The 2012 Risk Zone Summit
"Attending the 2012 Risk Zone Summit wasn't originally on my agenda; I was there primarily because of my father's insistence, as we were traveling together. Initially, I thought it would be an event filled with esoteric discussions, far removed from my interests. However, to my surprise, I found myself engrossed in the presentations. It was a revelation to discover the critical role risk management plays in achieving success. Despite the majority of attendees being significantly older, I never felt out of place. In fact, my Bane t-shirt became a conversation starter!
One of the speakers, a renowned expert in risk management and, as it turns out, a fellow Batman enthusiast, took particular interest in it. He shared an intriguing perspective: embracing a Bane-like approach to risk management. His rationale was fascinating – sometimes, the best person to identify and manage risks is an outsider with a keen sense of danger, much like Bane, the notorious villain yet a character with an acute understanding of risks and strategy.
This unexpected intersection of a pop culture reference and a professional insight was enlightening. It led me to appreciate risk management not just as a business necessity but as an art form that can be approached creatively, even disruptively. This experience, though unplanned, has piqued my interest in the field, and I'm now keen to explore more about how 'outsider' perspectives, like that of Bane, can be a secret weapon in navigating and managing risks." Margi Fenton
The Risk Zone Summit, among the premier conferences to be organized in such a large and worldwide scale on topics and issues that are related to the risk factors in projects will be held in Vienna Austria. The conference will encourage interaction from participants and guests. The conference plans to cover a wide range of important topics related to risk strategies and risk management.
- Interactive 2-day conference moderated by the Risk Doctor, David Hillson
- Corporate Case Studies from Nestle, NSN, SAP AG, Transport for London, Alcatel-Lucent
- Chance to benchmark your risk management approach against best practice and identify points of improvement to meet challenges faced by your business
- Network with Europe’s Senior Project Professionals who all have considerable practice in the Risk field
- Learning effective, proactive resolution plans to turn project risks in your favor
- Rest assured by the Risk Doctor that you leave the summit with plenty of actionable learning points
The Business Issue
Managing risk in projects is a well-established practice, with agreed processes, accepted methods and proven techniques. Even though it has been long considered a key contributor to project and business success, some elements of project risk management and its overall impact on the program/portfolio or enterprise are still areas to be further examined and developed.
Particularly as nowadays project risks cannot be treated in silos anymore but organizations must offer a unified, enterprise wide approach to managing risk or capitalizing on opportunities. Unfortunately a study by COSO reported that “the state of ERM appears to be relatively immature. Only 28 percent of respondents describe their current stage of ERM implementation as 'systematic, robust and repeatable' with regular reporting to the board. Almost 60 percent of respondents say their risk tracking is mostly informal and ad hoc or only tracked within individual silos."
Therefore businesses face considerable challenges in developing and maintaining an effective risk management system that filters across the business. If you manage risk inappropriately, you can drive out the opportunity you seek in your venture. Consequently, risk management is not a matter of driving out all risks, but rather one of understanding the risks and choosing to void some, while turning others in your favor.
RiskZone 2012 brings you a range of insightful case studies demonstrating where and how successful projects have been managed, and what measures can be taken to avoid the pitfalls which have befallen others.
Summit Agenda, Day One
08:00 Registration p;
08:30 Opening Remarks by Chair
08:45 Opening Keynote: Do’s and Don’ts of Risk Management in Real Life
Wilhelm Kross, CEO Kross Consulting, PMI Frankfurt Chapter Former President
- Establishing Risk Frameworks that work
- Practical Implementations for the Net Benefit of the organization
09:30 Embedding Risk Awareness in the Core Corporate Culture
Bryan Barrow – APM Risk SIG Chair 2011 - 2012
- Why it's people, not tools, that we need to update
- The Board's role in shaping corporate risk culture
- Ending the culture of silence that allows risk to go unmanaged
10:15 Coffee & Networking Break
Auditorium One: Risk at Project and Program Level
10:45 Opening Remarks by the Chair
Paul H. Lohnes, PMP
11:00 Understanding the difference of risk management on project and program level while integrating the view on risk management for the organization
Thomas Walenta, Service Leader EMEA, IBM
- Managing Risk on organization level versus project and program levels
- Understanding different stakeholder needs and dependencies regarding risk identification, analysis and mitigation between strategic, program and project levels
- Exploring Benefits and limits of an integrative approach
11:45 Managing the people side of risk management
Presenter to be advised soon.
- Human understanding and cultural attitudes towards RM
- Delegation of responsibility
- Strategic stakeholder communication
2:30 Lunch & Networking Break
13:30 strong>Corporate Case: Delivering an Effective and Proactive Risk Response – The Austrian Ariline’s Journey on Risk Management
Ulrich Aigner - Director Corporate Project Management, Austrian Airlines
14:15 Combining Risk and Value Management in Projects and Programs
David Hancock, Head of Project Risk, Transport for London
Auditorium Two: Risk at the Enterprise Level
10:45 Opening Remarks by the Chair
David Hillson, The Risk Doctor
11:00 Is RISK a negative word in your organization?
Robert Stroud, VP CA,
Strategic Advisory Council Member, ISACA (invited)
Some simple guidelines for the implementation of effective enterprise risk management requires the development of a risk culture that considers the implications of risk and identifies process to determine if a risk should be accepted for business benefit or mitigated with appropriate controls.
- Identify the organizations risk appetite and tolerance
- Identify responsibilities and accountability for Risk Management
- Create an awareness program and communicate
- Making Risk management is the responsibility of all business professionals.
11:45 Keynote: Managing Threats & Opportunities in a Unified Risk Process
Gerhard Rotter, Director of Risk Management, Alcatel-Lucent
- Using a single risk process for both downside and upside risk
- Developing appropriate strategies to minimize threats and maximize opportunities
12:30 Lunch & Networking Break
13:30 Setting objectives for ERM function taking into account its possibilities and limitations as a corporate governance tool.
11:00 Is RISK a negative word in your organization?
Igor Mikhaylov - Head of risk management at MTS,& Board member at FERMA, Winner European Risk Manager of the year (Strategic Risk Awards 2011, London)
- Functions of integrated risk-management
- Integration of risk-management into the key decision-making processes
- Objectives for ERM based on the specifics and need of the company
- Principles for segregation of duties and functions in ERM process
- Recommendations for ERM implementation
- Milestones of ERM development in MTS (case)
14:15 Using Risk Management for Strategic Advantage
Ingo Hoffman - VP, Head of Strategic Risk Management, SAP
- Putting projects in perspective – the organizational context
- Managing risk across the enterprise through a coherent and aligned approach
- Extend ERM towards Strategic Risk Management with Focus on Emerging Risks
Auditorium One & Auditorium Two Presentations Concluded
15:00 Coffee and Networking Break
15:30 Keynote: Understanding Risk Appetite – The right approach to enteprise wide risk management
Ruth Murray Webster – VIsiting Fellow Programme and Project Management – Cranfield University Partner – Lucidus Consulting
This keynote explains the concept of risk appetite (essentially, how much risk do we want to take) but most importantly, put it into context with the other five questions you need to ask to manage risk effectively:
- Risk Culture: how much risk do we usually like to take?
- Risk Capacity: How much risk can we take?
- Risk Perception: How much risk do we think we are taking?
- Risk Attitude: How much risk do we think we should take?
- Risk Exposure: How much risk are we taking?
16:15 Keynote: Building a Portfolio Level Risk Management Environment
Paul H. Lohnes, PMP – Managing Partner, MCLMG
Cheryl A. Wilson, CCEP, PMP, PMI-RMP, - VP Risk Management, MCLMG
- New risk terminology: getting on the same page with stakeholders and PMs
- Portfolio risk environment standards: consistency and compliancy
- The Risk Management Office (RMO): support, services, and solutions
- Deliverables-Centered Project Management (DCPM): a risk-advantaged project solution
17:00 Summary, closing remarks
17:30 End of Day One -Time for a well deservedglass of wine, cocktail dinner and networking.