Formalized and Systematic Risk Management Process for Complex Projects
Project risks can give negative impacts on project objectives such as delay, cost overruns, decrease in quality and security aspects; then, we can observe serious project failures. Risk management aims to identify the possible causes of threats and opportunities, to assess them qualitatively and quantitatively, and to propose an action plan for risks deemed critical in order to decrease the undesirable effects on project objectives.
Complex projects are affected by numerous risks and opportunities because of their complex organizational plan with a large number of stakeholders, complex planning with a long life-cycle, complex resource management, technical issues, and particular environmental factors. These types of projects may also present strategic importance for the project stakeholders. It is essential to identify and analyze the project risks and opportunities throughout the project life-cycle and develop risk response plans in order to decrease the adverse risk effects.
In this study, we proposed a formalized and systematic risk management process for complex and strategic projects. This process helps to identify and analyze the risks and opportunities systematically throughout the project life-cycle, with an in-depth project analysis, associated with the project planning, organizational structure, resources, and environmental factors. The formalized and systematic risk management process is adapted to the dynamic features of the projects, to the different perspectives of the project stakeholders, and proposes an effective risk management method in parallel with the project management. A user-friendly prototype interface has been developed to apply the process for real construction projects. How it works in practice is illustrated through a case study of the construction of a Public-Private-Partnership (PPP) project in France.
- Defining the features and the environmental factors of a complex and strategic construction project,
- Modeling a multi-dimensional project analysis for identifying the main sources of risks and opportunities for complex projects,
- Developing a formalized and systematic risk management process,
- Identifying and analyzing project risks throughout the project life-cycle in parallel with the project management,
- Proposing a strategy for an optimistic risk allocation among the project stakeholders,
- Applying the process in a case study of a Public-Private-Partnership (PPP) project.
Presented by: Esra Tepeli
Esra Tepeli, Ph.D., PMP is a civil engineer having a double major in project and risk management. She obtained her Ph.D. degree in the field of construction project and risk management at the University of Bordeaux and her MBA degree at the IAE Bordeaux, School of Management. During her Ph.D. she worked on project and risk management for complex and strategic construction projects, especially Public-Private-Partnership (PPP), design-build-maintenance and transportation projects, in cooperation with a major French construction company Vinci Construction France. She developed and conducted a formalized risk management process in various big construction projects such as Stadium of Bordeaux, Museum of Ocean and Surf in Biarritz, the University of Mirail in Toulouse, Suspension Bridge of Verdun, Rodez Hospital and Highway projects. After her Ph.D. she started working as an academic member at the University of Technology of Compiègne and then at the University of Versailles in Paris and she has taught a variety of civil engineering and construction management courses for undergraduate and graduate students. Her research and teaching activities deal with project and risk management, construction management and Building Information Modeling. Besides her academic career, Dr. Tepeli is working as a project and risk management consultant in the private sector. Dr. Tepeli is also an active PMI member and conducting volunteer activities for project management education and outreach projects.
1.0 Technical PDU
10 Digit PDU Code: C002XMH9GQ
- 6:00pm – 6:30pm: Check-in/Networking/Food
- 6:30pm – 7:30pm: Program
- 7:30pm – 8:00pm: Open Networking
- $12.00: Online Pre-registered PMICIC Members (Select the Promo Code link and enter your PMI ID to apply discount)
- $25.00: Online Pre-registered Non-PMICIC Members
- $35.00: All Day-of Walk-ins: $30.00 (cash, check, credit card at the door)
*plus ticket processing fee
12175 Visionary Way
Fishers, IN 46038
Enter through Door #1
About PMICIC Monthly Programs
PMICIC has regular monthly programs on the 3rd Wednesday of each month with the exception of November and December that are on different days. Each program revolves around a central topic integral to successful project management. Topics include both Agile and traditional project management and address at least one of the three domains that make up the PMI Talent Triangle: Technical, Leadership, and Strategic & Business Management. Topics will be posted once we confirm the speaker.
In addition to the presentation, attendees enjoy the opportunity to interact with and network with all levels of Project Professionals from across Indy.
Monthly Programs are open to both PMICIC members and non-members.
INTERESTED IN SPEAKING?:
If you or someone you know is interested in speaking, apply here.