Stakeholders

  • Course Delivery Options

    In house and Public Program

    Next public program session: 2 - 4 May 2017

    Do contact us for a proposal for an in house session.

     

    Description

    Implementing Project Risk Management is an advanced course in project management. It aims to provide the participants with a deeper understanding of the importance of and techniques of implementing project risk management practices of any project prior to and during execution of projects.

    This course aims to provide an avenue for participants to learn how to manage real project risks so that projects may be undertaken in a structured manner to enable them to be implemented effectively. It covers all key areas for projects to be completed successfully and participants attending the course will receive 21 PMI approved PDUs.

     

    Course Objectives

    • Definefundamental approaches to project risk management;
    • Identifyproject risk characteristics and risk elements that have to be considered;
    • Listcategories and sources of risks;
    • Recognizethe difference between known and unknown risks;
    • Planfor project risk management;
    • Developa risk register and risk response plan;
    • Recognizethe significance of assumptions in projects;
    • Undertakequalitative and quantitative risk analysis;
    • Evaluaterisk probability and impacts;
    • Developan appropriate project risk response;
    • Undertakemonitoring and controlling of project risks.

     

    Program Outline

    Day 1

    Time

    Activity

    9.00

    Introduction and Overview

    9.05

    Pre Test for Implementing Project Risk Management

    9.15

    Introduction to Project Risk Management

    9.45

    Overview on the duality of project risks

    10.30

    TEA BREAK

    10.45

    Key steps in Project Risk Management

    • Risk Planning;
    • Risk Identification;
    • Risk Analysis;
    • Developing Risk Response; and
    • Monitoring and Controlling Project Risk.

    13.00

    LUNCH

    14.00

    Planning Project Risk Management

    • Risk Register;
    • Risk Breakdown Structure; and
    • Probability and Impact Matrix.

    15.30

    TEA BREAK

    15.45

    Applications Lab for the day based on planning for risks for the case study developed for the client

    16.45

    Overview of project management planning

    17.00

    Question and answer and wrap up for Day 1

     

    Day 2

    Time

    Activity

    9.00

    Recap of previous day’s session

    9.15

    Risk Identification and Qualitative Risk Analysis

    9.30

    Risk Identification Tools

    10.30

    TEA BREAK

    10.45

    Differentiating Project Risks and Project’s Risk

    11.30

    Differentiating cause, events and impacts of risks

    12.00

    Determining Risk Probabilities and Risk Impacts

    13.00

    LUNCH

    14.00

    Performing Quantitative Risk Analysis

    14.40

    Decision trees

    15.00

    Expected Monetary Value Analysis

    15.30

    TEA BREAK

    15.45

    Applications Lab for the day based on case study developed for the client

    17.00

    Question and answer and wrap up

     

    Day 3

    Time

    Activity

    9.00

    Recap of previous day’s session

    9.15

    Overview on Risk Response Planning and Risk Monitoring and Control

    9.45

    Residual and Secondary Risk Considerations

    10.15

    Mitigation and Contingency Risk Response Strategies

    10.30

    TEA BREAK

    9.45

    Types of Risk Response Strategies for Negative Risks

    11.15

    Types of Risk Response Strategies for Positive Risks

    13.00

    LUNCH

    14.00

    Differentiating monitoring and controlling project risks

    14.30

    Techniques for monitoring project risks

    15.00

    Techniques for controlling project risks

    15.30

    TEA BREAK

    15.45

    Applications Lab for the day based on case study developed for the client

    16.45

    Post Test

    17.00

    Question and answer and wrap up

     

     

    Key Features

    • HRDF SBL Approved
    • Student Workbook, Process charts & other tools and materials provided
    • Participants earn 21 PDUsin attending the session
    • Conducted by a Certified Training Professional with vast experience

     

    Selected Past Clients

     

     

  •  

    In our previous newsletter, we highlighted how optimizing knowledge management processes enables the gradual transformation of an organization from a culture of blaming to a culture of accountability. We stressed that only through active involvement of all parties involved facilitated through knowledge management based practices, can such a situation come to fruition.

    In this segment allow us to explore the idea mooted by Forbes that Knowledge Management facilitates decision making, enables the building of a learning organization as well as creates a culture of knowledge sharing and innovation. We focus in this segment the intimate relationship between better decision making by leaders and knowledge management at a personal level.

    In order to make high-quality better decisions in volatile and highly uncertain and complex business environments, three requirements need to be fulfilled. The first is the ability to undertake assumptions analysis. The second is the ability to suspend unilateral perspectives in favour of multiple perspectives when attempting to understand the situation and complication being faced. The third is the ability to make a decision that meets the short as well as long term aspirations of all stakeholders involved.

     

     

     

    Assumptions analysis

    In the highly complex and uncertain business leaders have to rely on their gut feel and intuition to decide on the best way forward. They are forced to decide based on limited, changing information and make assumptions on what other issues impact the proposed decision. This was an acceptable practice in the past but is not the case anymore. Today, the volatility and extremely complex interrelationship between different elements of a business environment makes renders the tendency to assume a very risky option to undertake.

    To minimize the risk associated with making assumptions that may not be correct, leaders need to acquire critical information either through association with people have relevant experience within the areas in question or be able to analyse intelligently data presented to guide them better and quicker in assessing the assumptions they make. Hence knowledge acquisition process needs to be optimized by enhancing the ability to connect people who have necessary expertise at short notice and the expertise to analyse information intelligently.

     

    Multi perspective Analysis

    Rapid and significant changes have become commonplace occurrence these days. There have been cases where what appeared to be the “obvious” decision to make from a leadership standpoint, led to a nightmarish outcome. A case in point is the decision by Nokia to downplay the advent of Apples I Phone because according to the leaders at that time that ,“such a phone not go far” in 2007 led to the demise of its leading position as a retailer of cell phones.

    With the complexity and interdependency of technological start-ups including the advent of artificial intelligence and advanced robotics, boundaries of technological developments are becoming increasingly blurred. Under these circumstances, leaders are limited in options available to our current level of superficial understanding within the confines of a limited point-of-view when making critical decisions given their limited comprehension of the unprecedented evolution of technology that is unfolding before them.

    The only way to make better decisions in such situations is through the production of knowledge that broadens the understanding of the emerging business environment. This requires the involvement of all stakeholders in terms of sharing and producing knowledge on a regular basis. This will over time, enable development of a more holistic and multi perspective view of issues. These perspectives raised and discussed amicably through dialogue using Knowledge Management techniques such as the Knowledge Café will go a long way in extending options available to leaders in dealing with issues that are ambiguous in nature.

     

    Balancing short and long term needs of stakeholders  

    In general the thinking process of people involves perceiving what is happening and from that perception, developing an understanding of how what is happening affects the wellbeing of the person followed by making a decision on what to do based on the understanding achieved.

    When this is done by one person such as a leader who has to decide on the next course of action, his or her perception may be clouded by inaccurate or incomplete information that could lead to a superficial understanding of the situation and complication inherent within it. Consequently the decision made may be sub optimal and at times disastrous. This is by virtue of the fact that all stakeholder considerations were not made and the decision most often is based on good short term returns without considering long term implications of these decisions.

    To mitigate the negative outcomes of a wrong decision and to minimize the possibility that sub optimal decisions are made, leaders need to develop a knowledge management capability that optimises the process of acquiring the correct knowledge from the right stakeholders at the right time, producing a holistic, shared understanding of the situations and complications involved from all relevant stakeholders and based on such an understanding be in a better position to make better decisions.

    Making a reasoned, well thought out decision that can affect stakeholders wellbeing is dependent to a large extent on minimizing the consideration of unverified assumptions and adopting a unilateral, superficial understanding of issues. Such a decision has to be premised on the need for internalizing concerns and welfare of stakeholders involved both in the short and long term.

    If this is done as a matter of routine, then such a decision making process is deemed to have been integrated within the decision making approach adopted by leaders in the organization. Developing and maintaining a well-oiled and thought out knowledge management approach as a catalyst for making the right decisions is certainly a step in the right direction.

     

     

     

     

  • Course Delivery Options

    In house and Public Program

    Next public program session: 5-6 July 2017

        

    Do contact us for a proposal for an in house session.

     

    Overview

    In any business enterprise, the key decisions made are often based on considerations pertaining to the stakeholders. This is because stakeholders in an organization can impact or be impacted by the overall business direction pursued as and when decisions are made.

    To ensure that the interests of all stakeholders are met as far as possible, it would be necessary to categorize and manage stakeholders continually and systematically. Failing to do so would frustrate attempts to make changes deemed to be necessary for the success of the organization.

    This course focuses on developing the necessary competencies of managers in stakeholder management. It provides a sound framework for undertaking stakeholder management through stakeholder needs assessment and provides participants with a structured approach towards addressing these needs. The course includes a thorough description on how to develop a stakeholder management plan.

     

    Objectives

    By the end of this module, the participants will be able to:


    1. Define key components of stakeholder management.
    2. Classify levels of stakeholders.
    3. Recognize methods to influence stakeholders.
    4. Conduct a comprehensivestakeholder needs assessment.
    5. Develop a stakeholder needs assessment document.
    6. Develop a comprehensive stakeholder communication matrix.
    7. Develop an individual stakeholder management plan.
    8. List the principles of stakeholder management.

     

    Target Audience

    Project Managers, Functional Managers and Executives who are involved directly or indirectly in managing stakeholders either in a supportive, managerial or operational capacity.

    Project team members who deal with vendors and customers on a regular basis in meeting project objectives.

     

    Course Schedule

    Day 1

    Time

    Activity

    9.00

    Introduction and Overview

    9.05

    Pre Test

    9.15

    Overview on importance of stakeholders

    10.30

    TEA BREAK

    10.45

    Individual exercise: Conducting a stakeholder level classification 

    12.15

    Facilitator feedback on individual exercise classifying stakeholder levels

    12:30

    Stakeholder needs assessment

    13.00

    LUNCH

    14.00

     Group based exercise : Conducting a stakeholder levels needs identification 

    14.35

    Facilitator feedback on group based exercise identifying stakeholder needs

    14.45

    Stakeholder needs assessment 

    v  Influence 

    v  Interest

    15.00

    Data collection and analysis for stakeholder needs assessment

    15.20

    Demonstration of data collection and analysis of stakeholder influence and interest by facilitator using pictorial template

    15.30

    TEA BREAK

    15.45

    Group based activity: Conducting a comprehensive stakeholder needs assessment

    16.45

    Facilitator feedback and sharing session on “gems” and “opportunities” in the group based presentations made

    17.00

    Summary and Q & A session

    17.30

    End of Day 1

    Day 2

    Time

    Activity

    9.00

    Recap of previous session

    9.15

    Interactive lecture on “Communication matrix”

    9.45

    Demonstration on developing a communications matrix

    10.30

    TEA BREAK

    11.15

    Compilation of Stakeholder communication matrix based on stakeholder communication worksheet

    12.00

    Group based activity: Developing a communications matrix

    12.45

    Facilitator feedback on group based activity on communications matrix

    13.00

    LUNCH

    14.00

    Interactive lecture on “Stakeholder management ”

    14.30

    Individual exercise :Causes of poor stakeholder management  

    14.45

    Facilitator feedback on individual exercise

    15.30

    Balancing the needs and concerns of stakeholders

    15.45

    Group based activity: Developing an integrated stakeholder management plan

    16.00

    TEA BREAK

    16.30

    Facilitator feedback on group based activity relating to developing a stakeholder management plan

    17.00

    Summary and Q & A session

    17.25

    Post Test

    17.30

    End of Day 2

     

    Partial Client List

    Image result for tenaga nasional Image result for petronas dagangan Image result for singtel

    Image result for jabatan perdana menteri

     

     

     

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