Applying RM in ongoing Projects by Simone Hoferer

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About the Lecture

The lecture Applying RM in ongoing Projects by Simone Hoferer is from the course Risk Management (RM): Project Stage. It contains the following chapters:

  • Objectives
  • Risk management process
  • Measurability of success
  • Risk management during quoting stage
  • The key method
  • Project parties
  • Risk categories
  • SMART

Included Quiz Questions

  1. Definition/offer, planning/engineering, production/sourcing, transport/logistics, installation/launching, delivery/handover, warranty
  2. Definition/offer, planning/engineering, production/sourcing, transport/logistics, installation/launching, communication, warranty
  3. Definition/offer, planning/engineering, production/sourcing, warranty, transport/logistics, contract, delivery/handover
  4. Definition/offer, planning/engineering, production/sourcing, transport/logistics, installation/launching, warranty
  1. It is important to prepare in advance.
  2. You have to look out for dangers as well as chances.
  3. You need to put your route into practice.
  4. You should identify your friends and foes.
  5. It is like a hobby and should be treated that way.
  1. Because the „What would have happened, if…“ is often very hard to grasp.
  2. Because in reality the success of a project in total is the only indicator whether all measures and actions combined worked out well or not.
  3. If you do a proper controlling, it is fairly easy to measure the success or failure of risk management.
  4. Because the success depends only on the risk manager.
  1. To capture and pin point the potential project as precise as possible
  2. To identify risks & opportunities, asses them and incorporate them into the quote
  3. To enable best possible offer in order to get the assignment and to be able to pick the right projects
  4. To follow through the risk management process as precisely as possible
  1. To ask the right questions, e.g. the 7 W-method
  2. To find the right answers, e.g. the triple A method
  3. To coordinate and to communicate risks
  4. To use as minimum resources as possible
  1. Company, country, customer, supplier and project
  2. Corporation, country, customer, supplier and project
  3. Company, country, customer, supplier and project manager
  4. Company, country, customs, supplier and project
  1. S = Specific, M = Measurable, A = Acceptable & Adequate, R = Realistic and T = Time-phased.
  2. S = Special, M = Measurable, A = Acceptable & Adequate, R = Realistic and T = Time-phased.
  3. S = Specific, M = Measurable, A = Acceptable & Adequate, R = Realistic and T = Tough
  4. S = Specific, M = Memorable, A = Acceptable & Adequate, R = Realistic and T = Time-phased.
  1. Use easy to understand language and be clear, specific and distinct.
  2. Phrase as short as possible and as detailed as necessary.
  3. Be complete and add explanatory drawings, pictures etc.
  4. Be legally and ethically correct and fair.
  5. Be idealistic with dates and costs.

Author of lecture Applying RM in ongoing Projects

 Simone Hoferer

Simone Hoferer


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Excerpts from the accompanying material

... Objective of chapter 3: To familiarize with the various ...

... engineering 3. production/sourcing, 6. delivery/handover, 1. definition/offer, 7. ...

... Management Process 40 Graphic 5: Simone Hoferer 04/2013 based on Roland Wanner ...

... Assessment: identification friend or foe? Action planning: working out of alternatives. Navigate & control: ...

... happend, if…“ is often very hard to grasp. Added value for the project due to RM in proportion to effort hard to quantify ...

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