Strategic and Project Risk Management

An RMIA Virtual Course in partnership with The Protecht Group.

About

This workshop is aimed at understanding risks associated with strategy, projects and change with an in-depth look into tools to analyse these risks.

Course Overview

1.  An overall framework for Managing Enterprise Risk

  • Starting with business as usual and strategic objectives
  • Understanding strategic objectives and the drivers of change
  • Linking Enterprise Risk Management with the entity's overall vision and strategy

2.  Analysing the risks in strategy and change

  • A brainstorm of common problems in managing strategy, projects and change
  • Decision risks covering upfrom decisions and ongoing decisions
  • Execution risk covering the risks that can impact time, cost and quality
  • Delivered risk covering the impact of change on business as usual risks. This also covers benefit risk.

3.  Decision Risk

  • Analysing the drivers of sub optimal decisions using Bow Tie analysis  
  • Differentiating upfront decision risk and ongoing decision risk 
  • Analysing scope and choice risk
  • Identifying the drivers of ongoing decision risk
  • Factoring in environment al drivers (e.g. competitor behavior, customer behavior, technology disrupton, regulatory change etc.)
  • Identifying and differentiating threat and opportunity risk
  • A model for minimizing decision threat risks
  • Decision tools to make optimal risk/reward decisions
  • Key controls to manage decision risks
  • A model for capitalising on decision opportunity risks
  • A framework for opportunity risk management

4.  Execution Risk

  • Identifying project execution objectives of time, cost and quality 
  • Understanding the drivers of execution risk using Bow Tie analysis
  • Managing waterfall project execution risks
  • Managing agile project execution risks

5. Delivered Risk 

  • Identifying the business as usual risks that will be materially impacted by the change
  • Carrying out a future state risk assessment and responding to that assessment
  • Keeping the delivered risk assessment current and factoring in change requests
  • Benefits realization risk
  • The importance of the post implementation review
  • Factoring learnings back into the risk management process

6. What is practically required to manage change risk?

  • Conducting a strategic risk assessment
  • Running a strategic risk register
  • Running a project execution risk register
  • Using technology to support the process

7. Governance structures

  • Overall governance structure for strategic, project and change
  • The three lines of defence and its application to change risk
  • Roles, ownership, responsibilities and accountabilities
  • Ensuring and aligned incentive scheme
  • Driving the right culture to support effective and efficient change risk management

8. Key Takeaways

Learning Objectives

  • An in-depth understanding of the full range of risks associated with strategy, projects and change covering Decision, Execution and Delivered Risks
  • The ability to analyse these risks in detail using Risk Bow Tie analysis
  • An understanding of the various techniques and tools that can be used to manage each risk
  • An in-depth look at decision making tools. From qualitative, through semi quantitative to fully quantitative tools.
  • A working knowledge of how to apply enterprise risk management tools to strategic, project and change risk, including risk assessments, key risk indicators, incident management, issues and actions, controls assurance
  • An appreciation of best practice risk reporting for strategic, project and change risk
  • An appreciation of the governance structures around managing each change risk inlcuding risk and control ownership, responsibility, accountability
  • An overview of the people and culture aspects of managing change including aligned incentive schemes and the key aspects of a strong change culture
  • An understanding of how to overcome the common hurdles to making good "change management" work

Format of the Course

This course is delivered in an entirely online COVID-Safe format. This event is offered as 4 x 90 minute live sessions (total 6 hrs) over 4 days via GoToTraining online.

About Your TrainerDavid Tattam from The Protecht Group

Author of 'A Short Guide to Operational Risk', David’s vision is to redefine the way the world thinks about risk and risk management.  He is passionate about risk and risk management and in reaping the value that risk and good risk management can create for any organisation willing to embrace it.  David is the driving force behind Protecht’s risk thinking, pushing risk management to the frontiers of what is possible. He is also focused on driving the uplift of people risk capability through training and content. David is particularly passionate about risk management research and is prolific in creating a wide range of content delivered in blogs, ebooks, webinars and training courses. He has developed Protecht’s comprehensive suite of  risk management training courses has trained many thousands of risk practitioners across the globe. David also manages Protecht’s consulting business offering a range of risk consulting capabilities from Risk Management Framework to Risk Appetite Statement development. Prior to co-founding Protecht, David was the Chief Risk Officer and Head of Operations for the Australian operations of two global banks. He started his career as a Chartered Accountant and Auditor with Grant Thornton and PwC. David is an Associate of the Institute of Chartered Accountants in Australia and New Zealand and a Senior Fellow of the Financial Services Institute of Australia.

INVESTMENT: $660.00 incl.GST for Members

$792.00 incl. GST for Non-Members

CPD: 12 points

When you register for this course you agree to the RMIA passing your registration details onto our Training Partner, The Protecht Group.

For Group Bookings please email events@rmia.org.au or call 0431 740 575.

To register for this event go to Upcoming Events for current courses available.