Primary Author: Dr. David T. Hulett FAACE
Co-Author(s): Eric Ho; Christopher W. Carson, CEP DRMP PSP FAACE; David C. Brady, P.Eng. DRMP
Audience Focus: Intermediate
Application Type: Practice
Venue: 2016 AACE International Annual Meeting, Toronto, ON, Canada
Abstract: The industry has accepted the value of integrated cost and schedule risk workshops as a useful method of identifying, analyzing and mitigating risks, but many times the development of the risk register starts in the workshop itself. This can lead to an incomplete risk register, or a process that is shortchanged and doesn’t provide as much value as possible. There are a number of concerns about attempting to develop a complete and objective risk register without allowing biases to control the final list.
The best approach to developing a risk register while minimizing bias is to implement individual interviews beforehand. This session will provide a mock risk interview in the first hour to demonstrate how a professional handles the interviewing, based on years of extensive experience and successful outcomes.
The second hour will include a mock risk identification and qualitative risk analysis session which will produce the prioritized risk register.
Co-Author(s): Eric Ho; Christopher W. Carson, CEP DRMP PSP FAACE; David C. Brady, P.Eng. DRMP
Audience Focus: Intermediate
Application Type: Practice
Venue: 2016 AACE International Annual Meeting, Toronto, ON, Canada
Abstract: The industry has accepted the value of integrated cost and schedule risk workshops as a useful method of identifying, analyzing and mitigating risks, but many times the development of the risk register starts in the workshop itself. This can lead to an incomplete risk register, or a process that is shortchanged and doesn’t provide as much value as possible. There are a number of concerns about attempting to develop a complete and objective risk register without allowing biases to control the final list.
The best approach to developing a risk register while minimizing bias is to implement individual interviews beforehand. This session will provide a mock risk interview in the first hour to demonstrate how a professional handles the interviewing, based on years of extensive experience and successful outcomes.
The second hour will include a mock risk identification and qualitative risk analysis session which will produce the prioritized risk register.