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Risk Management - Session Chair Paul Davies
The aim of this session is to examine what Risk Management means to different practitioners. Is there a difference between perception of risk by a customer and a supplier? By a Systems Engineer, a Project Manager or an Accountant? Does the optimum risk mitigation strategy depend on your point of view?
Why is Risk always Someone Elses Problem, or just goes unacknowledged? What barriers are there to introduction of a Risk Management process, and can we overcome them?
13:30 Risk 101 - How to Use Risk Management to leverage Systems Engineering into a Project -
Paul Davies, Thales
We start with a lightning overview of best practice texts, and look at typical examples from a working project. Some rules of thumb for turning technical risk identification ("what might go wrong?") into financial terms are expounded. The concepts of pre- and post-mitigation risk are presented, along with the key assessment of return on investment of risk mitigation activities. The links with Project Planning and accounting follow, and finally we look at the introduction of change towards team ownership of the risk management process.
13:55 Design Spirals in Aircraft Design - Risk Mitigation against Mismatches in Requirements and Lowering Development Costs -
Carren Holden (BAE Systems)
This presentation addresses the issue of how design spirals help to avoid so called "crunch time", when building a complicated platform such as an aircraft. "Crunch time" is when the unexpected happens during a design, such as discovering that the fuel tank volume is too small to hold the fuel required for the various missions. Opportunities provided by the design spiral will be explored, for progressive and efficient optimisations over ever more refined trade-space opportunities.
14:20
Risk Management Applied to Mega Projects
Derek Price
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Parsons Brinkerhoff Ltd.
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his Presentation will focus on Project Risk Management applied to Mega Projects. A snapshot of application of project risk management to a large construction project; a Major Airport expansion; UK Rail projects; and small projects
State of the art in infrastructure business:
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Use of Quantified Risk Assessment to determine variance in costs & schedule
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Tool usage
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Relationship with other project issues (Value Management, Systems Engineering, information risk management)
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A view on how well this is applied in reality
Key Issues:
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What makes a good risk management system?
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Are project organisations designed to deal with risk well?
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Is the infrastructure world any different to defence & aerospace?
14.45 Refreshment break
15:10 The Judge, the Social Worker and the Policeman - How the MoD governs Interoperability risks -
Gordon Woods (MOD-DPA)
Ensuring the interoperability, or at least reducing the risk of integration, of complex MoD Systems is a challenging task.
Projects have to balance their own costs and programme against possible delays to in-service dates due to protracted integration issues. One of the initiatives undertaken by the Integration Authority has been the formation of the Interoperability and Compliance Assurance (IOCA) team who work with projects to achieve a sagacious outcome.
The effectiveness of a twin approach of Interoperability Assurance and Compliance Assurance, and how it can be applied to other industry sectors will be demonstrated. Examples will be given of real issues and problems, together with the mechanisms by which these have been managed and resolved.
15:35 Requirements, Risk, Project Duration and Acquisition Approaches (Pure Off the Shelf, COTS, Bespoke and Collaborative-Bespoke) -
Duncan Kemp (MOD-DDSA)
This presentation will discuss the following:-
- Integration, performance, cost and time
- Delivering capability through equipment and non-equipment approaches
After outlining the basic issues, Duncan will lead an interactive session looking at:-
- The impact on defence acquisition
- The impact on individual companies
- The implications for systems engineering and systems engineers
16:25 Floor Debate
- Employer attitudes to acknowledgement and active management of Risk.
- Analyse barriers to implementation.
- Can we produce a simple guide to the benefits of Risk Management for the practising Engineer?
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