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Risk Management - Session Chair Paul Davies
The aim of this session is to examine what ‘Risk Management’ means to
different practitioners. Is there a difference between perception of
risk by a customer and a supplier? By a Systems Engineer, a Project
Manager or an Accountant? Does the ‘optimum’ risk mitigation strategy
depend on your point of view?
Why is Risk always ‘Someone Else’s Problem’, or just goes
unacknowledged? What barriers are there to introduction of a Risk
Management process, and can we overcome them?
13:30 Risk 101 - How to Use Risk Management to
leverage Systems Engineering into a Project - Paul Davies, Thales
We start with a lightning overview of best practice texts, and look
at typical examples from a working project. Some rules of thumb for
turning technical risk identification ("what might go wrong?") into
financial terms are expounded. The concepts of pre- and
post-mitigation risk are presented, along with the key assessment of
return on investment of risk mitigation activities. The links with
Project Planning and accounting follow, and finally we look at the
introduction of change towards team ownership of the risk management
process.
13:55 Design Spirals in Aircraft Design - Risk
Mitigation against Mismatches in Requirements and Lowering Development
Costs - Carren Holden (BAE Systems)
This presentation addresses the issue of how design spirals help to
avoid so called "crunch time", when building a complicated platform
such as an aircraft. "Crunch time" is when the unexpected happens
during a design, such as discovering that the fuel tank volume is too
small to hold the fuel required for the various missions.
Opportunities provided by the design spiral will be explored, for
progressive and efficient optimisations over ever more refined
trade-space opportunities.
14:20 Risk Management
Applied to Mega Projects – Derek Price,
Parsons Brinkerhoff Ltd.
This
Presentation will focus on Project Risk Management applied to Mega
Projects. A snapshot of application of project risk management to a
large construction project; a Major Airport expansion; UK Rail
projects; and small projects
State of the art in infrastructure business:
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Use of Quantified Risk Assessment to
determine variance in costs & schedule
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Tool usage
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Relationship with other project issues
(Value Management, Systems Engineering, information risk management)
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A view on how well this is applied in
reality
Key Issues:
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What makes a good risk management system?
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Are project organisations designed to deal
with risk well?
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Is the infrastructure world any different
to defence & aerospace?
14.45 Refreshment break
15:10 The Judge, the Social Worker and the
Policeman - How the MoD governs Interoperability risks - Gordon
Woods (MOD-DPA)
Ensuring the interoperability, or at least reducing the risk of
integration, of complex MoD Systems is a challenging task.
Projects have to balance their own costs and programme against
possible delays to in-service dates due to protracted integration
issues. One of the initiatives undertaken by the Integration Authority
has been the formation of the Interoperability and Compliance
Assurance (IOCA) team who work with projects to achieve a sagacious
outcome.
The effectiveness of a twin approach of Interoperability Assurance
and Compliance Assurance, and how it can be applied to other industry
sectors will be demonstrated. Examples will be given of real issues
and problems, together with the mechanisms by which these have been
managed and resolved.
15:35 Requirements, Risk, Project Duration and
Acquisition Approaches (Pure Off the Shelf, COTS, Bespoke and
Collaborative-Bespoke) - Duncan Kemp (MOD-DDSA)
This presentation will discuss the following:-
- Integration, performance, cost and time
- Delivering capability through equipment and non-equipment
approaches
After outlining the basic issues, Duncan will lead an interactive
session looking at:-
- The impact on defence acquisition
- The impact on individual companies
- The implications for systems engineering and systems engineers
16:25 Floor Debate
- Employer attitudes to acknowledgement and active management of
Risk.
- Analyse barriers to implementation.
- Can we produce a simple guide to the benefits of Risk Management
for the practising Engineer?
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