Pre-Conference Risk Management Focus Afternoon | March 26
To focus in on the legalities of developing and sustaining an effective project controls strategy,
this pre-conference focus afternoon is dedicated to a series of workshops focusing on risk.
From identification to mitigation, enjoy a series of interactive sessions over the course of the
afternoon for a comprehensive guide to ironclad project controls practice.
1.30 Identifying & Quantifying Risk: A Guide to Effectively Recognizing Project Vulnerabilities
As a project controls specialist, the existence of risk for each project and the company as a whole is a familiar concept. But, is the definition of “risk” as obvious as it may seem? Are all risks on every project truly identified, or could you or your company be more proactive in the preliminary project phase? Plus, once they’re identified, are you confident in your capacity and methodology for quantifying the impact or severity of the risks isolated? This workshop will delve into how to comprehensively identify both the obvious and less obvious risks of your project, how to quantify their potential impact, and how to get the team on board to recognize what needs to be focused on.
Rebecca Barbier, Vice President of Project Controls, APTIM
2.30 ARES PRISM Presentation: Details TBC
ARES PRISM is an enterprise project controls software that manages the complete project lifecycle delivering dependable forecasts, cost control, and performance measurement. PRISM is a scalable, robust and intuitive system that harnesses industry best practices and integrates all aspects of the project, including cost and schedule, change management, project estimating, earned value, contracts & procurement, and field progressing. Achieve superior project management with increased visibility and control, boosted accuracy and efficiency, and improved financial performance.
2.40 How To: Creating a Contingency & Balancing Your Drawdown
Contingency budgets are an invaluable tool for absorbing unexpected spend across projects of all sizes. As per their significance, a lot of time is spent creating the contingency and doing it well, but is there a uniform methodology on how to spend it and what to spend it on, when the need arises? Are there clear standards on what to include in contingencies, and the modelling you use? This workshop will cover best practice in creating your contingency, and setting standards for contingency drawdown, to ensure that it’s built correctly, spent appropriately, and available for the entirety of the project.
Adam Weaver, Senior Project Manager for Engineering Services, Williams
John Hale, Business Process Analyst Consultant, Williams
4.10 Distinguishing Improved Process for Risk Tracking & Mitigation: Reducing Risk Exposure
Front end risk planning is vital for any project. But, as time goes on, how much investment is made into tracking project risks as they occur, and are sufficient adjustments made to your risk management strategy throughout the lifecycle of the project? This workshop will assess best practices in tracking risk throughout the duration of projects, illustrating the importance of a fluid risk management strategy to effectively minimize entire risk exposure. You’ll also hear top tips on how to mitigate risks as they’re identified through tracking, discussing different means to lessen their potential impacts, in addition to maintaining transparency with reporting risk contingencies to upper management
Tina Gunderman, Project Controls Manager, Wood Foster Wheeler Fired Heaters
5.10 End of Focus Afternoon