Pragmatic Analytics for Managing Project Risk
ROR Stage: gathering and analyzing data
The objective of this project is to help companies improve decision quality around projects and business opportunities by aiding them, in pragmatic fashion, to analyze the associated risks. The focus is on projects and opportunities whose success is strongly dependent on the ability to identify and manage significant risks and uncertainties. We intend to identify effective processes, organizational structures, and resources that leaders can provide to advance the use of risk analytics within their organizations.
This is our ROR project team’s proposed approach:
• Survey best practices both current and in literature;
• Identify successful leadership and culture practices;
• Lay out pragmatic project risk analytic techniques.
• Methods may include ROR member roundtable, brainstorming methods, and structured interviews of leaders’ successes.
Together, we aim for tangible progress and a written RTM report in these areas:
• Documented best project risk analytic practices
• Clear descriptions of supportive leadership practices
• Examples of improved decision making through the application of risk analytics
We anticipate completing this activity by Winter 2015.
Team Members: Scott Mathews, FM Global; Robert Williams, Boeing; Alan Fusfeld, Fusfeld Group (SME); Phil Russell (IRI Emeritus)