Automotive projects continue to grow in complexity. Studies provide a glimpse into the attributes of product development projects that have a high likelihood of failure. Knowing these attributes, the approach to the project can be structured to reduce the risks. For example, the scope of the project may already place the project at risk. Understanding the risks associated with the scope enables you to either reconsider the scope or work out strategies that will eliminate or at least mitigate the risks. In addition, your approach or strategy selected to meet the project demands will have significant impact on the results. Also, distribution of talent means you have to ensure your project manager and team know what risk is and the specific risk management process for this project.
This six session course will discuss the attributes that portend high probability of failure, as well as ways to assess the strategies associated with the project to improve the probability of success. It will also demonstrate the processes and steps that are required for effective project risk management. Participants will recognize the signs that a project is at risk even before starting the work and can proactively make the necessary adjustments with the sponsors and stakeholders to reduce those risks. Additionally, participants will learn how to maximize the contribution from the team in regard to identifying, eliminating and remediating risks. This will ensure that greater awareness and attention is given to this area of the project beyond the project manager. In addition to being able to apply the techniques of risk management, participants will receive insight into the typical phases of automotive product development (Product Development, Process Development, Product and Process Validation, and Launch) and risks associated with these phases.
The eBook, “Project Management for Automotive Engineers: A Field Guide” by Jon M. Quigley and Roopa Shenoy, will be included in the course materials. The book includes risk management as a knowledge area and discusses how the better a project team is at finding and addressing the potential risks, the more likely the success of the project.
By participating in this web seminar, you should be able to:
- Identify the risks to project success based upon the structure and scope making it possible to create plans to address and mitigate the risk
- Calculate the probability of connected events and identify the probability of the chain of events
- Evaluate various proposed solutions through demonstrated techniques and project strategies and differentiate the least risky solution
- Diagram the risk management process
- Differentiate quantitative and qualitative risk evaluation techniques
- Explain the need for specific metrics associated with project and product risk
- Identify key metrics associated with risks and explain the needs for metrics
- Identify the monitoring process and then describe an effective monitoring scheme and the connection to metrics
- Define and calculate contingency budgets
- Build a risk register and debate / justify the severity and probability
Who Should Attend
This course addresses the needs of aspiring project managers, project managers, project engineers, manufacturing engineers and managers in the engineering, manufacturing, product testing and supplier quality assurance fields. It is helpful to be working in the automotive industry as a OEM or a tier 1 or tier 2 supplier as the risk discussion spans the gamut of the product development cycle for these industries.