Abstract:

Conventional project mantras include “Cut costs” and “Increase production.” While such precepts are not without merit, a focus on cost control or enhanced production can have unintended consequences and, actually, miss the main point of enhancing project value. Implementation of risk assess-ment and risk management techniques – especially risk monetization and its associated metrics – in a project team can greatly enhance project value. However, the myriad disciplines/departments that compose a modern corporation, their unique views as to just what is “risk,” the various metrics utilized, and especially the entrenched reward system all make difficult the implementation of any risk assessment/management scheme in a contemporary project team. This talk will highlight the salient cultural, organizational, political, and technical foibles associated with uptake of risk assessment/management methods and will propose some practical approaches to overcome the hurdles of implementation.


Presenters:
Glenn Koller, Ph.D.