubs World Series Champions Parade

 

     2. PROJECT: Renovation of Les Halles Mall   LOCATION: Paris, Europe

screen_shot_2011-10-15_at_10.58.40_pm1318737534981 Les Halles early 1900

The second Case Study, is about the Les Halles in Paris. Les Halles was a central fresh food market back at 1863 that was renovated at 1970 as an underground mall connected with Metro (underground train station—encompass six underground levels) and in our days has 150.000 visitors daily! At 2010 there was a decision for a new renovation so the project was about to begin.

Les Halles 1970  Les Halles in 1970

Reading the article you can realize that in this case the Project Team conducted a detailed Stakeholder Identification process that was followed by successful Risk Management.

Key points: 

a. Stakeholders Identified:

(1) City Government

(2) 750.000 Commuters

(3) Neighboring residents

(4) Local businesses

(5) 150.000 shoppers

(6)  Tourists

Observation post 2Observation post 1

So as to build Stakeholders confidence from start to finish, the project team created an exhibition and observation deck next to the project site open seven days a week. The exhibit’s two staffers showed models of the project and answered visitor questions. The team also provided updates via a project website, email blasts and a biannual magazine, Demain les Halles (Tomorrow les Halles).

Magazine

Moreover, after meeting with stakeholders and consultants, the team decided to increase the number of  mall entrances from seven to nine so as to achieve Stakeholders expectations to become true. It also improved  connections between the  mall and the RER station  and built more spacious  train platforms.

Les Halles 2017 2

b. Identification of Risks and Responses:

Risks were indentified promptly and proper responses were took place:

(1) Projects work schedules were adjusted according to shoppers, commuters, delivery drivers, shop employees cause closing shops would have an effect of a loss of 4 billion euros.

Commuters

(2) Combined to the above, demolition work couldn’t happen at night because the vibrations and noise would keep residencies awake. So the main working hours were 7 to 10 a.m.

(3) When contractors began demolishing walls to remodel the train station, they discovered the thickness and construction of some walls didn’t match the initial architectural plans the project team had reviewed. Moreover, the thickest walls had lots of lead and asbestos which required extra remediation work for which the team had to use the Contigency Time reserve.

Enjoy the article:  2. SHs case study of Paris

Enjoy the videos: 1. Forum des Halles My New Paris

                                  2. Unveiling of 1 billion euro revamp of metro, shopping complex

                                  3. Time lapse of Le chantier des Halles et la canopée

Les Halles 2017

 

 

 

 

 

Les Halles 2017

 

Note: “PMI”, “PMP”, and “PMBOK Guide” are registered marks of the Project Management Institute, Inc.

Business Continuity & Risk Management

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Business continuity planning has become a critical component to companies with respect to risk management. Over the past few years, risk managers have changed how they view risk from looking at it from a silo perspective to an enterprise wide perspective. They have determined that a cohesive corporate risk management strategy is imperative in today’s world. Critical ingredients to this enterprise wide risk management system are being prepared, mitigating risks, recovering from risks, and being able to continue operating.

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For business continuity planning, risk managers are essential to the process.  This point is highlighted in an article by Pat Moore The Role of the Risk Manager in Continuity Planning.    They create and contribute to the steering committee, help to determine the scope of the project, and make certain that the vital resources are provided to achieve the goals and objectives. Some of the benefits of business continuity planning recognized by risk managers are the organization’s ability to comply with contractual agreements concerning delivery of products or services, the institution of procedures to discover and explain for costs incurred during the recovery process, and the reduction of stockholders filing lawsuits against management for a lack of due diligence or duty of trust.

what-makes-a-great-risk-manager

In today’s economy, companies’ risk management areas utilize the business impact analysis (BIA) process to identify the financial and operational impacts of risk exposures for the businesses and their suppliers. The BIA process helps to determine the cost of risks and also develop recovery strategies. Some additional impacts consider with the use of the BIA process are:

  • Loss of critical employees
  • Loss of important documents or records
  • Global issues such as a change in political climate
  • Interruption of importing/exporting operations
  • Critical labor relationships
  • Potential sources of revenue
  • Regulatory controls

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In addition to identifying the impacts of specific areas, the BIA process assists risk management and an organization’s executive management to make better-educated decisions on which business units are critical to the operations of the business, how long of a time lag is acceptable before the units are back in operation, what resources are needed to get the business going again, and the methods on addressing the company’s internal and external interdependencies.

contingency-planning-and-business-continuity

In the past contingency planning was performed by a contingency planner with a background in information systems. However recently companies are realizing that the planning needs to begin with the CEO or COO and then go through the CFO to the risk manager. The risk manager’s goal is to protect the assets and manage the risks of a company and today the risk manager is integrated this objective with the financial decisions and business continuity planning issues. More and more risk managers are becoming involved with strategic management and continuity of operations planning and therefore are influential to helping business continuity professionals improve the process while expanding the scope of contingency planning.

References:

https://erm.ncsu.edu/library

https://erm.ncsu.edu/library/categories/category/risk-appetite

The value of a Risk Management Certification in your profession!

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A few days ago, I read a very interesting article by CNN Money and I want to share it with you. The article has the title “Risk Management profession given an ‘A’ grade”.

cnn-money-logo1

While reading it, you can understand the value of obtaining a Risk Management Certification and what impact this will have in your career and salary!

Enjoy:

        ” Risk Management is a career that has long flown under the radar. Because it is not a common job choice, a frequent question of risk managers is how they found their way into the profession. Risk managers say they wouldn’t do anything else. The reasons they list include interesting duties that differ from day to day, opportunities for creative thinking and problem-solving, and collaboration with other areas in their company.

Risk Management concept image with business icons and copyspace.

Now CNN Money has made the job’s advantages official, listing risk management director as the “second best job in America” of the top 100 “careers with big growth, great pay and satisfying work.”

According to CNN Money:

The job has evolved in recent years to be about more than just natural disasters. Directors are now also tasked with identifying, preventing, and planning for all the risks a company might face, from cybersecurity breaches to a stock market collapse.

what-makes-a-great-risk-manager

Asked why she thinks the job is great, Julie Pemberton, vice president at Diatom Ventures and RIMS 2016 president, told CNN Money:

As they uncover new risks, risk management directors must also advise the company on how to address them. That keeps me totally engaged and gives me the ability to be creative and find solutions for the business. I’m constantly contributing to the business in a meaningful way.

The job as risk management director was given a grade “A” for personal satisfaction, “A” for its benefit to society, “B” for telecommuting and “B” for low stress. Top pay for the job was listed as $200,000 with median pay of $131,000.”

If you want to obtain the Risk Management Professional Certification (PMI-RMP) by PMI so as to have a succesful career, obtain more info from Mr. Athanasios Fourtounas at:

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Read below what the participants have said:

Comments of participants

Ref: http://www.riskmanagementmonitor.com/risk-management-profession-given-an-a-by-cnn-money/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+RiskManagementMonitor+%28Risk+Management+Monitor%29  by Caroline McDonald

Note: “PMI”, “PMP”, and “PMBOK Guide” are registered marks of the Project Management Institute, Inc.

15 Minutes Brain Dump before PMI-RMP Exam is NO MORE available…

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Writing down inputs, tools & outputs of Risk Management processes in (lets say) 8 minutes in a scratch paper during the 15 minutes PMI-RMP exam tutorial really helped candidates gain confidence during the exam. But it’s a “HISTORY” now!

pmp-braindump-surefail-strategy-for-pmp-certification-exam-preparation

Project Management Institute (PMI)® and Prometric have made the following change to the examination format of all PMI® certifications: Candidates are no longer allowed to take any notes/brain dump during the 15 minutes time of the tutorial effective from 23 October 2016 globally.

“Using the scratch paper before the exam time begins has always been against Prometric’s testing center rules, but it was not being properly enforced. Although we don’t have it officially in writing just yet, it is now being strongly enforced”

by Mattie, Customer Representative, PMI.org.

to-do-list-brain-dump-friday

“The brain dump practice, in itself, is not listed within any of the credential handbooks. That is due to this process not being authorized by PMI, nor was it authorized by Prometric. Both PMI and Prometric allowed students to participate in this practice, but have decided to discontinue this, to assure that candidates are reviewing the tutorial in its’ entirety. Candidates that do not review the tutorial, cannot be certain that their answers are being recorded accurately” Cert.ExamDelivery@pmi.org, emails from  27th & 30th of Oct 16

Below is the summary of the policy:

  • Testing candidates can start to utilize their scratch paper/note boards once the exam has officially started
  • Doing a “brain dump” during the 15-minute tutorial period or prior is not allowed
  • All scratch paper/note boards will be collected at the end of the testing session

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My recommendations….

  • At least a month before exam day, know what “critical” exam aids you’ll want to create – within the time allotted for the exam.
  • So going forward PMI-RMP candidates need to plan the exam for 200 Minutes instead of 210 Minutes (3,5 hours)! Learn and Practice to write all your notes as fast as you can, so as to complete your exam on time.
  • I would ask that you to kindly share this so that candidates aren’t startled when their sheets are confiscated during the exam and they’re asked to step outside to the Prometric reception desk … all while the clock continues to count down.

“It’s still worth investing 10 minutes writing these notes even after starting the exam!”

References:

The Ultimate Goal of Risk Management

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Hello to everyone,

below you can watch a number of interesting videos by Rod Farrar  from Paladin servises.

  1. The ultimate goal of Risk Management

 

2. Building Risk Management Culture

 

3. Risk Management vs. Crisis Management

 

Thank you Rod!!!

Το επόμενο σεμινάριο μας ξεκινάει στις 21 Φεβρουαρίου 2017 και υλοποιείται εξ αποστάσεως μέσω της σύγχρονης πλατφόρμας της Human Asset!

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Περισσότερες πληροφορίες: 

Νέο εξ’ αποστάσεως σεμινάριο Risk Management της Human Asset στις 21 Φεβρουαρίου 2017

More info at:

 

Δείτε τι είπαν παλιότεροι συμμετέχοντες:

Σχόλια Συμμετεχόντων

Ειδικές τιμές για όσους στον παρελθόν παρακολούθησαν προγράμματά μας!

Η ομάδα έχει αρχίσει να συμπληρώνεται και οι ελεύθερες θέσεις είναι περιορισμένες για καλύτερη ποιότητα του προγράμματος. 

 

Note: “PMI”, “PMP”, and “PMBOK Guide” are registered marks of the Project Management Institute, Inc.

Ολοκλήρωση του 9ου σεμιναρίου Risk Management της Human Asset στην Θεσσαλονίκη- Δεκέμβριος 2016

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Η επιτυχής ολοκλήρωση του 9ου σεμιναρίου Risk Management της Human Asset που ξεκίνησε στις αρχές Δεκεμβρίου στην Θεσσαλονίκη, είναι γεγονός!!!

Οι συμμετέχοντες που εργάζονται σε διάφορους τομείς και εταιρίες έπειτα από 5 συναντήσεις που πραγματοποιήθηκαν σε 2 Σαββατοκύριακα και περιείχαν θεωρητική γνώση, πολλά case studies και αρκετές ασκήσεις αλλά και ένα απαιτητικό workshop, κατάφεραν να αποκτήσουν βαθιά γνώση των διαδικασιών-εργαλείων και τεχνικών του Risk Management.

Έτσι λοιπόν, άλλη μια ομάδα οδεύει προς τις εξετάσεις και την επίτευξη του στόχου! Αλλά η υποστήριξη και η προετοιμασία της δεν ολοκληρώθηκε, καθώς τις επόμενες εβδομάδες οι συμμετέχοντες θα λάβουν αρκετό εκπαιδευτικό υλικό και πληθώρα Mock tests μέσω της ασύγχρονης πλατφόρμας τηλεκπαίδευσης της Human Asset ώστε να εξασφαλιστεί η επιτυχής συμμετοχή στις εξετάσεις της Διεθνούς Πιστοποίησης PMI-RMP.

Ας διαβάσουμε ορισμένα σχόλια των συμμετασχόντων:

Konstantinos Kalogiannis, Site Engineer, MSc, MEng Civil Engineering:

Although, I’ve only been attending in a 5-days seminar instructed by Athanasios, it’s been a great experience about Risk Management. Athanasios is dedicated to teaching and educating his attendees through interactive course and discussing about many study cases. He’s always open to learning new things and improving instructing levels. I’m thrilled to be able to work with him and I hope I will get to do so in the future. “

Christoforos Zachariadis, MSc ITM, MSc Systems Engineering, ISSO (CiSR), ICT Specialist:

 It has a been a great pleasure to attend Human Asset’s Risk Management Course, which was well-structured, with high quality training materials, high level risk management knowledge and real world experience. Mr. Fourtounas is an effective communicator, always willing to explain in depth the processes of RMP, very well informed and has particular expertise in the subject field of Risk Management. I would strongly recommend attending this course to everyone preparing for the PMI-RMP exam

Thomas Kostakis, Ph.D., Food Science, Management Systems Consultant  at TNK Consulting:

It was a great pleasure to attend the seminar entitled “Risk Management Professional (PMI-RMP) preparation workshop” conducted by Mr Athanasios Fourtounas. His deep knowledge of the subject, his excellent way of transmitting it to us and his overall attitude and communication during the seminar offered a unique experience of training. I strongly recommend to any proffesional to attend this trainning workshop in the future.

Goutas Dimitrios, Senior Developer, M.Sc., MIS:

“The instructor was very supportive and had a real knowledge of the Risk Management process. The seminar was structured in an excellent way analyzing every area using samples and representing all the areas step by step fulfilling the puzzle of Risk Management process.All questions were answered and samples from real life were analyzed and explained in an exhaustive way.

The study material covers all the areas of Risk Management. Cooperation between participants was one of the asset of the seminar helping us to uncover risks as a team and develop the Risk Management procedure step by step. I recommended to everyone who is interested in acquiring skills on Risk Management.”

Anatoli Tsiaousidou, Healthcare Sector, B.Sc.:

“A high quality course. The instructor, Thanasis, was very helpful and he made me understand how to prepare a Risk Management Plan from a practical point of you. With the interactivity of the seminar and the workshop, he gives you the reinforcement for further deepening.”

Το επόμενο σεμινάριο μας ξεκινάει στις 21 Φεβρουαρίου 2017 και υλοποιείται εξ αποστάσεως μέσω της σύγχρονης πλατφόρμας της Human Asset!

Περισσότερες πληροφορίες: 

Νέο εξ’ αποστάσεως σεμινάριο Risk Management της Human Asset στις 21 Φεβρουαρίου 2017

More info at:

Δείτε τι είπαν παλιότεροι συμμετέχοντες:

Σχόλια Συμμετεχόντων

Ειδικές τιμές για όσους στον παρελθόν παρακολούθησαν προγράμματά μας!

Η ομάδα έχει αρχίσει να συμπληρώνεται και οι θέσεις είναι περιορισμένες για καλύτερη ποιότητα του προγράμματος. 

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Το σεμινάριο προσφέρει 20 PDUs για όσους κατέχουν πιστοποίηση PMP

Note: “PMI”, “PMP”, and “PMBOK Guide” are registered marks of the Project Management Institute, Inc.

Νέα διπλή επιτυχία στις εξετάσεις του Risk Management μέσα σε 6 ημέρες!!! Συγχαρητήρια στην Μαρία και τον Χρήστο!!!

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Θερμά συγχαρητήρια στη Μαρία και στον Χρήστο, οι οποίοι τις προηγούμενες 6 ημέρες ολοκλήρωσαν με επιτυχία την προσπάθεια τους για απόκτηση της πιστοποίησης Risk Management Professional (PMI-RMP) και μάλιστα με εξαιρετική βαθμολογία!!

Αμφότεροι είχαν παρακολουθήσει εξ αποστάσεως σεμινάρια Risk Management στην Human Asset από την Ελβετία και την Γερμανία που αντίστοιχα εργάζονται και ας θυμηθούμε τι είχαν δηλώσει μετά πέρας των σεμιναρίων που συμμετείχαν:

Maria Angelopoulou, Project Manager, Swan Systeme AG, PMP, PMI-RMP (5ο εξ αποστάσεως σεμινάριο): 

“Athanasios was my trainer at the e-learning training for Project Risk Management ( RMP- PMI). Athanasios is passionate with his work and her is always willing to help his students with any issue that they may deal. He put all his efforts to help his students to succeed at the certificate of the test. The course went smoothly and the interactive character helped me to understand better the processes and terms of Risk Management.”

Christos Fouzas, Civil Eng.-Construction Manager, PMP, PMI-RMP (7ο εξ αποστάσεως σεμινάριο):  :

 “Ένας εξαίρετος εκπαιδευτής με βαθιά γνώση του αντικειμένου. Η επιτυχία των συμμετεχόντων είναι σίγουρη. Όποιος παρακολουθήσει το σεμινάριο σίγουρα θα δει το Risk Management από μια διαφορετική οπτική γωνία, πιο φιλική και εμπεριστατωμένη.”

Ευχόμαστε κάθε επιτυχία και στους 2. 

Αν θέλετε να μάθετε περισσότερα για το επερχόμενα εξ αποστάσεως σεμινάριο “Risk Management” από 21 Φεβρουαρίου 2017:

Εξ αποστάσεως σεμινάριο Risk Management από 21 Φεβρουαρίου 2017

Εισηγητής:

Fourtounas Athanasios, at.fourtounas@gmail.com ή +306946003220 (Trainer)

Also read what our participants have comment after the seminars.

Ειδικές τιμές για όσους στον παρελθόν παρακολούθησαν προγράμματά μας!

Το σεμινάριο προσφέρει 20 PDUs για όσους κατέχουν πιστοποίηση PMP

* PMP, PMI, PMI-RMP and PMBOK Guide are registered trademarks of Project Management Institute, Inc