Political/Regulational/Economical

Introduction

Identify and Mitigate top Political/ Regulational/ Economical Risks to Global Project Management
To identify and propose ideas to mitigate risks on Political/ Regulational/ Economical area to Global Project Management
Global Projects Compared to local projects, we face more dynamic risks which have huge impacts
The goal is to be on budget, on Time, with satisfied customers
Smart Research Strategies, Proper Risk Response
Show 2 risks & explain how they could be controlled & managed.

Political Regualtional and Economic Risk from Robert Higgins on Vimeo.

Political Regualtional and Economic Risk from Robert Higgins on Vimeo.

Body

1st sample of risk : Saving Private Korean

Incident happened around April 2009
Kaesong Industrial complex
Car manufacture, construction, chemical, etc....

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
Project member, Mr. Yu Seong-jin, detained in North Korea for 136 days
Lesson learn from the sample

Now the South Korea Government requests you to time travel back to the planning phase of the project.
Knowing the political risk which was happened, how would you plan and mitigate, and prepare the contingency plan?
Plan: form a risk management team with Korea Government SME, North Korea Ambassador.
Hold weekly meeting with the RMT.
Mitigation:
Closely keep an eye on the country political activities, seek advice from SMEs
Have a trigger and plan to evacuate project members

Vote another President if possible...

Contingency: Come up with contingency plan for each "high" risks

Obtain consensus, sign agreement for the contingency plan - so that Mr. Yu Seong-jin would not be detained for 136 days

2nd sample of risk : Current currency changing(e.x TOYOTA)

Lesson learn from 2nd sample
-How to control & manage a risk
Managing

- Risk hedge action before actualizing a risk

Monitoring
- Continual monitoring to each local site (goverment, economy)

Controlling
- Do an action which is prepared beforehand.

Conclusion

We showed 2 risks & explained how they could be controlled & managed. Then give conclusion
Comparing with local projects, we would face more dynamic risks which have huge impacts in global projects
Within budget, on Time, customers satisfied
Smart Research Strategies, Proper Risk Response

Summary See complete responses

What kinds of technologies/tools do you use for sharing Project Information with Stakeholders ?
	E-Mail   11 92% Portal   2 17% Telephone (Audio Conference)   7 58% Video Conference   5 42% Others   4 33% People may select more than one checkbox, so percentages may add up to more than 100%.

Which way is the best approach to persuade stakeholders against the changes of Project Scope / Requirements etc. ?
	Bottom-up Approach   0 0% Top-down Approach   3 25% Both of Bottom-up and Top-don   9 75%

How do you find the right person who has large influence on decision making ?
	Informal Communication (Drink, Dinner ..)   3 25% Formal Communication (Meeting)   4 33% Daily Communication in Project   5 42%

Summary See complete responses

What is your preferred method to communicate change to a senior stake holder?
	Top down   10 77% Botom up   3 23%

Which method presents more opportunity for negotiation?
	Top down   3 23% Bottom up   10 77%

Which method is more difficult in negotiation?
	Top down   8 62% Bottom up   5 38%

Which method requires more extensive work and preparation
	Top down   6 46% Bottom up   7 54%

Which method has more risk in communicating change to senior stake holder?
	Top down   11 85% Bottom up   2 15%

Which method has a higher probability of success in communicating change to a senior stakeholder?
	Top down   11 85% Bottom up   2 15%

Which method requires more grease (money, indirect influence) to communicate change to senior stake holder?
	Top down   6 46% Bottom up   7 54%

Which method requires more detailed evidence (proof) to communicate change to senior stake holder?
	Top down   2 15% Bottom up   11 85%

Which method depends more on relationship in communicating change to senior stake holder?
	Top down   11 85% Bottom up   2 15%

Summary See complete responses

According your experience, which tool was useful for sharing the project requirement with stakeholders and for managing the change requirement?
	E-mail   8 73% Web Portal   3 27% File sharing server   2 18% Conferencing   4 36% Face-to-face meeting   9 82% Hard Copy Document   4 36% People may select more than one checkbox, so percentages may add up to more than 100%.

How does the Projects Manager ensure (pursuade) accptence of change (alternative proposals)?
	Historical data and benchmarking   3 27% Innovative solution using makey trends and technology   2 18% Third party consultaion   0 0% All the above   6 55% None of above   0 0%

When you request the evaluation of project proposal from other vendor or staff, what is your recommended approaching?
	Requesting your team member   7 64% Using independent party (advisoring board)   0 0% By yourself   4 36%

When you request evaluation of proposals from other vendors or staff, how much reliable do you feel normally?
	Under 25%   1 9% 26 % to 50%   5 45% 51% to 75 %   4 36% Above 75%   1 9%

PMBOK Cafe Marketing Project Management Best Practices Presentations

Top Down

Bottom Up

Innovative

Innovative approach to the Marketing Changing on a Project

Scenario

Conclusion

PMBOK Cafe Marketing Innovation from Robert Higgins on Vimeo.

Market and Competitive Risk in Global Project Management

Market risks are influenced by competitive risks. Technical risks give impact on individual project progressing. We are here to introduce how to manage market and competitive risks to make the profit. The problem is we cannot control the market and the competitive risks. Take risks smart and change risks to opportunities.

Gathering information is the most important factor to win competitors in our market place. Get better market information than competitors. If you want to get information on your competitor’s and it may be necessary to spy on your competitors. Analyze the collecting information whether its issue or risk. Classify quantitative and qualitative risk. Prioritize the risks. Making marketing strategic options. Appropriate Timing? Suitable Cost? Matured? Target Age? Change Strategies,  Investment (M&A),  Political and regulative action,  Head hunting,  Change the target The key way to deal with the market and competitive risk is to be able to change the strategy.

Stay focused on the result of the project to make the profit, so monitor these risks. Take risks smart and change risks to opportunities.

Questions and Answers. Why is best to finish a project first? To make a profit it is most important to be first. For example Toyota Prius entered the market first. But there is also opportunity in the second to market. For example in Japan IBM is known as watching the market and being the second to enter the market. What does take a Risk Smart mean? We don’t need to take all the risks, we need to prioritize and focus on the important risks in the market.

Market and Competitive Risk in Global Project Management from Robert Higgins on Vimeo.