February – Karen McIsaac - Projects are Risky Business

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February 18, 2014
Agenda
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Welcome & Introduction
Congratulations to our newest Credential Holders
Welcome to newest PMI Metrolina members
State of the Chapter
Volunteer of the Month
Volunteer Opportunities
Corporate Partnership
Chapter Meeting Partner
PDU Opportunities
Upcoming Events
Speaker Presentation
Closing
Congratulations to our Newest Credential
Holders!
Amy Kolovich, PMP
Ardeshir Razmyar, PMP
Charles Asmus, PMP
Heather Pees, PMP
Jenna Ackerson, PMP
John Stone, Sr., PMP
Mike Mostaghni, PMP
Olufemi Aborisade, PMP
Peter Zelinski, PMP
Welcome to the Newest Chapter Members!
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Anand Patel
Angie Scherman
Anthony Lugo
Barbara Santamour
Beatriz Escobar, PMP
Bruce Rogers
Butch Barksdale
C GREEN
Chanell Copeland-Tootle
Charles Asmus, PMP
Chris McConville
Christie Sears, CAPM
Christopher Daniels, PMP
Christopher High, PMP
Daniel Little
Devie Dragone, PMP
Diana Register, PMP
Donald Hunley, PMP
Elle Enman
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Inas Eldewek, PMP
Jacob Ajayi, CAPM
Jessica Romero
Jessica Stager
Julie Tettmar
Kevin Malvey
Kimberly Fitzgerald, PMP
Kisha Bibb
Leanna Graf
Lesa Fox
Lisa Harwell
Mark Morton
Mary Martin
Mitchell Lebowitz
Mona Ann Carver
Nancy Daborowski, PMP
Natalie Ramirez
Paulo Marques
Presley Smith, III, PMP
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Renee Albert
Robert Dailey, PMP
Robert Rossello, PMP
Robert Wright, PMP
Sam Adams
Shawn Longfellow, PMP, PMI-RMP
Stephen Gould, PMP
Sundar Santhana
Susan Everhart
Thomas Friend
Thomas Rascon, IV, PMP
Tianti Gardner
Trista Collins, PMP
Utkarsh Ahuja
William Robinson
Yatish Vora
State of the Chapter
2013 Accomplishments
 Launched Satellite meetings
 Monday PDU email
 Updated website
 Conducted 1st ACP prep class
 Saw Membership increase to more than 1600 members
 Financially – made strides toward goal of having 1 ½ years
of reserves in the bank
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Beginning balance - $79,970.68
Ending balance - $118,257.12
State of the Chapter
2014 Goals
 Enhance meeting experience for Chapter and Satellite meetings
 Enhance member educational opportunities so that more members
can be reached and served - Saturday PDUs, PgMP prep class
 Improve student experience with PMP prep training
 Increase partner engagement and expand the partnership realm to
include other non or not-for-profit organizations
 Measure and increase member satisfaction and make recommended
changes in response when possible
 Increase volunteer participation and volunteer development
 Increase chapter financial transparency
 Restructure the BOD for 2015 via updates to the By-laws and
Chapter handbook
State of the Chapter
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The Board of Directors has recommended some changes to
the By-Laws. These changes deal with the Board of Director
positions and are at a high level:
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Terms of officers will be extended to two years and be staggered to
ensure continuity for the board.
Term limits will remain in place for all positions.
The Board of Directors will contain the following roles:
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Chapter President (Elected in odd years)
Vice President of Administration (Elected in odd years)
Vice President of Membership (Elected in odd years)
Vice President of Programs (Elected in odd years)
Vice President of Finance (Elected in even years)
Vice President of Marketing (Elected in even years)
Vice President of Professional Development (Elected in even years)
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Note: There will no longer be a VP of Communications.
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State of the Chapter
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The Board of Directors has recommended some changes
to the By-Laws. These changes generally deal with the
Board of Director positions.
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18 February
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11 March
12 March
25 March
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By-laws posted to website and
communication sent to members
21 day review ends
Vote information sent from Vote-net
Close vote at noon and notify chapter
Volunteer of the Month
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Dani Beckman, Chairperson of Prep Classes.
Role Responsibilities:
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Organize all logistics for the membership and
guests to attend the PMP Prep Classes and the
PgMP Prep Classes coming up.
Obtain materials, verify space and equipment,
attend all sessions for student continuity, and
assist instructors with any needs that arise.
Interesting thing about me.... My husband and I
are both avid hockey fans and we are season
ticket holders for the Charlotte Checkers
hockey team. We attend all the home games
and that is where I was introduced to
Northeastern University and the Masters in PM
concentration... which then led me to PMI. I
love all things project management and have
just been offered my first "real" PM role. So
hockey and PM - strange connection, but made
a huge difference in my life!
Volunteer Opportunities
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Writer/Researcher/Proofreader - Content creator,
researcher and proofreader for Monday PDU
Opportunities Email, Monthly Newsletter, website and
other special duties assigned. For more information about
this opportunity, contact John Schneider at
vpcommunications@pmi-metrolina.com
Corporate Partnership
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Networking Partners
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Web Partners
Chapter Meeting Partner
C E N T R A L
P I E D M O N T
C O M M U N I T Y
C O L L E G E
Programs and Classes
For
Project Management Professionals
www.cpcc.edu/cce
C E N T R A L
P I E D M O N T
C O M M U N I T Y
C O L L E G E
In partnership with Total Systems Education,
Ltd.
Recipient of the 2010 PMI® Continuing Professional
Education Provider of the Year Award
www.cpcc.edu/cce
C E N T R A L P I E D M O N T C O M M U N I T Y C O L L E G E
TOTAL
SYSTEMS EDUCATION, LTD.
Project Management Certificate
with Concentration
Agile ACP
Business Analysis
Business Intelligence (coming 2014)
Sustainability
for more info call 704.330.4686
or visit www.cpcc.edu/cce
REP #1270
N T R A L P I E D M O N T C O M M U N I T Y
TOTALC ESYSTEMS
EDUCATION, LTD.
C O L L E G E
Project Risk Management
7PDUs
February 25 and March 4
6pm-10pm
REP #1270
E N T R A L P I EEDUCATION,
D M O N T C O M M LTD.
U N I T Y
TOTALC SYSTEMS
C O L L E G E
Managing Agile Projects
With SCRUM
8 PDUs
March 13
8:00am-5:00pm
REP #1270
N T R A L P I E D M O N T C O M M U N I T Y
TOTALC ESYSTEMS
EDUCATION, LTD.
C O L L E G E
Sustainability in Project Management
People Profit Planet (ISO 14000)
16 PDU’s
February 26 & 27
8:00am-5:00pm
REP #1270
C E N T R A L P I E D M O N T C O M M U N I T Y C O L L E G E
TOTAL
SYSTEMS EDUCATION, LTD.
Project Management Certificate
with Concentration
Sustainability
• Green PM (24 PDU)
• LEED Green Associate Exam Prep
*Provides hours for both PMP/CAPM exam
requ
for more info call 704.330.4686
or visit www.cpcc.edu/cce REP #1270
PDU Opportunities
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Satellite Meetings
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February 20 – Concord
February 25– East Lake Norman
February 27– Hickory
February 27– Mint Hill
March 4– Southwest Charlotte
Next Chapter Meeting
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March 18
Upcoming Events
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Skill Fest at Bubble Charlotte in the Epicenter
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Professional Development Day
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September 27 (Tentative)
PMI Global Congress – North America
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March 3
June 23
August 25
October 26-28
International Project Management Day
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November 6
Speaker Presentation
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Karen McIsaac
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Whether it is merger activities, new product development, cost savings, revenue
generation, new brand, new technology (ERP) or regulatory, these scenarios all
drive change, with measurable results. Karen has represented the client's
'insurance policy' for success by providing oversight of vendors and client teams
to ensure the change objectives are met.
Projects are Risky Business – Performing the Risk Assessment
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Every undertaking of a change initiative represents risk. This presentation will
discuss Risk Management from the project AND deployment perspective.
Participants will learn how to conduct a Risk Assessment, when to conduct it
and who should be engaged in developing the assessment.
Projects Are Risky Business:
Performing the Risk Assessment
Karen McIsaac, PMP
Founder and Managing Director of The ABEO Group
Objectives
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Learn why Risk Management is essential
Understand differences between Issues and Risks
Learn how to perform a Risk Assessment
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When to perform it and who to engage
Expand your considerations for Risk Management
Agenda
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Defining Risk Management
Risks vs. Issues
Basic Steps in Risk Management Planning
Considerations for Risk Management
Quantify/Define Risk Levels
Identify Risk Impact and Probability
Q&A
The Risk of Change
Every change represents some level of risk.
Do all organizations properly assess and manage risk during a
major change?
I Wish It Were Fiction, But…
“Shares of Invacare Corp. fell 5.8% after the company said it expects its
performance to be below expectations next quarter due to problems
implementing a new ERP. The company estimates the resulting temporary
disruption of order processing capabilities and inefficiencies caused a
revenue shortfall of about $30MM.”*
Don’t Get Caught Without It!
Without a Risk Management plan –
you, the sponsor and the company/organization are in danger of
failure.
• Failure can mean cost and schedule overruns, impacts on
operations, customers and shareholder backlash
• Everyone is obligated to have an effective Risk
Management/Risk Mitigation Plan!
Risk Management Defined
According to the PMI PMBOK, Risk Management is a
key knowledge area defined as:
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A systematic and proactive approach to taking control of
projects and decreasing uncertainties.
Minimizing the consequences of adverse events while
maximizing the results of positive events. Risks can be good
(opportunities) or bad events (like the prior scenario).
An iterative process, not a one time event. As we know more
during a project life cycle, the Risk Management plan becomes
more fine-tuned.
Risks vs. Issues
Issues
 Issues are not addressed in the Risk Management Plan
 Issues are dealt with throughout the project
 An issue is a problem that can be solved
 Issues can have various levels of importance and can stop
project progress
Risks
 Are potential future events or occurrence that can have a
positive or negative effect on the project or organization
 Risks are mitigated or assumed prior to occurrence and
generally do not stop a project
Risk Management Planning
Basic Steps
 Plan
 Identify
 Quantify and Qualify
 Respond
 Monitor and Control
When do I start? The sooner the better!
 Begin with the Charter and leverage the Sponsor and others
to being to identify Risks (even though the team may not be
fully assembled).
Risk Management Considerations
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It’s not just project risk (schedule, budget, objectives, quality)
Here’s a partial picture to include in your Risk Assessment:
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Vendor
Customer
Operations
Shareholder
Media
Interest Rate/Market
Reputation
Legal
Compliance (SEC, OCC, etc.)
Career (yours, your sponsor, your team)
You are asking yourself – are these risks really ever realized?
Let’s discuss another “I wish it were fiction” scenario.
Quantify/Define Risk Levels
Define your risk levels – ensure that everyone is in agreement on the
definitions before you go into your identification of Risks (Impacts and
Probability).
Sample Risk Levels:
Identify Risk Impact & Probability
Who should attend the working session?
 Significant project team members
 Stakeholders that are impacted – include the folks that
understand the impacts
 Audit and Risk partners
 Corporate Communications (if significant media risk)
 Compliance/Legal
 Customer Servicing Areas
How often do I repeat this Risk Assessment?
 At each tollgate or life cycle phase conclusion (when you
know more, you’ll uncover more)
Identify Risk Impact & Probability
High
Significant
Risk
Major
Risk
Major
Risk
Risks in
 Consider
this area first
Impact
Medium
Low
Minor
Risk
Minor
Risk
Low
Significant
Risk
Major
Risk
Minor Risk Significant
Risk
Medium
High
Risks
 Consider
in these areas next
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Then here until
all diagonals
have been
considered
Questions to Ask
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What could go wrong
What is the probability of it going wrong
How significant is it if it goes wrong
Who is responsible for what when it goes wrong
How can we mitigate or prevent it from going wrong
Now It’s Your Turn!
Let’s Perform a Risk Assessment
Installing a New Payroll System:
 Company employees salaried, hourly, union labor and also
has their retirees on the system – all are converting
 Some process changes are occurring at the same time –
going from a centralized environment to decentralized
work flow
 Project has been behind schedule so we are intending to
convert April 30th (not on a quarter end)
 Vendor that is supporting integration efforts and has
always performed conversions on quarter ends
Performing a Risk Assessment
Are Risks Ever Realized?
“I wish it were fiction, but…”
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Local headlines about a financial services provider
experiencing technology and customer servicing issues
demonstrate what can happen.
Customers (retired with investments) could not access
their invested or deposited funds for over one month.
Risk was not mitigated and caused Customer, Operations
and Media impacts.
Overall company reputation was jeopardized
Sources and Techniques
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FMEA – Failure Mode Effect Analysis
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Six Sigma Technique
Products: Syntex® and LogicManager®
OCTAVE – Operationally Critical Threat, Asset and
Vulnerability Evaluation
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One of the best known risk management methodologies.
A structured approach to evaluating risk that addresses
operational risk, security practices and the technology that
is used to mitigate the recognized risk.
Conclusion and Q&A
Closing
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