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Management of Engineers and Technology Project Management Risk Management.

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Presentation on theme: "Management of Engineers and Technology Project Management Risk Management."— Presentation transcript:

1 Management of Engineers and Technology Project Management Risk Management

2 Principle 3: Getting Things Done Engineers are task oriented Organizations do things via projects New or altered products Process or infrastructure improvements Adding capacity Bad things happen Anticipate what might happen Have a plan for dealing with it

3 Project Management Organizations accomplish things through projects First exposure to management High stakes, high visibility Many projects fail

4 Career Progression Design Engineer Project Engineer Project Manger Engineering Manager General Manager

5 Project Management: The first step into management Managing and motivating people Coordinating diverse efforts Working with suppliers and customers Exposure to Accounting Scheduling Purchasing Contracting

6 Elements of a Project What are you going to do? Project objectives Scope of work (WBS) How much is it going to cost? Budget When is it going to be done? Schedule Who is going to do it? Project team, resources

7 Project Life Cycle Beginning Middle End

8 What is Project Success? Scope completed Within budget On schedule Objectives achieved Customer is satisfied Team is better for the experience Project process is improved

9 Project Management Planning Tracking Controlling

10 Project Management Software Good Project is planned and organized Project updates and monitoring Works with other software packages Bad Cost: purchase, learning curve Focus on software instead of people May not mesh with existing practices

11 Sources of Project Problems Unclear objectives Sharing of limited resources Forced or inherited budget, schedule Unclear scope/scope creep Contracts and contractors/consultants Interactions and dependencies Poor people skills (communication) Limited authority (matrix)

12 Recent Developments Critical Chain Project Management Recognize uncertainty Two-point estimates Internal/external schedules Buffer management Agile Project Management Projects with high uncertainty Clear goal, ground rules Short-term plan, periodic reviews

13 Themes Organizations use projects to get things done Projects are a great first step into management Projects are important, visible, risky, and can be rewarding Planning, communication, flexibility, and people skills are keys

14 Risk Management Anticipate risks Determine and minimize causes Predict possible outcomes Have a plan that deals with likely outcomes Crisis management Not all risks can be anticipated Crisis management skills are important

15 FMEA: Failure Mode and Effects Analysis Use system analysis or WBS Identify components or tasks that may fail Estimate likelihood of failure Analyze failure modes Have a plan for dealing with as many failure modes as possible Standard procedures Training of personnel

16 Crisis Management J & J Extra-Strength Tylenol Arsenic-laced capsules Risk minimization (damage control) Immediate recall of affected products Advertising campaign Risk prevention Tamper-resistant and tamper-obvious packaging Tamper-proof caplets Permanent changes

17 In A Crisis… Think, but act quickly and decisively Be positive and calm Positive attitude Focus on the solution Avoid panic and blame Follow up How and why did it happen? Make changes permanent

18 Summary Projects and business involve risk Risk can be anticipated, estimated, and minimized When the inevitable crisis happens., effective crisis management can make or break a company or project Panic, anger, and placing blame are negative reactions to a crisis

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