Risk Management Case Study

Risk Management Case Study-34
The main challenge was gaining comfort that we would be able to demonstrate the value that we expected would be delivered by that investment to other people within the company” says Matthew Spithill, Chief Financial Officer, Eureka Funds Management.This case study highlights how Eureka Funds Management has used Protecht.

The main challenge was gaining comfort that we would be able to demonstrate the value that we expected would be delivered by that investment to other people within the company” says Matthew Spithill, Chief Financial Officer, Eureka Funds Management.

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273) PMBOK Guide also states: “The objectives of Project Risk Management are to increase the probability and impact of positive events, and decrease the probability and impact of negative events in the project.” (p.

273) Practice Standard for Project Risk Management identifies three critical success factors for risk management: (PMI, 2008b, p.

The Practice Standard for Project Risk Management published by the Project Management Institute (PMI, 2008b) describes standards for risk management that are recognized as good practice on most projects most of the time.

Do complex projects require any different or additional processes or procedures than the standard describes?

As experienced risk management and insurance intermediaries, advisors identify risk, examine the adequacy of existing programs and develop customized solutions to reduce exposure, eliminate duplicate coverage and minimize premiums.

“Protecht has given us a system that allows us to quantify risk across the full spectrum of the game,” said Luke Sullivan, National Rugby League’s Work, Health and Safety Manager.The case typically builds to a point where the decision-maker is confronted with open-ended choices.The audience is left to analyze the information and scenarios and then make critical decisions based on contextual analysis.In A Guide to the Project Management Body of Knowledge – Fourth Edition (PMBOK Guide), “project risk is an uncertain event or condition that, if it occurs, has a positive or negative effect on at least one project objective.” (PMI, 2008a, p.275) The definition for Project Risk Management, as defined in the PMBOK Guide, is “Project Risk Management includes the processes concerned with conducting risk management planning, identification, analysis, responses, and monitoring and control on a project.” (p.A good TMS covers configuration flexibility and adaptability to the internal process. Read this Case Study There is an increasing need for companies to focus on how risk management can create opportunities, meet corporate strategic objectives and help generate better returns, rather than just focussing on mitigating downside risk.Protecht is a leading provider when it comes to Risk Management Software. Read how Super Retail Group has generated significant performance increases at the customer coal face after rolling out Protecht. Protecht wishes to thank Super Retail Group for their participation in the case study.A project may choose to use a risk universe checklist (historical review), together with assumptions analysis (current assessment) and brainstorming (creativity).The design and construction of a refinery is inherently complex.An effective case study transfers specific knowledge by placing the student or workshop participant in a position to think through choices faced by decision-makers in real-life situations.By confronting actual scenarios, participants develop and refine analytical skills for solving similar problems in their own projects (NASA, 2008).


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