A PMI Lakeshore Chapter Dinner/Presentation

After-dinner presentation on the Risk Breakdown Structure (RBS)

Date:

Monday, November 8th, 2004

Schedule:

6:30 - 7:00 pm networking/cocktails (cash bar)

7:00 - 8:00 pm sit down dinner

8:00 - 9:00 pm presentation

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Location:

Holiday Inn Oakville (Center), 590 Argus Road, Oakville, Ontario, L6J 3J3, (905) 842-5000 (go south off of the QEW on Trafalgar Road South then turn west onto Argus Road).

Cost:

	Chapter Member	Non-Member
Pre-Registration pay by cash/cheque	$30.00	$35.00
Pre-Registration pay on-line by Visa or Mastercard	$31.50	$37.00
Registration after Deadline Date (space permiting)	$35.00	$40.00

Payment:

By Cash or Cheque: At the door, by cash or cheque made out to "PMI - Lakeshore Chapter", receipts will be provided at the event.

By Visa or MasterCard: On-line before the pre-registration deadline. No credit card payment will be accepted at the door. Receipts are issued and emailed to you at time of payment. Note: The higher costs for credit card payment are due to the per transaction costs charged to the Chapter by Visa and Mastercard.

Deadline:

Registration deadline is 5 pm on Thursday November 4th, 2004.

Register:

Registration is now closed

Program:

C193-041108

Sponsor:

Presentation Abstract

Risk identification often produces nothing more than a long list of risks, which can be hard to understand or manage. The list can be prioritised to determine which risks should be addressed first, but this does not provide any insight into the structure of risk on the project. Traditional qualitative assessment cannot indicate those areas of the project which require special attention, or expose recurring themes, concentrations of risk, or “hot-spots” of risk exposure.

The best way to deal with a large amount of data is to structure the information to aid comprehension. For risk management, this can be achieved with a Risk Breakdown Structure (RBS) – a hierarchical structuring of risks on the project.

The RBS can assist in understanding the distribution of risk on a project, aiding effective risk management. Just as the Work Breakdown Structure (WBS) has been the project manager’s greatest tool because it scopes and defines the work, so the RBS can be an invaluable aid in understanding the risks to the project. The WBS forms the basis for many aspects of the project management process; similarly the RBS can be used to structure and guide the risk management process.

This presentation presents the concept of the RBS, and gives a number of examples drawn from different project types and industries. The benefits of using the RBS are then outlined, including as an aid for risk identification or risk assessment, comparison of projects, providing a framework for cross-project risk reporting, and structuring lessons to be learned for future projects.

The Risk Breakdown Structure has the potential to become the single most valuable tool in assisting the project manager to understand and manage risks to his project. This presentation shows how to use the RBS to gain these benefits.

Speaker - Dr. David Hillson

Dr. David Hillson PMP FAPM FIRM MCMI, is an international risk management consultant, and Director of Risk Doctor & Partners (http://www.risk-doctor.com). His speciality is risk technology transfer, assisting organisations to develop in-house risk processes, and he is a popular conference speaker and author on risk, winning several awards for his papers. He is recognised internationally as a leading thinker and practitioner in risk management, and his recent emphasis has been the inclusion of proactive opportunity management within the risk process, which is the topic of his latest book "Effective opportunity management: Exploiting positive risk", published in 2003 by Dekker of New York.

David is an active member of the global Project Management Institute (PMI) and was a founder member of its Risk Management Specific Interest Group. He received the 2002 PMI Distinguished Contribution Award for his work in developing risk management over many years. He is a Fellow of the UK Association for Project Management (APM) and a Fellow of the UK Institute of Risk Management (IRM), as well as being a member of the Chartered Management Institute.