Lessons Learned Risk Policy 2009 Summer

The fourth PMBOK Café explored the Risks involved with Managing Global Projects. Global Projects have additional risks that must be identified, monitored and controlled.

Political Regulational and Economic Risks are dynamic and have a huge impact on global projects. To deal with these risks Project Managers need to have smart research strategies. Examples of Political Risk that were presented in the Café were projects involving North Korean facilities with South Korean employees. North Korea released South Korea's Hyundai Asan worker on Thursday after four-and-a-half months of detention amid an ongoing visit by the company's chairwoman, Jung Un, Hyun and Project member, Mr. Yu Seong-jin, detained in North Korea for 136 days.

Global Projects are also subjected to Currency Exchange risks. Managing these risks involve hedging against a currency change that might impact the project.

Global Projects also involve a significant Socio-Cultural risk that are difficult to manage due to cultural differences. This cultural gap impacts communication and trust. If different cultures cannot trust each other for example differences in high context and low context countries there is a risk the project will run into difficulties.

Global Markets impact Projects because of rapidly changing competitive conditions. Shifting market conditions may cause external changes to scope requirements. Project Managers should actively gather information and analyze the data. If there is a need the Project Manager should trigger risk response strategies.

PMBOK Cafe Presentations "Japanese Best Practices"

How to succeed in Global Project by the Japanese way?

Cultural Environment of Japanese Project Management

Communication Issues in Japanese Project Management

Team Building and Managing Risk in Japanese Project Management

Global Project Management

What are the best ways to build trust on a global project?

On Global Projects, Dis-located teams and cultural gaps cause poor communication. Poor communication causes ambiguous incomplete requirements specifications. The impacts are Mis-trust and failure to meet expectations? PMBOK Café Global Project Management workshop offers participants the opportunity to learn how to facilitate trust building on their projects. The Café uses lecture, discussion and team building activities among Global Project Management peers.

Stakeholder Management 

How to manage multi-cultural Global Project Teams?

Projects are about people. Identification of the stakeholders, understanding their requirements and setting their expectations is challenging on global projects separated by location and time. A Global project challenge is to harmonize cultural differences; for example explicit written formal project documents and tacit verbal informal shared value project management. This café will explore the, techniques to asses various cultures communication preferences, how to have effective communication between cultures and what is the best way to influence stakeholders using soft skills. The Café uses lecture, discussion and team building activities among Global Project Management peers.

Japanese Best Practice 

How to narrow the gap between PMBOK methodology and Japanese Practice?

Performing Projects in a Japanese Environment is somewhat different. It is true that many people in Japan hold the PMP credential and have knowledge of the PMBOK methodology. But it is also true that the many Japanese people report that in their organizations they do not use the PMBOK methodology. This café will explore the differences between Japanese practice and PMBOK practice. Participants will discuss their experiences with each other and combine their ideas to create new insights into performing Project Management in Japan. The goal of the café is by understanding the differences between the two respected ways of managing a project we can offer solutions to improve our performance of Project Management.

Risk Policy 

How to Manage Global Risks effectively?

Global Project face unique risks, for example; political, economic, market, competitive and technological risks and project management methodology risk.  How can we identify and manage these global risks? The goal of the Fourth PMBOK Cafe workshop is to explore the Global Project Risks. What are the top Risks? If these Risks happen what will be the effect? What can we do to manage these Risks? We will also focus on what are the Risks to our Project Management Methodologies? What can we do to improve our Schedule and Cost Risks on our global projects?

The Marketing School of Project Management 

How to promote and sell good Project Management in Organizations

Marketing and Selling the Project to Senior Stakeholders.” The first phase of Planning “Collect Requirements” is a critical time when stakeholder influence is the highest. Project Managers must quickly access whom on a project needs access to information propose a solution that solves a problem and adds value to the organization. This café will explore how to “Market” good project management to senior stakeholders, Management, Sponsors, Project Management Offices, etc.. How to “Market” that good project management is aligned with the Organizations Objectives and it will solve problems and provide solutions to customers.