Project Progress
Running Head: RISK WORKSHOP AND RISK REGISTER 1
RISK WORKSHOP AND RISK REGISTER 4
Risk Workshop and Risk Register
Risk Workshop and Risk Register
Pre-workshop activities
The activities that will be carried out before the worship will include coming up with a workshop manual and agenda, and securing the workshop venue. Also, selection the project stakeholders who will participate in the workshop, setting workshop rules, and organizing the travel and food arrangement for the participants among other crucial activities will be necessary.
Risk Workshop Agenda
The two-day risk management workshop will comprehensively and practically introduce the participants to the core competencies, principles, concepts and the process of applying risk management in the construction or development projects in a given environment such as the ones carried out in Siwa Oasis by Environmental Quality International. The workshop will follow the risk management plan developed and implemented under the leadership of the project manager.
The workshop will cover several areas. Among them are the tools and techniques to prepare the Scope and Objectives of the Risk Management Process, determining the project size based on the facts, and justification for their project decisions based on the Project Sizing Tool provided. Also, the participants will have the opportunity to learn about the different risk tools and techniques for use in the Risk Management Plan for both the qualitative and quantitative aspects of the project. Other areas that the participants will be exposed to during the workshop include the development of the Risk Reviews and Reporting for the Risk Management Plan based on the determined project size, an overview of the Probability and Impacts section of the Risk Management Plan, and defining the Risk Thresholds.
All participants in the two-day event will be given opportunities to apply practically the tools and techniques learned in the workshop to the actual construction projects, which in this case will be in the Siwa oasis, with the aim of minimizing risks and maximizing opportunities during throughout the project life cycle. The objective of the workshop is to provide an understanding and appreciation of the risk management framework by providing participants with techniques and tools necessary in their addressing their respective responsibilities as well as tackling any associated risks in the course of their work. Upon completing the workshop, participants will have the opportunity to participate actively in or lead project teams through various risk management processes with the help of the tool box that will be provided to them after the workshop.
The format and methodology for delivering the workshop will include lectures, class discussions, individual and group case studies, and exercises. Topics covered include analysis of critical success factors, project risks, and the Scope and Objectives of the Risk Management Process. Also, determining the project size, risk tools, and techniques, developing Risk Reviews and Reporting, risk tools and techniques, Risk Probability and Impact, Risk Threshold, and many others. All these will aim at helping the participants in understanding and developing risk management skills, and more importantly, apply the same in projects in the environment.
The delivery time frame for the workshop will be two days. The first day covers the introduction, risk management, confirming the project objectives to the participants, the scope of the risk process, workshop ground rules, risks management briefing, expectations and results, risk identification, rationalizing risks, risk description using metalanguage and recording identified risks. The second day will cover the explanation of the assessment scheme, assessment of probability and impacts, risk categorization, nomination of risk owners, developing initial responses to priority risks and closing the workshop. The two days will be divided into two sessions each, morning and evening.
Different persons qualify to attend the workshop including the new and intermediate Project Managers and project team members as well as any persons involved in the design, consultancy and implementation of construction projects and is interested in learning more about principles and techniques of risk management. That way, the participants will be exposed to first-hand tools for reducing project surprises and meeting project expectations. The following is the detailed outline of the workshop.
1. Introduction
The introductory session for the workshop will aim at helping participants significantly to consider risk management in different dimensions and the understanding of the same. The following topics will be:
· Critical success factors
· Project risks
· Scope and Objectives of the Risk Management Process
· Determining project size
· Risk tools and techniques
· Risk Reviews and Reporting
· Risk Probability and Impact
· Risk Threshold
· Risk planning and mitigation strategies
· Risk communication
2. Confirm project objectives
The session will focus on objectives for the EQI in Siwa project risk management process with the aim of helping the participants understand how the foreseeable project risks of all types will be managed in a prop-active, appropriate and efficient manner possible. The primary objective will be ensuring the project attains the set objectives as well as maintain an acceptable level of risk exposure. Another objective will be how all the project stakeholders will be engaged in in the project lifecycle and in an appropriate manner critical in creating ownership and buy-in to the project including the community around Siwa as well as necessitating risk management actions. Also, the information about the project risk management will be communicated to the stakeholders at an ideal time to allow for any modifications if any. That will aim at aiding the project stakeholders some of who will be participants in the workshop only to focus on essential thematic project areas at risk so that they can identify the potential risks with a negative impact on the full implementation of the project as scheduled.
3. Confirm scope of risk Process
The scope of risk process will cover the likely challenges in EQI’s efforts in illustrating and elaborating the critical ways for reducing poverty by capitalizing on local culture and safeguarding the environment in the oasis area of Siwa. The area comprises of old-fashioned swathe of olive and palm trees, natural springs and salt lakes surrounded by the sands of the Sahara and a vast population of 20,000 to 30,000 people. That will mean the project will entirely revolve around how best to preserve the local culture, heritage, and landscape in Siwa and at large the rebuilding of old towns of Siwa as a way of promoting local heritage (Norman, 2012).
Another area of focus will be challenges that will come with restoring a fading craft-art from local reminiscence and creation of jobs for the local women in different parts of the world including Siwa, Egypt, Italy, France, and England in the efforts to ensuring a preservation of the economy (Norman, 2012).
4. Workshop ground rules
5. Risk management briefing
6. Expectations and results
At the completion of this two-day workshop, it is expected that the participants will gain the necessary confidence in handling and managing risks in the project without necessarily considering the size or complexity. That will be essential in helping the participants in developing a detailed risk management plan to guide risk management activities, developing a complete and accurate risk register, qualifying and quantifying project risks, and preparing risk response strategies critical in controlling the risks and maximizing the opportunities. Also, at the completion of the workshop, the participants will each be given a risk management toolbox containing several checklists, forms, graphs, and other critical elements that can be used in extensively by the participants thus giving them enough practice in carrying out their duties.
7. Risk identification
In reading the EQI in Siwa case study, the project is exposed to significant vulnerabilities. The first vulnerability is the high price for of local expertise and materials beyond what the local population can afford, which means that ‘outsiders’ who will be associated with the construction and development activities in Siwa Oasis will be the ones to benefit from the traditional local techniques, art, and materials. That is because the modern construction methods that will be used in EQI’s project will not be that economical to help the locals in improving their homes (Story, 2009). Another likely risk in the Siwa case study is likely to come from the introduction of indoor bathrooms and the digging of several wells in the new buildings. Thar will, in turn, affect the supply of water as there will be more buildings to be provided hence scarcity of the resource in the region (Hillson, 2007). The third risk final risk that the EQI project in Siwa is exposed to is the rising levels of urbanization in Egypt, which in turn, will increase the urge demand for the use of technology and innovation in various aspects of the society especially transportation for ease of access.
8. Rationalizing risks
9. Risk description using metalanguage
10. Recording identified risks
11. Explanation of the assessment scheme
12. Assessment of probability and impacts
13. Risk categorization
14. Nomination of risk owners
15. Developing initial responses to priority risks
16. Closing the workshop
Top five (5) threats in a risk register
The following is a discussion of the top threats or risk in the register. The first risks are the fact that the higher prices are caused by external factors, which are that the select few will directly benefit from the project as they will have the financial muscle to do than compared to a majority locals with no such capability to participate in the project. That will, in turn, affect the project goals and objectives which are to uplift the local community in Siwa economically and Egypt as a country. Therefore, the risk management process for this project will focus on both external and internal risk facing the project. The second top threat is risks emanating from the introduction of indoor bathrooms and the digging of several wells in all the new structures as that is likely to strain the water supply in the entire locality. That will result in a scarcity of the much-needed resources, risking the successful completion of the risk (Hillson, 2007).
The third threat in the risk register is as a result of the external risk following Egypt’s experiencing rising levels of urbanization in the country leading to increased usage of the modern means of transport. That will necessitate the project including elements of infrastructural development more so roads and then go ahead to train the locals who are part of the project on the need to adjust to the new means of transport (Zwilling, 2014). That is because if the old structures in the area are built, then they will serve as tourist attraction centers which will prompt people from different parts to the world to visit and the process, tourism will be only beneficial to the fullest following efficient management of the restoration of the cultural and traditional identity of Siwa.
The fourth threat will be how to handle the gender disparity issues that are likely to feature following the decision for EQI to only improve the economic well-being of the women and not the males. Thai sin because the project will have to include both genders for it to implement successfully since the males are likely to revolt and even restrict their daughters or wives from participating in the project following the influence males play in the decision-making of the society in Egypt. The fifth risk would be how to handle and coordinate such a huge team working on the project as well as managing project activities. Leading the project will be a huge challenge since it entails various players including the professionals, Environmental Quality International (EQI), the local community, the Government of Egypt among other essential players.
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1. Technical Risk |
- Estimates, assumptions, and constraints - Safety - Security Technology |
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Project Risk |
2. Management Risk |
- Project management - Operations management - Organization - Resourcing |
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3. Commercial Risks |
- Client/customer stability - Suppliers and vendors - Partnerships and joint ventures |
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4. External Risks |
- Social/demographic - Political - Country - Pressure groups |
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Internal Risks |
-Project team composition -Conflicts -Skills or capability
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Top 3 opportunities in risk register
The likelihood of the mentioned risks under risk identification session occurring presents an opportunity for the project team and manager to consider efficiently managing the restoration of the cultural and traditional identity of Siwa as well as promoting tourism in the locality. That will ensure the attainment of the desired organization objectives, which can be as a result of exercising control over scarce resources. That would call for a higher degree of assistance from various organizations thus influencing a rise in the project success.
Also, there is an opportunity for the project team making use of various team conflict resolution mechanisms now that the participants and stakeholders in the project will be many, a development that gives room for frequent conflicts due to the different parties shifting goalposts so that their interest are entirely met before the implantation of the project. The third opportunity is a negotiation, and business partnership between EQI and the different players for the purpose of ensuring the project is efficiently implemented. That is because such a massive project can only succeed following certain forms of partnership such as ventures or mergers among different players.
Assignment of probability and impacts on Threats
The following is the probability and impact scale for the EQI project in Siwa;
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Risk |
probability |
Impact on project objectives |
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Impact |
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Justification |
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High prices |
71-99% |
Very significant |
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affect the project goals and objectives which are to uplift the local community in Siwa economically |
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the introduction of indoor bathrooms and the digging of several wells |
51-70% |
Significant impact |
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It will strain the water supply in the entire locality thus resulting in scarcity of the much-needed resources |
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rising levels of urbanization |
31-50% |
Impact on certain functional areas |
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increased usage of the modern technology and innovation |
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gender disparity |
11-30% |
Minor impacts on functional areas |
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There will be scramble for opportunities by both genders to get economic empowerment |
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handle and coordinate project |
1-10% <1% |
No significant impact on overall functionality |
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All stakesholders will be part of the project |
Assignment of probability and impacts for each opportunity
Efficient management of the restoration of the cultural and traditional identity of is essential in ensuring the attainment of the desired organization objectives, which can be as a result of exercising control over scarce resources given the support from different organizations thus influencing a rise in the project success. The conflict resolution mechanisms will help in ensuring a peaceful coexistence of the various project stakeholders hence the implementation of the project with any opposition. Finally, business partnerships will help the different project stakeholders or players to know each other’s’ specialty thus forging a stronger partnership that will be critical in implementing the project.
References
Hillson, D., & Simon, P., (2007). Practical Project Risk Management. The ATOM Methodology. Management Concepts Publishing.
Norman M., (2012), “Integrating Business Planning, Performance Management, and Risk Management”. Retrieved from: http://normanmarks.wordpress.com/2012/01/16/integrated-epm/
Pacetti, M., & International Conference on Urban Regeneration and Sustainability. (2012). The sustainable city VII: Urban regeneration and sustainability. Southampton: WIT.
Story, J. (2009). Environmental Quality International in Siwa. INSEAD-Rensselaer.
Zwilling M., (2014). “The Seven Critical Success Factors for the Services Business.” Retrieved from, http://www.entrepreneur.com/article/235001