Integrated Project Risk Management(IPRM)

Best practices in turn come from experience. Unfortunately, and ironically, good experience comes only from the lessons learned from bad project management. That approach while it looks prudent may be very expensive with undesired consequences. The only other way is to learn from other’s experiences, both failed and successful projects. Effective project management arises from the foundations of lessons learned from such earlier projects and applying innovations to every new project to manage the challenges ahead and in anticipation proactively. Looking to the past provides a window of failures that needs to be avoided and by looking forward and applying reliable and robust project planning, many future problems and failures can be prevented.

Even routine well-tested and proven projects require project risk management. However, complex and expensive projects require extensive understanding and expertise of integrated project risk management (“IPRM”). Without IPRM, the probability of compromised delivery of modern projects with tight funds, schedule, uncertainties and risks is high, sometimes is greater than fifty percent.

Companies which have achieved repeated and consistent success in projects delivery, apply IPRM as an integral part of every project from the conceptual stage until project delivery. Analysis of every failed or compromised project will reveal absence of IPRM as one of the major underlying causes for such failure or compromise.

The seminar will conclude with project induced organizational risk and overall enterprise risk management and how a company can develop skilled integrated project risk management portfolio.

Open to ; Senior Corporate Executives, Senior Managers and Decision Makers of any discipline who are part of the Project Delivery team.

Can project risks altogether eliminated? Is it even possible to manage risks? Should a project team even bother about assessing risk? Does the effort of a thorough risk analysis an unnecessary cost? Is IPRM essential?

These are some of the questions that surface during a project implementation but unfortunately managing risk cannot be ignored as trivial or unnecessary or expensive. Project risk management is critical, but it is not free. However, properly implemented project risk management probability of delivering the project successfully will invariably provide benefits that outweigh the costs of IPRM.

Thus, this seminar will bring a complete understanding of the integrated project risk management (IPRM) by a meticulously prepared interactive model consisting of: