Risk-Focused Approach to Recovering and Managing Troubled Projects

  • 3 day(s)Duration
  • 2.1 CEU/21 PDU/Credits/Units
  • MDI199Course Code
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Course description

This comprehensive workshop has been designed for experienced program managers, group leaders, project managers, coordinators, or staff managers (managers of project managers) responsible for the timely delivery of solutions and/or services. You will learn how to make informed and quantifiable risk management based decisions about the actual rather than perceived status of the project. This course uses a structured, multipoint, risk-balanced approach based on objective assessment of issues and opportunities to make hard decisions as to proceed, redirect, or instead cancel the project. This workshop follows the principles and techniques outlined in the Project Management Institute‚Äôs (PMI®) Project Management Body of Knowledge (PMBOK®).

Who should attend

Individuals who will benefit from this course include managers who are directing project managers and resources across multiple projects.

Prerequisites

Attendees should have completed formal project management training and have reasonable background/experience in project and program management.

What you will achieve

  • Develop categories for an assessment methodology for distressed projects to define the symptoms and why and how projects get into trouble.
  • Use multipoint checklists to evaluate a thorough project plan and execution readiness.
  • Perform root cause analysis of gaps, issues, and bottlenecks.
  • Employ project process mapping methodology to conduct "what-if" scenarios to evaluate options.
  • Integrate go/kill-point decision making to objective project phase gate reviews.
  • Develop a team approach to proceeding with the selected recovery plan.
  • Conduct an effective program management phase review through establishing thresholds for performance reviews and variance reporting.
  • Incorporate lessons learned to prevent future projects from falling into trouble.

What you will learn

Course Outline
Module 1: Symptoms of Projects in Trouble
  • Overview of Project Management and the PMBOK®
  • Early Symptoms of Project Trouble
Module 2: Root Causes for Troubled Projects
  • Reasons Projects Run into Trouble
  • – Technology Challenges
  • – Scope Changes
  • – Poor Estimating Processes
  • – Poor Scheduling Processes
  • – Poor Performance Processes
  • – Resource Issues
  • Symptoms of Team Stress
  • Communication Management
  • Vendor/Contractor Management
  • Risk Management
Module 3: Making Your Recommendations
  • Project Parameters
  • Project Constraints Flexibility Matrix
  • Technology Solutions
  • Scope Solutions
  • – System Roadmapping
  • – WBS Detail Breakdown Criteria
  • Timeline Solutions
  • Technical Performance Measurement
  • Establishing Team Engagement and Plan Adoption
  • Matrix Management Checklist
  • Recovery Decision-Making Process
  • Managing Project Execution
  • Outsourcing and Supplier Management
  • Factors Needed for Success
  • Project Manger Steps to Recovery
  • Lessons Learned
Module 4: Trouble Prevention Through Best Practical Practices in Risk Management
  • Critical Success Factors for Project Risk Management
  • Risk Management Objectives
  • Risk Management Team
  • Managing Risk by Project Phase
  • Risk Management Plan
  • Risk Breakdown Structure
  • Documentation Reviews and Assumption Analysis
  • Information Gathering and Expert Judgment
  • Checklist Analysis
  • Diagramming Techniques
  • SWOT Analysis
  • Risk Register
  • Probability and Impact Assessment
  • Project Documents Updates
  • Interviewing and Expert Judgment
  • Expected Monetary Value and Decision Trees
  • Modeling and Simulation
  • Schedule/Time Risk Reserve Management Methodology
  • Strategies for Threats and Opportunities
  • Guidelines for Using Risk Mitigation Techniques
  • Risk Audits, Variance/Trend Analysis