From power producers and financiers to engineers, constructors and operators, the risks that project participants face in developing and building new power projects are increasingly multifaceted and complex. Project cost and schedule volatility created by global sourcing of equipment, local construction productivity, new technology and regulations are among the risks that project participants need to cope with when developing and executing new projects. Financial instruments and insurance policies are widely utilized in the industry to control and hedge risks. However, project managers that want to control their risk exposure more effectively need to address project specific risks that financial instruments cannot hedge. These risks are treated most effectively when identified and assessed in a timely manner.
This seminar will provide attendees with an understanding of project risk management concepts and a typical process that can be implemented during the planning and execution of power projects. A rigorously managed project risk program can tremendously improve the efficiency and effectiveness of a project management organization.
The first part of the seminar will be an introduction to the planning of a project risk management program in the power industry. The second part will walk the attendees through a five step project risk management process. Each step will be explained by referencing a case study.
The purpose of the seminar is to introduce the attendees to project risk management concepts and processes that can be used to identify, assess and treat systemic and project specific risks. Armed with this knowledge, the attendees can participate in risk assessment interviews and workshops more effectively.
