Podcasts about project risk management

Welcome to RIMScast. Your host is Justin Smulison, Business Content Manager at RIMS, the Risk and Insurance Management Society.   In this episode, Justin interviews Kellee Ann Richards-St. Clair, the Vice President, Commercial, Phoenix Park Energy Marketing Limited. Justin and Kellee Ann discuss her target risk career starting in her undergraduate days studying chemistry, to her role as VP of Commercial for a gas supply organization. She describes the range of responsibilities she carries. Kellee Ann also speaks of her presence at the upcoming RIMS ERM Conference 2025 on November 17th and 18th in Seattle, Washington.   Listen for understanding about the complexity and interconnectivity of risks in ERM.   Key Takeaways: [:01] About RIMS and RIMScast. [:17] About this episode of RIMScast. Our guest is Kellee Ann Richards-St. Clair. She is the Vice President of Commercial at Phoenix Park Energy Marketing Limited, and a member of the RIMS Strategic and Enterprise Risk Management Council. There is much to discuss with her! But first… [:47] The next RIMS-CRMP-FED Virtual Workshop will be held on November 11th and 12th and led by Joseph Mayo. Links to these courses can be found through the Certifications page of RIMS.org and through this episode's show notes. [1:07] RIMS Virtual Workshops! RIMS has launched a new course, "Intro to ERM for Senior Leaders." It will be held again on November 4th and 5th and will be led by Elise Farnham. [1:21] On November 11th and 12th, Chris Hansen will lead "Fundamentals of Insurance". It features everything you've always wanted to know about insurance but were afraid to ask. Fear not; ask Chris Hansen! RIMS members always enjoy deep discounts on the virtual workshops! [1:40] The full schedule of virtual workshops can be found on the RIMS.org/education and RIMS.org/education/online-learning pages. A link is also in this episode's notes. [1:51] RIMS Webinars! On November 6th, HUB will present "Geopolitical Whiplash — Building Resilient Global Risk Programs in an Unstable World". That session will be moderated by Christina Howard, our guest from last week. Register at RIMS.org/Webinars. [2:08] The RIMS ERM Conference 2025 will be on November 17th and 18th in Seattle, Washington. The agenda is live, and the link is available in this episode's show notes. [2:20] That brings us to today's guest, Kellee Ann Richards-St. Clair. She is the Vice President of Commercial at Phoenix Park Energy Marketing Limited, a U.S. subsidiary of Phoenix Park Gas Processors, LLC. [2:35] We're going to learn all about oil, gas, and the energy sector and how it intertwines with ERM. In addition, Kellee Ann will be making her RIMS ERM Conference debut! [2:48] Kellee Ann will be highly visible, especially on November 18th, when she leads the ERM Networking Breakfast, the Conference Finale Panel, and the recently added session at 1:30 p.m. on the 18th, "Exploiting Uncertainty: Making the Business Case for Strategic Risk Treatments." [3:09] That session was added after we recorded this interview, which is why we do not discuss it. Kellee Ann has a fascinating career and background. Between that and her presence at the ERM Conference, she's a wonderful guest, and I'm so glad we had this interview! [3:23] On with the show! Let's get to it! [3:25] Interview! Kellee Ann Richards-St. Clair, welcome to RIMScast! [3:34] Kellee Ann Richards-St. Clair, it's a pleasure to finally have you on our show!  [3:43] Kellee Ann is a relatively new member of the RIMS Strategic and Enterprise Risk Management Council. She will be at the RIMS ERM Conference on November 17th and 18th. She will lead the ERM Networking Breakfast Tabletop Discussions. [4:12] Kellee Ann has a fascinating career, and she works in a unique sector. She's an energy sector professional and works in the oil and gas industry. The key to her embarking on the risk journey was when she did her Master's in Project Management. [4:36] One of the areas was Project Risk Management, to which Kellee Ann had a great affinity. She liked the analytical thinking that goes behind assessing what could likely impact your project. [4:53] Also, the accountability and ownership that goes into the planning phase, making sure that you're thinking of everything that could go wrong, as a means of making sure that you're achieving your objectives. [5:05]  In 2004, Kellee Ann wrote her thesis on implementing enterprise risk management practices into private sector organizations. [5:15] It honed the tools she would use in project risk management with the greater goal of having a large impact on the organization, by impacting strategy and strategy delivery. [5:33] From there, Kellee Ann participated in risk committees in her organization and other organizations, helping them push the risk agenda and making sure they have the right mindset that allows them to make sure that they are achieving their business mandates. [5:59] Kellee Ann always intended to work in the energy sector in oil and gas. Her undergraduate degree is in chemistry. She always liked understanding how things are made and how they function. In the energy space, many of the operations are rooted in chemistry. [6:22] Kellee Ann speaks of the business component of getting the molecules out to market. ERM meshes with her affinity for chemistry, risk management, business, analytical thinking, and understanding how your business model functions and what could likely impact it.  [7:13] Kellee Ann has managed project risk registers for her department, on the commercial side. She is always risk-focused, identifying any threats to the business and incorporating that into contract negotiations, and how she liaises with her stakeholders and customers. [7:41] For Kellee Ann, it was a perfect match, meshing her passion and her job responsibility. In the risk management profession, you get to have a direct impact on the success or failure of your business. [8:03] Kellee Ann is based in Houston with Phoenix Park Energy Marketing Limited, the U.S. subsidiary of Phoenix Park Gas Processors LLC, which is located in Trinidad and Tobago. It's a natural gas processing facility. [8:23] Kellee Ann leads the commercial function of Phoenix Park Energy Marketing Limited. The energy sector is dynamic, impacted by geopolitics, the volatility of market prices, and even other industries, and the investments they make. [8:37] For example, AI requires lots of power to run. For AI development to be successful means heavily investing in power. That's likely to have an impact on commodity prices. Everything is interconnected. [8:52] Interconnected risk is a current process in terms of managing the complexity of the current business environment. The energy sector becomes a good proxy for how you manage complex operations and still run a profitable business, fulfilling its purpose and mission. [9:16] Kellee Ann's mental model of risk management is prudent decision-making. You have to be able to justify to the shareholders that you are leading the organization in the right direction and prove the thinking behind what you are recommending. [9:42] You have to demonstrate the value proposition: This is what will prevent me from implementing my mission, and this is what I'm going to put in place. [9:51] Even though this is preventing a threat, these are the opportunities I'm seeing out of it. This is how I can move the needle a little further, because I'm looking at it from a holistic perspective. I'm no longer looking at it as a separate function. It becomes good business. [10:16] Kellee Ann is not functionally in charge of commercial. She is in charge of the strategic aspects of it. The Risk Management Department focuses on the operational aspects of the business and also feeds in strategic elements. [10:29] Kellee Ann has incorporated ERM into her lifestyle because of her subject matter expertise. She has gotten the opportunity to lecture on enterprise risk management and offer consultancy for private sector organizations that are early adopters in terms of risk maturity. [10:49] Kellee Ann considers that she has a broad experience in risk management, leveraging the tools in each of her job responsibilities. [11:05] Kellee Ann is over enterprise risk management from a strategic perspective. She has a high-level view of all risks likely to impact operations. She ensures that all risk mitigations are in place and makes sure she is exploiting all opportunities the organization would like to embrace. [11:31] There is enterprise risk management expertise within the organization, focused on the functional perspective, while Kellee Ann focuses on the strategic perspective, looking at emerging risks and how they impact the business and the marketability of the product. [11:49] Kellee Ann also looks at what areas of opportunity it opens up for her in terms of making an impact on the customers. [11:58] Kellee Ann is Vice President of Commercial. There is a separate Risk Management Department. They work together regularly. Kellee Ann tells how risks are managed functionally and strategically, and that employees have toolkits to distill information for prudent decisions. [12:36] Quick Break! The RIMS CRO Certificate Program in Advanced Enterprise Risk Management is our live virtual program led by the famous James Lam. Great news! A third cohort has been announced, from January through March 2026! [12:57] Registration closes January 5th. Enroll now. A link is in this episode's show notes. [13:06] Save the dates March 18th and 19th, 2026, for The RIMS Legislative Summit, which will be held in Washington, D.C. [13:14] Join us in Washington, D.C., for two days of Congressional Meetings, networking, and advocating on behalf of the risk management community. Visit RIMS.org/Advocacy for more information and updates and to register. [13:28] We've got more plugs later. Let's return to our interview with Kellee Ann Richards-St. Clair! [13:48] When communicating risks and opportunities to executive leadership, instead of charts, Kellee Ann utilizes storytelling to create a more compelling description of what is happening in the market or external environment and how it's going to impact the organization. [14:08] Kellee Ann says there has to be a balance between the quantitative and the qualitative. [14:12] You have to communicate in a way that demonstrates the business case for taking a particular action, whether or not you want to enter a new market, market new commodities, or introduce new technology. [14:24] All of that is likely to introduce risks, either from a threat perspective or an opportunity perspective. You want to be able to have the conversation in a way that everybody understands, everyone is on the same wavelength, and understands why this direction has to be taken. [14:40] This is important in terms of culture building. You want to have a culture of risk management. You want to have a culture where everyone is aware that you're not making decisions by intuition, feeling, or personal bias, but that decisions are driven by data. [15:00] Context matters. Storytelling is what is going to make that context clearer. [15:05] Kellee Ann asks, if you decide by going with your gut, you might be lucky, but how do you defend it if your luck runs out? It's very important to be emotionless in decisions. The data has to tell the story. You want to marry the data with the context. [15:51] Global current events can be brought into the discussion if they are materially in context. In risk management, it's very important to determine the impact they are likely to have on the organization. It brings to the forefront the question of relevance. [16:09] News is important for information, from the point of view of awareness. You want to distill the news in the context of relevance to your organization. There will be some events where your competitors are taking a particular action successfully. [16:26] They may be successful because their business model is designed in a way that allows them to capture that opportunity faster. If you take a copy-and-paste approach, you may find that you're not going to be successful because your supply chain or context is different. [16:43] A snippet of it may be relevant, but you have to redesign it, looking at your internal resources or the eternal context. [16:53] You have to map it to internal resources to determine whether or not this is going to have a high impact on your organization, whether or not it's good to know, or whether or not it's to be monitored to determine when is the right time for you to implement it. [17:07] Kellee Ann says the complexity comes in distilling what it is, if it is relevant, and the timing of that relevance. [17:18] Kellee Ann is more inclined to work just in time rather than be tied to arbitrary deadlines that do not add value. This comes from her project management background. What are your business drivers? What are the regulatory deadlines? What is the customer expecting? [18:50] The art and science of risk management. [21:26] One Final Break! Some of you may have heard he recent RIMScast episode sponsored by Diligent, "Mastering ERM: Leveraging Internal and External Risk Factors," with Jason Venner, who's also a RIMS-CRMP-FED holder. [21:41] Jason is joining us here on RIMScast to discuss his upcoming appearance at the RIMS ERM Conference 2025, which will be held on November 17th and 18th. We will be seeing him present on Tuesday, November 18th. [21:58] His session is titled, "Benchmarking Beyond Boundaries: Elevating ERM Programs with External Risk Insights." Jason, welcome back to RIMScast! Tell us all about it! [22:08] Jason says, We're going to be joined by one of our partners, my colleague and friend, Maurice Crescenzi, an industry practice leader at Moody's, in Risk Analytics. [22:22] The audience is going to learn about the value of being able to benchmark your risk information and data against your peers, competitors, and suppliers to be able to provide your leadership and board with a single, clear view of holistic risk, internally and externally. [22:40] This session provides the external viewpoint. [22:51] Jason encourages audience participation and will be available for questions afterward, for as long as anyone needs. He is super excited to get to this conference! Several of his colleagues from Diligent are going to be there, along with Maurice and some of his colleagues. [23:05] If you don't catch Jason after the session, please stop by the Diligent booth. He'll talk for as long as you want. We'll see you there! [23:15] Thank you, Jason. I look forward to seeing you there. As we said, remember to look for the link in this episode's show notes to Jason's recent RIMScast appearance on mastering ERM. [23:28] Let's Conclude Our Interview with Kellee Ann Richards-St. Clair! [23:51] Kellee Ann describes business risks. You want to get away from siloed thinking. Risk management tends to create siloes of functional, financial, and operational risks. You have to look at it all as business risks.  [24:38] There's liability. You have to pay out claims, or there's an impairment to your reputation, either losing the customer trust to operate, or shareholders withdrawing their cash. It starts with reframing. Kellee Ann speaks of environmental risk and supply chain resilience. [25:39] If you are a coffee supplier, what is the risk if you lose access to coffee plantations? The cost of supply increases. The quantity of produce is no longer there due to climate change. [26:09] There are aspects of human rights. Are you procuring employees in a fair and just manner? Are the work conditions safe? It's a business risk if people leave because they are not safe. The conversation has to be reframed in terms of how you are identifying risk. [27:06] Environmental risks can be greater and more material than operational risks. [27:42] About ESG Governance. Planetary boundaries are not anecdotal or a special-interest topic. They have to be part of the risk conversation about your risk capacity. Kellee shares an example about shipping through port facilities. Map your risks, global to internal. [30:13] Kellee Ann explains further about climate risks, resources, and geopolitical sensitivities. [31:59] Looking at the agenda of the ERM Conference 2025, Kellee Ann is starting and closing our day on Tuesday, November 18th. She'll be supervising the ERM Networking Breakfast Tabletop Discussion. There will be discussions at each table, and you are encouraged to join in. [32:32] Kellee Ann will be leading off the topic on Emerging Risks. She'll be interested to find out from her peers who will be on the table for their views on Emerging Risks and the tools they use to identify and manage emerging risks in their organizations. [33:02] At the end of the day, at 3:30 p.m., Kellee Ann will be part of the ERM Conference Finale, SERMC Panel Discussion, along with other members of the RIMS SERMC Council, to recap some of the Conference highlights, observations, and new information. [33:24] Kellee Ann is excited to be onstage with the others, gain new insights, and share her perspective on what she learned at the Conference. Kellee is comfortable onstage. [33:44] Justin says it will be a new way for us to close out the Conference. I'm very much looking forward to it and to meeting you in person, as well. [34:05] The RIMS ERM Conference has been on Kellee Ann's wish list for a while, and she's made it happen this year. [34:22] I look forward to seeing you on November 17th and 18th at the RIMS ERM Conference 2025, in Seattle, Washington. [34:37] Special thanks again to Kellee Ann Richards-St. Clare for joining us here on RIMScast. She will be omnipresent at the RIMS ERM Conference 2025, November 17th and 18th, and especially on the 18th. She'll be helping to kick off that Breakfast Networking Session. [34:54] And then at 1:30, she was recently added to the new session, "Exploiting Uncertainty: Making the Business Case for Strategic Risk Treatments." That was added after this interview was recorded. [35:05] Of course, Kellee Ann will be on the panel closing out the Conference, during the Finale, so be sure to stop by, say hello, and tell her that you heard her fabulous interview on RIMScast! [35:18] Plug Time! You can sponsor a RIMScast episode for this, our weekly show, or a dedicated episode. Links to sponsored episodes are in the show notes. [35:46] RIMScast has a global audience of risk and insurance professionals, legal professionals, students, business leaders, C-Suite executives, and more. Let's collaborate and help you reach them! Contact pd@rims.org for more information. [36:03] Become a RIMS member and get access to the tools, thought leadership, and network you need to succeed. Visit RIMS.org/membership or email membershipdept@RIMS.org for more information. [36:20] Risk Knowledge is the RIMS searchable content library that provides relevant information for today's risk professionals. Materials include RIMS executive reports, survey findings, contributed articles, industry research, benchmarking data, and more. [36:36] For the best reporting on the profession of risk management, read Risk Management Magazine at RMMagazine.com. It is written and published by the best minds in risk management. [36:50] Justin Smulison is the Business Content Manager at RIMS. Please remember to subscribe to RIMScast on your favorite podcasting app. You can email us at Content@RIMS.org. [37:01] Practice good risk management, stay safe, and thank you again for your continuous support!   Links: RIMS ERM Conference 2025 — Nov. 17‒18 | Register Now RIMS-CRO Certificate Program In Advanced Enterprise Risk Management | Jan.‒March 2026 Cohort | Led by James Lam RISK PAC | RIMS Advocacy | RIMS Legislative Summit SAVE THE DATE — March 18‒19, 2026 RIMS-Certified Risk Management Professional (RIMS-CRMP) The Strategic and Enterprise Risk Center RIMS Diversity Equity Inclusion Council RIMS Risk Management magazine | Contribute RIMS Now RIMS Professional Report: "Understanding Interconnected Risks" Upcoming RIMS Webinars: RIMS.org/Webinars "Geopolitical Whiplash — Building Resilient Global Risk Programs in an Unstable World" | Nov. 6 | Sponsored by HUB   Upcoming RIMS-CRMP Prep Virtual Workshops: RIMS-CRMP-FED Exam Prep Virtual Workshop — November 11‒12 Full RIMS-CRMP Prep Course Schedule "Intro to ERM for Senior Leaders" | Nov. 4‒5 | Instructor: Elise Farnham "Fundamentals of Insurance" | Nov. 11‒12 | Instructor: Chris Hansen "Leveraging Data and Analytics for Continuous Risk Management (Part I)" | Dec 4. See the full calendar of RIMS Virtual Workshops RIMS-CRMP Prep Workshops   Related RIMScast Episodes about ERM: "AI and the Future of Risk with Dan Chuparkoff" (RIMS ERM Conference Keynote) "Talking ERM: From Geopolitical Whiplash to Leadership Buy-In" with Chrystina Howard of HUB "Shawn Punancy of Delta Flies High With ERM" "Tom Brandt on Growing Your Career and Organization with ERM" "James Lam on ERM, Strategy, and the Modern CRO" "ERM, Retail, and Risk with Jeff Strege" "Bigger Risks with the Texas State Office of Risk Management" | Sponsored By Hillwood "ERMotivation with Carrie Frandsen, RIMS-CRMP" "Live from the ERM Conference 2024 in Boston!" "Risk Quantification Through Value-Based Frameworks"   Sponsored RIMScast Episodes: "Mastering ERM: Leveraging Internal and External Risk Factors" | Sponsored by Diligent (New!) "Cyberrisk: Preparing Beyond 2025" | Sponsored by Alliant "The New Reality of Risk Engineering: From Code Compliance to Resilience" | Sponsored by AXA XL "Change Management: AI's Role in Loss Control and Property Insurance" | Sponsored by Global Risk Consultants, a TÜV SÜD Company "Demystifying Multinational Fronting Insurance Programs" | Sponsored by Zurich "Understanding Third-Party Litigation Funding" | Sponsored by Zurich "What Risk Managers Can Learn From School Shootings" | Sponsored by Merrill Herzog "Simplifying the Challenges of OSHA Recordkeeping" | Sponsored by Medcor "How Insurance Builds Resilience Against An Active Assailant Attack" | Sponsored by Merrill Herzog "Third-Party and Cyber Risk Management Tips" | Sponsored by Alliant   RIMS Publications, Content, and Links: RIMS Membership — Whether you are a new member or need to transition, be a part of the global risk management community! RIMS Virtual Workshops On-Demand Webinars RIMS-Certified Risk Management Professional (RIMS-CRMP) RISK PAC | RIMS Advocacy RIMS Strategic & Enterprise Risk Center RIMS-CRMP Stories — Featuring RIMS President Kristen Peed!   RIMS Events, Education, and Services: RIMS Risk Maturity Model®   Sponsor RIMScast: Contact sales@rims.org or pd@rims.org for more information.   Want to Learn More? Keep up with the podcast on RIMS.org, and listen on Spotify and Apple Podcasts.   Have a question or suggestion? Email: Content@rims.org.   Join the Conversation! Follow @RIMSorg on Facebook, Twitter, and LinkedIn.   About our guest: Kellee Ann Richards-St. Clair, Vice President, Commercial, Phoenix Park Energy Marketing Limited (US Subsidiary Phoenix Park Gas Processors LLC) member of the RIMS Strategic and Enterprise Risk Management Council (SERMC).   Production and engineering provided by Podfly.  

The Challenger disaster serves as a stark reminder of the importance of rigorous risk assessment and the potential consequences of ignoring or downplaying warnings. In Risk Management Lessons from the Challenger Disaster, I'm paralleling takeaways from the Challenger disaster with how Project Managers can reduce project risk through effective risk management.Godspeed to the Challenger Astronauts Sharon Christa McAuliffe, Michael J. Smith, Judith A. Resnik, Ronald E. McNair, Ellison S. Onizuka, and Gregory B. Jarvis

In this episode of Navigating Major Programmes, Riccardo Cosentino dives into an engaging conversation with AI visionary Dev Amratia, uncovering how AI is revolutionizing the infrastructure industry. Together, they explore the game-changing potential of harnessing data from over 760,000 global projects to forecast outcomes with precision, drastically improving risk management and efficiency. Dev reveals the untapped possibilities of AI, from smarter decision-making to reshaping the very way projects are delivered, offering insights that challenge traditional approaches and inspire a bold new future for infrastructure. "What if we had the experience of 760,000 projects between the two of us and then worked on a project, wouldn't we be hundreds of times more effective than we currently are?" – Dev Amratia Dev is the Co-Founder and CEO of nPlan, where he is at the forefront of rethinking how project outcomes are forecasted and addressing risk in the built environment. With an aerospace engineering background and 9 years of capital project management experience, he combines both technical and commercial expertise to tackle complex challenges. Dev also co-authored the UK Government's AI Review (2017) and is a Chartered Engineer (CEng) through the Royal Institute of Mechanical Engineers. Key Takeaways:Why AI's full potential in project timelines, risks, and improvements is still untappedHow can the infrastructure industry overcome inefficiency and poor risk management when outdated methods, like fixed-price contracts based on incomplete dataThe cultural shift  needed for AI adoption, with ground-level resistance requiring both top-down and bottom-up strategiesData-driven decision-making is crucial for the infrastructure industry, as AI-facilitated collaboration and data sharing can improve project outcomes and reduce adversarial approaches. If you enjoyed this episode, make sure and give us a five star rating and leave us a review on iTunes, Podcast Addict, Podchaser or Castbox. The conversation doesn't stop here—connect and converse with our LinkedIn community: Follow Dev Amratia on LinkedInLearn more about nPlanFollow Navigating Major Programmes on LinkedInFollow Riccardo Cosentino on LinkedInRead Riccardo's latest at wwww.riccardocosentino.com  Music: "A New Tomorrow" by Chordial Music. Licensed through PremiumBeat.DISCLAIMER: The opinions, beliefs, and viewpoints expressed by the hosts and guests on this podcast do not necessarily represent or reflect the official policy, opinions, beliefs, and viewpoints of Disenyo.co LLC and its employees.

In this podcast chat, Anthony shares key tips for successful project risk management, which, if done correctly, means more successful projects!The ABM Risk Partnership team - Brett Palmer, Tony Anderson and Anthony - recently presented a workshop titled 'Managing Uncertainty - Project Risk Management' at the RMIA 2024 Risk Conference in Sydney.The workshop was attended by a diverse range of people representing business and government from across Australia. The session was well received by attendees who actively participated and shared their own project experiences.This episode summarises the key points of our presentation and the excellent feedback we received from attendees - we trust you find it useful and welcome your feedback.Cheers, Anthony Contact ABM Risk Partnership to optimise your risk management approach: email us: info@abmrisk.com.au Tweet us at @4RiskCme Visit our LinkedIn page https://www.linkedin.com/company/18394064/admin/ Thanks for listening to the show and please keep your guest suggestions coming!

Hey everyone, welcome back to the Hope is NOT a Plan podcast, Radical Candor in Risk Management | Five Minute Friday 02, I'm your host, Kevin Pannell. Today on Five Minute Friday, well, Saturday edition I suppose, I'm diving into a concept crucial for project success: Radical Candor and Risk Management. As an example, my radical candor is that I was traveling yesterday, got home, got some work done, then took advantage of time with my wife and kids. I apologize for not delivering on a Friday, but here we are, and here we go…Key Concepts:Not glossing over risksKim Scott's concept of Radical CandorInclude the teamHonesty in Project ManagementStay safe, wash your hands, and Godspeed y'all,Kevin

Welcome to this new episode of the podcast

In this episode, Anthony and Brett discuss how to manage risk in projects - be they big or small!Regardless of size, projects or programs have some very similar 'core' risks - making them ideal for using historical project performance to inform the risk identification process of the new project.We discuss the key elements organisations need to consider when managing project risk, whether the organisation is a frequent executor or projects or whether they only arise periodically.We hope this episode helps refine your project risk management outcomes!Contact ABM Risk Partnership to optimise your risk management approach: email us: info@abmrisk.com.au Tweet us at @4RiskCme Visit our LinkedIn page https://www.linkedin.com/company/18394064/admin/ Thanks for listening to the show and please keep your guest suggestions coming!

Play audio-only episode | Play video episode Click above to play either the audio-only episode or video episode in a new window. We welcome Dr. David Hillson to look at project risk management for business leaders and project leaders through the metaphor of a risk hurricane, which David introduced in his book Taming the Risk Hurricane. Risk management has become a standard part of the strategic tool kit, providing senior leaders with a forward-looking radar to scan the future and give early warnings of approaching threats and opportunities. However, even best-in-class organizations can falter in the face of extreme risk exposure. Special circumstances demand special responses, and extreme risk exposure needs very careful handling. Routine risk management approaches will fall short, but businesses that demonstrate a high degree of flexibility and resilience will have the competitive advantage and the ability to thrive where others fail.

In this episode, Val ventures in Han Solo fashion discussing the best value performance metrics approaches with Rich Plumery. Rich provides a non-linear and diverse background with which he credits his understanding of what works on projects. Rich discusses his findings and summation of the Project Controls 10 commandments Thou shall: 1) Eliminate systemic risks within the organization 2) Provide an unbiased objective view (verify ) 3) Focus more on critical risks and report on them more frequently 4) Keep risk management active and aware throughout the execution 5) Be where the work is more than where your desk is 6) Manage and report change rigorously and rapidly 7) More about analytical analysis than information production 8) Analyze trends and use leading indicators 9) Look forward with good planning and backward by using solid historical knowledge 10) Provide the best value by doing the other Nine Commandments (build credibility in our craft) You can also see further work here- https://www.linkedin.com/pulse/project-controls-ten-commandments-rich-plumery-pmp-evp/ Rich Plumery is an international speaker, published author and subject matter expert on project delivery and performance management. Rich is a Technical Board Director for the Association for the Advancement of Cost Engineering (AACE) International, which sets the guidelines for many of our industry practices. Rich has unique experiences outside the industry as he started and sold several businesses including a tactical supply business and sports performance coaching business teaching speed, power, agility and balance. This business coached hundreds of professional athletes and prepared over 200 college athletes for the NFL Combine. He also runs a foundation to support developmentally challenged adults in the local community. He has learned to apply many of the learnings from these unique experiences to capital project industry management and leadership. Rich has been with AECOM legacy companies since the late 80's and his expertise covers every aspect of project delivery including risk management, planning, scheduling, cost control, change management, budgeting, engineering, design, construction, construction management, operations, contracts, finance, estimating, and performance management. This has led Rich to be innovative in creating approaches to overcome some of the industry's toughest challenges such as the conundrum of Earned Value false reads and manipulation vulnerabilities. Rich's Best Value Performance Management system was revealed in his seminal Best Value paper in 2013 published by AACE International. His current Palms Up approach to project and operational leadership is another game changer for project-based industries and beyond. Rich is currently the Senior Vice President of AECOM's Project Delivery & Controls group for all the Americas regions. In his current role he is responsible for supporting project delivery (Project Management, Project Controls, Procurement, Quality, and Project Risk Management) for over 30,00 projects in the Americas and teaching and certifying over 7,000 Project Managers globally. Proudly sponsored by: JustDo - https://www.justdo.com/ InEight - https://ineight.com/ --- Send in a voice message: https://anchor.fm/project-chatter-podcast/message

Every March since 1987, Congress and U.S. Presidents have designated March as Women's History Month. This year, The Crude Life celebrates and honors their accomplishments and contributions in history with interviews and stories that center around women's experiences in industry.The Crude Life believes woman are vital in energy. Today more [...]

The podcast by project managers for project managers. For project managers who are ready to up their game with risk management, Prasad Kodukula clarifies Next-Generation Project Risk Management and talks us through six specific risk response tools that will help you manage risks more effectively. Table of Contents 02:03 … Meet Prasad03:19 … Next Generation Project Risk Management09:12 … Tool 1: Ambiguity Risks12:49 … Tool 2: Emergent Risks14:07 … Dealing with Unknown Unknowns18:40 … Tool 3: Opportunities23:07 … Tool 4: Integration of Cost and Schedule Risks24:34 … Communicating Risks to Upper Management28:59 … Tool 5: Adaptive Technique – Iterative and Incremental methods32:02 … Tool 6: Risk Response Strategies35:14 … Get in Touch with Prasad35:44 … Closing Prasad Kodukula:  We've got to break down those silos so that we can communicate more freely, more quickly across different functions because when we are talking about resiliency, we want to make sure that we could put together a cross-functional team very quickly that could work cohesively together. WENDY GROUNDS:  Welcome to Manage This, the podcast by project managers for project managers.  Listeners you can still claim your free PDUs.  The steps to submit a PDU for our podcast, as well as for our InSite courses to PMI, has changed.  Our PDU claim page has been updated with the new instructions.  Make sure not to use the autofill, but type in “Velociteach” and the title when you are submitting your PDUs.  We do apologize for the inconvenience. I am Wendy Grounds, and with me is Bill Yates.  Bill, today we're talking with Prasad Kodukula.  He is a PMI Fellow, a PMI advisor, thought leader, coach, author, and entrepreneur with more than 35 years of experience. BILL YATES:  Yeah, I think people will quickly figure out Prasad is an overachiever. WENDY GROUNDS:  Absolutely. BILL YATES:  He's taken three big awards with PMI:  the 2010 Distinguished Contribution Award, the 2016 Eric Jenett Project Management Excellence Award, the 2020 PMI Fellow Award.  So this guy is very well decorated. WENDY GROUNDS:  He is also a self-proclaimed global ambassador of project management.  He's spoken on project management and innovation leadership in nearly 50 countries, and I enjoy talking to him about South Africa.  He goes there quite often.  Unfortunately, with COVID, he hasn't been able to get there. BILL YATES:  Yes. WENDY GROUNDS:  But we were able to talk a little bit about South Africa, which was really cool. BILL YATES:  Talk about home. WENDY GROUNDS:  Yeah. BILL YATES:  Yeah.  So Prasad is going to talk with us today about one of the topics that's of keen interest to him and certainly to us.  He's going to look at risk management and describe six next-generation tools for risk management. WENDY GROUNDS:  Prasad.  Thank you so much for joining us. PRASAD KODUKULA:  Hello, Wendy.  Thank you for having me. Meet Prasad WENDY GROUNDS:  Prasad, with a Ph.D. in Environmental Engineering, you obviously did not set out in your career intending to become a project manager.  How did you discover that this was the path for you? PRASAD KODUKULA:  Well, that's an interesting question.  You are right, Wendy.  I did not start to make a project manager in my career.  And it happens with a lot of people.  It happened to me by accident.  So I call myself an “accidental project manager.”  So I started as an R&D engineer, and within two or three years they asked me to manage projects.  I didn't know anything about it.  I said sure.  Sounded like a pretty good idea, sounded like a nice title to have, so I became a project manager by sheer accident. BILL YATES:  That's hilarious because, you know, you think, okay, here's Prasad, an accidental project manager, which you've won three amazing awards with PMI.  You're a PMI Fellow, which is really the feather on the top of the cap.  That's an amazing award.

The podcast by project managers for project managers. For project managers who are ready to up their game with risk management, Prasad Kodukula clarifies Next-Generation Project Risk Management and talks us through six specific risk response tools that will help you manage risks more effectively. Table of Contents 02:03 … Meet Prasad03:19 … Next Generation […] The post Episode 123 – Next-Generation Project Risk Management appeared first on PMP Certification Exam Prep & Training - Velociteach.

In this episode, Dale & Val talk to Michael Lepage & Nate St. John about "How Technology is driving Next-Gen Project Risk Management". Are we ready for advanced technology? Do we have the capabilities, appetite and behaviours to take full advantage of tech? Find this out and more as we explore what is possible in this episode...Michael Lepage:Michael is the Chief Learning Officer and founder of Plan Academy, an online training provider for construction & engineering companies. He’s been a project controls trainer & consultant for the last 14 years and has taught 1000s of students how to use the popular Primavera P6 project management software package.Michael loves to train, lead live events & record training videos. When he isn’t recording video tutorials or looking for lag in a Primavera P6 schedule, he’s probably chasing after his 2 sons or strumming his guitar. Contact Michael at PlanAcademy.comProject Chatter Exclusive: get $75 off any course by heading to https://www.planacademy.com/chatterNate St. John:Nate began his construction journey working as a general laborer. After some time spent learning the trades, he went on to study Landscape Architecture and Construction Management. He later became a Construction Manager for a large Owner, overseeing capital improvement projects. He was then recruited by one of the largest Construction and Engineering firms in North America, where he sat on the corporate steering committee for planning and scheduling. Nate has first-hand experience with: pre-planning, baseline development, progress and execution, and closeout. He has worked on programs ranging from $2M to $6B dollars. He later became a trusted internal advisor for all-things-scheduling, in particular conducting forensic analysis and providing guidance during project claims.Nate was brought over to InEight by Dr. Dan Patterson, where they co-facilitated Risk Workshops. He is currently the Head of Product for Planning, Scheduling, and Risk at InEight. Contact Nate at Nate.StJohn@ineight.com#PAYITFORWARDJoin us today at https://www.projectchatterpodcast.com/ for access to bonus content!Don't forget to buy some Project Chatter merch in our Charity Shop, where all profits are donated to our charity partners.This podcast sponsored by:JustDo.comPlanAcademy.comget $75 off any course by heading to https://www.planacademy.com/chatterOur socials:Twitter | Facebook | Instagram | LinkedIn | YouTube

In this episode, Dale & Val talk to Dr. David Hulett about the Journey Map to a more mature Schedule Risk Analysis Process. This episode is in collaboration with the Project Controls Expo where Dr. Hulett will be speaking at the UK event.Dr David Hulett takes us through the 6 levels of maturity and provides some fascinating insights from his experiences over the decades. If you're slightly interested in Project Risk Management then this is definitely for you!Dr. David Hulett bio:Dr. David Hulett is recognized as a leader in developing concepts and methods for quantitative project cost and schedule risk analysis and applying them on large commercial and government projects. He has conducted many project risk analyses and has developed and presented training courses focusing on quantifying the risks and their implications for project cost and schedule results. He works with companies developing the most modern sophisticated, powerful, and fast software for schedule and integrated cost-schedule risk analysis using Monte Carlo methods. He has performed many schedule assessments benchmarking schedules against GAO’s Scheduling Guide best practices.Dr. Hulett was admitted as a Fellow of the Association for the Advancement of Cost Engineering (AACE) International in 2015. He received the Brian D. Dunfield Educational Service Award from AACE in 2018.Register at Project Controls Expo to see Dr. Hulett speak live!#PAYITFORWARDJoin us today at https://www.projectchatterpodcast.com/ for access to bonus content!Don't forget to buy some Project Chatter merch in our Charity Shop, where all profits are donated to our charity partners. This podcast sponsored by:JustDo.comPlanAcademy.com get $75 off any course by heading to https://www.planacademy.com/chatterOur socials:Twitter | Facebook | Instagram | LinkedIn | YouTube

Christian Smart joined me on the Acquisition Talk podcast to discuss his new book, Solving for Project Risk Management. He is the chief scientist at Galorath Federal, and before that he was the cost chief at the Missile Defense Agency. We touch on a number of important issues, including: - Whether Augustine's Laws still have relevance - The track record of NASA's better, faster, cheaper program - How to do cost estimates on data projects like AI/ML - Whether the DoD is trying to jam too many programs into the budget - The effect of MDA's matrixed organizational design In his book, Christian talked about a prevailing belief in the 2000s that the Department of Defense could benefit from a "free lunch" when it funded to portfolios of projects. Similar to how diversification between uncorrelated assets gives investors the chance to get the same return with lower risk (or a higher return for the same risk), funding a group of projects at the 60th percentile cost estimate could achieve an 80 percent confidence level for the portfolio overall. Christian argues that projects have asymmetric probability distributions for cost and schedule. You are more likely to see black swans in the cost growth direction than you are in cost savings. When more projects are put under a portfolio, the likelihood that one of them will have relatively extreme cost growth increases. We discuss the implications of this result, and what procedures managers can take to mitigate or even remedy the effects. This podcast was produced by Eric Lofgren. Soundtrack by urmymuse: "reflections of u". You can follow us on Twitter @AcqTalk and find more information at AcquisitionTalk.com.

Project Risk Management by Ashraf Ali

In this episode of the corporate lounge session Mr. Vivek Sonar, PMP, RMP, an Industry experts and risk management practitioners to share views and exchange opinions on risk management topic.

80% of Project Management is risk management.

Learn best practices as well as, how to proactively manage projects by planning how your team will manage project threats.

Play Now: Dr. David Hillson Definitions are a useful starting point, but what do you really think when you hear the word risk? How does it make you feel? What about related words like "uncertainty," "threat" or "opportunity"? Building on established neurolinguistic theories of word/image association, this session will explore underlying tensions in the way practitioners think and feel about risk. Discover the surprising truth, and compare yourself with your peers. And of course, this episode is relevant to risk management in agile projects as well, just in case you were wondering. This interview with Dr. David Hillson was recorded at the PMI® Global Conference 2019 in Philadelphia, Pennsylvania, USA. We discuss his research and insights into what you truly think about when you hear the words "risk" and "opportunity" using the Bouba/Kiki Effect. This is the kind of information you won't find in the Practice Standard for Project Risk Management but it's so useful when thinking and talking about risk with project stakeholders. You will see and understand why it's hard to include opportunities in an integrated risk management process and discover your own underlying perceptions of risk, and the implications for your risk management behavior. The insights will change how you think about risk management critical success factors. Enjoy the episode!

Do you know what certifications in project risk management are available? Are you interested to know how you can become a certified risk management professional? Listen to this podcast to learn which certification(s) you can pursue in project risk management and what the eligibility requirements for each certification is. Get the full video training, summary, transcript, podcast link, mp3 download, shareable quotes, and other posts related to this episode and topic at https://www.projectcontrolacademy.com/certifications-project-risk-management/ 

Risk management is a key step in maintaining our profitable construction business. Risk management is reviewing and planning for the what-ifs. RM should be considered in each phase of a project from selecting to closeout. Risk Management is about analysis and planning. Be prepared for the important what-ifs.

Notes and Podcast info from the PMlessonsLearned.com Conference Call:Topic: PMLL Project Risk Management - Part 2, PMBOK 5e (PMPExamPrep)PMlessonsLearned.com founder and PM Best Practices host: Henry Will, PMPPMlessonsLearned.com PMPExamPrep host: Dana Safford, PMPPresenter: Dana Safford, PMPDate of Conference Call: 04Dec2014Podcast Number: 0168MP3 / Podcast: Download the MP3 or Listen on Internet Archiveor subscribe to our podcast on iTunes.If you're studying for the PMP Exam, you may want to listen to the MP3s of past PMP Exam Study Group conference calls. They're located in our Archive (see the link on our website).PRESENTATION:Prior to the call, the presentation will appear on the PM Lessons Learned group in Yahoo Groups (note: it may not be posted until just before the call). The directions to obtain the presentation are at PMlessonsLearned.com - on the left hand side of the webpage follow the link titled "Files and Presentations" to see directions for obtaining the presentation.NOTES FROM THE CALL:On July 31st 2013, the Fifth Edition of the Guide to the Project Management Body of Knowledge, also called the PMBOK Guide, became the basis for the Project Management Professional or PMP exam. This month’s PMP Study Group call continues the deep-dive into the PMBOK Fifth Edition or 5e. In this session, we will begin the focus on the Project Risk Management knowledge area, as we look at the last three processes that belong to the Project Risk Management knowledge area as laid out in the Fifth edition. Dana Safford, PMP, will provide insight and practical examples of everything you need to know to build your critical knowledge mass and pass the PMP exam on the first attempt.====================================Please join us for a future conference call (they're all free and open to all). We currently have several calls a month. See our calendar of future calls via the link on our website.If you're looking for a PM job, we invite you to join our FREE PM JOB SHOP conference calls.Join the Yahoo Group here: http://groups.yahoo.com/group/pmjobshopWe highly recommend that you join the free PM Lessons Learned Yahoo group in order to get announcements of our calls and other information to further your PM career.http://groups.yahoo.com/group/pmLessonsLearnedJoin our Yahoo group for details, reminders of the calls, and information to help you in your PM Career. Visit the website for details.PMlessonsLearned.com - Project Managers helping Project Managers make a difference. Open to all.Visit us at pmlessonslearned.com

Notes and Podcast info from the PMlessonsLearned.com Conference Call:Topic: PMLL Project Risk Management - Part 1, PMBOK 5e (PMPExamPrep)PMlessonsLearned.com founder and PM Best Practices host: Henry Will, PMPPMlessonsLearned.com PMPExamPrep host: Dana Safford, PMPPresenter: Dana Safford, PMPDate of Conference Call: 04Dec2014Podcast Number: 0167MP3 / Podcast: Download the MP3 or Listen on InternetArchive or subscribe to our podcast on iTunes.If you're studying for the PMP Exam, you may want to listen to the MP3s of past PMP Exam Study Group conference calls. They're located in our Archive (see the link on our website).PRESENTATION:Prior to the call, the presentation will appear on the PM Lessons Learned group in Yahoo Groups (note: it may not be posted until just before the call). The directions to obtain the presentation are at PMlessonsLearned.com - on the left hand side of the webpage follow the link titled "Files and Presentations" to see directions for obtaining the presentation.NOTES FROM THE CALL:On July 31st 2013, the Fifth Edition of the Guide to the Project Management Body of Knowledge, also called the PMBOK Guide, became the basis for the Project Management Professional or PMP exam. This month’s PMP Study Group call continues the deep-dive into the PMBOK Fifth Edition or 5e. In this session, we will begin the focus on the Project Risk Management knowledge area, as we look at the first three processes that belong to the Project Risk Management knowledge area as laid out in the Fifth edition. Dana Safford, PMP, will provide insight and practical examples of everything you need to know to build your critical knowledge mass and pass the PMP exam on the first attempt.====================================Please join us for a future conference call (they're all free and open to all). We currently have several calls a month. See our calendar of future calls via the link on our website.If you're looking for a PM job, we invite you to join our FREE PM JOB SHOP conference calls.Join the Yahoo Group here: http://groups.yahoo.com/group/pmjobshopWe highly recommend that you join the free PM Lessons Learned Yahoo group in order to get announcements of our calls and other information to further your PM career.http://groups.yahoo.com/group/pmLessonsLearnedJoin our Yahoo group for details, reminders of the calls, and information to help you in your PM Career. Visit the website for details.PMlessonsLearned.com - Project Managers helping Project Managers make a difference. Open to all.Visit us at pmlessonslearned.com

From the Management news series: academics from Southampton deliver a week long programme to French business students, and why Southampton academics are considered European specialists in Project Risk Management; and find out more about the new links and exchange opportunities underway with the Ecole de Management, Le Havre.