Syseneg International Training Institute

Syseneg International Training Institute
Kuala Lumpur, Malaysia
info@syseneg.net

Project Risk Management

Is Your Project a Candidate for FAILURE?

You can find out by reading the rest of this letter. Most new projects are created by new businesses or a major transformation programme. Project Management training programs are being sought after in comparison to other management courses for the first time in decades and yet eight out of every ten projects will fail within three years. It is relatively easy to pick out the projects that will fail. Almost all project failures result from one or more of the following five causes:

POOR PLANNING
About 95 percent of new projects are started without a documented risk management plan, yet experienced project managers believe detailed planning is essential to project success.
How can you get to get to achieve
success unless you know what are the
possible challenges or threats along
your path!
Q. What are the risks facing your
project, how much it will cost the
organization to minimize the impact of
these risks assuming you know what
those risks are?
Poor Governance,
Risk & Compliance
Most companies have risk management framework however the application of project risk management processes in project planning phase and project execution phase is lacking which resulted in poor estimation of time and cost in managing a particular risk or threat during project life cycle.
Q. Have you established the appropriate management structure to ensure that the practice of project governance and compliance to risk management processes are being adhered to in running a project?
Poor Contingency Management
Making a list of contingencies associated with top ten risks without use of appropriate risk management tool is not going to be an easy task. This process involved estimating the probability of risk and the impact on project KPI such as performance, project delivery, capital expenditure, and also the impact of these risks on the entire project environment.
Q. Do you have the right tool to assist in contingency planning and managing the cost of all contingencies in your project?
No Risk Modeling Tool
Modeling the combined effects of risks that involved contractual liabilities, financial liabilities, financial charges due to inflation on labor, material or third party licenses , and how all these costs impact the project budget.
Q. Do you use a systematic, structured and business friendly tool to help you with the risk modeling process that enable you to provide an accurate analysis of all cost associated with risks in your project? If you cannot measure, you simply cannot manage your project within the budgeted cost.
Lacks Accountability
Most companies have risk management framework however the application of good project risk management practices are seldom being applied in a project life cycle. Project Initiation phase and Project Planning phase are two critical phases of a project that demand most of your time. Poor estimation of time and cost during project scoping exercise will lead to budget overrun.
Q. Do you spend sufficient time in defining the threats facing your project?
Q. Who is accountable in providing “Project Financials” for approval by project executive committee?

To download the PRISM Course brochure, Click the link below or right click and save into your desktop.

COURSE OBJECTIVES

Master the art of managing project risks with hands-on learning experience using a risk management tool called “PRISM”.
Learn the process of managing risk following PMBOK^® risk management framework, identify major risks, qualify and quantify risks, assess its impact, plan for contingencies, plan for provisions and project liabilities, and many more.
Ability to analyze risks easily and make informed decisions based on financial impact of these risks to project budget which is crucial if you want to manage within the agreed project budget.
Use data captured in PRISM to support development of your Project Risk Management Plan that is one of the significant milestone in Project Planning phase.
Track all costs associated with your project that impact project cost, scope, schedule and quality and determine the project risk rating easily using PRISM.

A business-friendly project risk management tool will be provided free for effective learning experience subject to End User License Agreement (EULA).

Syseneg International Training Institute
Kuala Lumpur, Malaysia
info@syseneg.net

Syseneg International Training Institute

Project Risk Management

POOR PLANNING

Poor Governance,Risk & Compliance

Poor Contingency Management

No Risk Modeling Tool

Lacks Accountability

Poor Governance,
Risk & Compliance