Thanks Indira. We've made progress in some of these areas in the past five years, but some aspects still need attention! Don't forget that you can get the slides for this talk - email me at davidrisk-doctor.com. Unfortunately the cameraman didn't get the screen in shot :-(
I have followed and read books and articles by Dr. Hillson (Risk Doctor) in my pursuit of an MSc Risk Management degree and this has helped me recognise the conflicts over how decisions are and should be made by providing in-depth knowledge on how to ultimately make a decision based upon a wide appreciation of issues. I am now able to evaluate the framework (IRGC, ISO 31000and others) that can be used to relate the functions of Risk Management and the actors that perform them, giving me a better understanding of process of decision making and factors which influence it. You really are the Risk Doctor. Thank you very much and keep up the good work.
Thanks for this encouraging & positive feedback Cyril. I'm delighted that some of my work has been useful to you. I've just started work on my next book, "An Executive Guide to Risky Decision-Making", which will give clear guidance on how to make a good decision in situations that are perceived to be both risky and important. Watch this space!!
I'm new to project management. I appreciate the audio portion of this video. There is a lot of useful information here. I just wish I could have seen the slides.
The teacher explained perfectly well with a challenging punch line of we being the change we desire...which is only achievable by taking risk. Thank you for adding more knowledge to my career growth.
I'm currently working my way through one of the good Dr's books - Exploiting Future Uncertainty , Creating Value From Risk. I must say it's an excellent source of knowledge for Risk Management. Very well structured and informative,
Thanks for this positive and encouraging comment Craig. I'm glad you're enjoying some of the Risk Doctor resources - lots more free stuff on our website www.risk-doctor.com, including videos, webinars, short briefings, articles etc. Enjoy! David
Thanks Antony, glad you like it. Email me at david[at]risk-doctor.com if you want the slides. Other good free stuff about risk on the Risk Doctor website!
Exactly! Implement Risk Responses has also been part of the risk process in the Body of Knowledge for the UK Association for Project Management (APM) for a few years. The standards world have got the message - now we need to make sure that practitioners actually do it!
I've just completed One of the Risk Dr's Publications - Exploiting Future uncertainty, Creating Value from Risk. I thoroughly recommend this book as its very informative and well laid out. It's interesting to note the vast amount Journals throughout the world citing Dr Hillson's work . I'm glad I read it as I feel I now have a great grounding in the subject. Thanks a lot .
Thanks for this encouraging comment Craig. I'm delighted that you enjoyed this book. I write a new book on risk each year, so there are now ten for you to explore! (details at risk-doctor.com/publications/publications-books). If anyone else is interested in Exploiting Future Uncertainty, full details are here: www.gowerpublishing.com/isbn/9781409460671.
I agree, it was a mistake, sorry. In the video description, I say this: "Sadly, the cameraman didn't include the screen in his shot, so you can't see the slides. If you'd like a copy of the slides, email David at david@risk-doctor.com and he'll send them to you." Please let me know if you'd like me to do this for you.
+Ateeq Khan. Thank you - I think! I'm pleased that you enjoyed this presentation. But I wouldn't describe risk management as "boring"! To me, it is risk that makes life and business and projects interesting! If everything just goes according to plan and we don't need to do anything creative or challenging, then that's boring!Also our ability to manage risk successfully is directly related to our ability to succeed. We plan to succeed, but then things happen that weren't in our plan or that we weren't ready for. If we had been able to see them in advance, then prepare for them, protect ourselves where possible, and position ourselves to deal with them if they arrived, then we would be more successful. That's what risk management is for!!!
@@Risk-Doctor Well Im just an ordinaly person with a big dream i mean a big dream for me and it is to open my shop or fast food . When I save up enough money an important perplexity will lay on my head whether to buy a house or to put money at risk as a fast food or shop cos there may not be the second chance .
@@MARIOista. Thanks for sharing some details about your dream. You are right, the decision will involve risk either way, including both opportunities and threats. The important first step is to be clear about your underlying objective - what lies behind the dream? For example, is it to make money, or to serve people, or to provide security for your family, or something else? The answer to this simple question may not be simple to find, but it will affect the final decision you make. Once you know your core objective, then you can assess the risks associated with each decision option, and choose the best path. As I said above, managing risk is a life skill!!
Thanks, and sadly you're right. What are we (you and I) going to do to change things??!! If we are in such a position, we need to act differently and model a better way. BTW MetaMorphys looks fascinating - I hope it goes well.
Great talk with clear, articulate examples; which are relevant to all aspects of business. The only gripe is that the illustrations used by the good Doctor are not seen in the frame-shots. Very similar approach to ISO 31000. Once again a great intro.
Dj Mr Cool Thanks for the positive comments. I agree that it's frustrating not to see the slides in shot. I'll send them on request - email me at address in video description.
Great presentation. I am interested to learn more about the overall project risk and how that is assessed and managed - do you cover that in more detail anywhere?
Thanks for your positive feedback Joanne. I wrote a paper on overall project risk in 2014, and you can download it here: risk-doctor.com/docs/NA14TLD09%20Hillson%20paper%20-%20How%20risky%20is%20your%20project.pdf. I hope this is helpful.
Thanks a lot , I just have one question . What is the best method / tool to identify risks in( policy/ legal , market and economy , operational risk ) of a manufacturing new project
Thanks Ibrahim, I'm glad you liked the video. There are many tools and techniques for identifying risks, and I suggest that you use a selection of methods to uncover risks - there is no "one best method"! I like to use ABC as a reminder: Assumptions Analysis (to review internal risks within the project scope), Brainstorming (a creative approach involving the project team and other stakeholders), Checklist (looking back over what was learned from previous similar projects). These three methods combine individual and group input, and focus on the present (Assumptions Analysis), future (Brainstorming), and past (Checklist). I hope this is helpful.
Thanks Sussan, I'm glad you liked this talk. Let's take the discussion on "personalisation of risk" offline - please email me at david@risk-doctor.com with a bit more detail of your enquiry and I'll give you an answer.
Thanks Nafi. There are lots of videos on the RiskDoctorVideo channel, and we try to add a few new ones each year. I hope you enjoy looking through what is here already. If you subscribe to the channel then you'll get a notification when a new video is uploaded.
Hi David, of course I already subscribed your channel on TH-cam, but I was asking if it is possible and if you have enough time to share with us short videos (4-5 minutes) on daily or weekly bases regarding: a. market risk b. credit risk c. operational risk d. reputation risk and other common risks I want to thank you personally, you have change the way of thinking towards risks. Continuously I watched your videos and I'm fascinated from them. Thank you so much again. I wish to you and your family all the best!
RiskDoctorVideo I am very thankful to you David, I already know that time for you is very important and very valuable but if you can post video on weekly bases it will be great for us. So we can improve our skills toward Risks that nowadays is very important and very crucial for monetary and fiscal crises (and especially for debt repayments and banking crises)! Kind regards and keep moving forward!...
Thanks Sekhara. The description below the video says "If you'd like a copy of the slides, email David at david@risk-doctor.com and he'll send them to you." Just let me know and I'll pass them on.
Thanks for the positive feedback, I'm glad you enjoyed it. I'm not quite sure what you mean by "critically analyse the concept of risk"? If you can clarify the question then perhaps I can answer it. Please email me at david@risk-doctor.com.
What an interesting comment!!! Do you mean the doctor in Le Docteur Amoureux, or the doctor in Le Medecin Malgre Lui?? I'll assume that your comment is meant to be positive!!! Many thanks.
Hello, you say in the begining that risk management is a science. If so, could you please advise me on scientific reviews (with reading committees) dealing with this subject. Thanks.
Damien Prevot Thanks for this good challenge Damien! Actually there is a whole science of risk, with a full academic grounding in research undertaken at universities around the globe, and with several top-rated academic journals devoted to the topic. The scientific approach started with Knight (1921), and has continued since then. More recently, Ulrich Beck developed risk thinking into the social science sphere with the idea of the risk society (1992). Daniel Kahneman won the Nobel Prize in 2002 for his work on risk psychology. I could go on...!Actually I think I said that risk is both science and art, didn't I?
Thanks Babak. I've been thinking about risk culture for a few years, and recently produced a more detailed paper on the topic, available on request. I also was part of the Institute of Risk Management (IRM) one-year research initiative on risk culture in 2012, details are here: www.theirm.org/knowledge-and-resources/thought-leadership/risk-culture/.
Thanks Art, glad you liked it. Send me an email or a request via the Contact page of the Risk Doctor website, and I'll send you the slides in pdf format.
Thank you Savita. The secret to a good presentation is to know your material really well, stick to what you know, and practise! I wish you success - please send me a link to your first successful presentation!
Thank you for this positive feedback Vekon. I agree, it was very frustrating when the cameraman didn't include the screen in his shot. But I'm happy to send out a copy of the slides if that would be helpful. Just send me an email at david@risk-doctor.com and I'll send them to you.
Thanks for this Brandon. You'll see this split-screen format in other videos on the RiskDoctorVideo channel, and I agree, it works well. In this case the event was recorded by an external supplier and we had no control over the result.
Hello, I'm learning in the field og Project and Program management. I've found your presentation really interesting. I appreciated both the contents and the teaching style. Could you send me the slides? Thanks in advance
Riccardo Bozzo Hi Riccardo, glad you like this presentation. If you give me your email address I'll send you the slides (my email is in the intro section above).
Simply sublime, Doctor. Very informative especially touching the smallest nuances that we tend to miss in everyday practice. Being a person in the embryonic stage of RM, would you recommend any particular books out of your myriad of publications? For starters, I was definitely thinking of your RM Handbook.
Hi Vetri, thank you for your positive and encouraging feedback. There are lots of great free resources on the Risk Doctor website, www.risk-doctor.com, including papers, short briefings, videos, webinars, podcasts etc.My risk books all cover different topics, so it's hard to recommend one without knowing your area of interest. If you're working in projects, then "Managing risk in projects" is the one. For more general interest, try "Exploiting future uncertainty". This flier gives discount codes for nearly all my books: risk-doctor.com/docs/THE%20RISK%20DOCTOR%20COLLECTION%20v5.pdfHope this helps. Happy reading!!
Hi Riskdoctor!. I am preparing risk management process for the Company in accordance with ISO 9001:2015, I just wonder if I apply the process like this video, is it too complicated? because our Company is so small (with the personnel is less than 20 and most of them is short employee) and there is only one main service. Is there any method of managing risk more simpler?. Thank you.
+Thuy Dung Trinh Hi - thanks for your enquiry. I suggest that you should aim to follow the steps in the "Process" part of this video, but maybe not to worry about some of the other more advanced areas that I discuss.The risk process is actually very simple, and you can follow it just by asking and answering a few questions. This is described in my "Risk management basics" video: th-cam.com/video/BLAEuVSAlVM/w-d-xo.html. One of my books also describes a risk methodology that can be applied to simple projects or small organisations. The method is called ATOM (Active Threat & Opportunity Management), the book is here: store.managementconcepts.com/ProductDetails.asp?ProductCode=001%2DB664. You can also find out more about ATOM at www.atom-risk.com/.I hope this helps.
Good point Antonio. I'll pass this feedback to the PM Channel. I hope you enjoyed the presentation, and that the logo was not a distraction from the content?!
Hello again Antonio. I met the CEO of the PM Channel (Dr Andrew Delo) in London last week, and I told him about your comment. He said he'd pass it on to their video editors, and consider reducing the size of the logo in future. Thanks again for your feedback.
Hello there. Wow, thank you! Another option could be to make it disappear after a few seconds, like the cursor does while on the screen, and reappears if the mouse is moved.
I am learning about financial risk for construction project. I have a problem with risk analysis software "crystal ball", can you share some details some information on risk analysis using simulation. Thanks!
what is the boards role towards risk management because according to the little data i got when i was doing my research it seemed as if all the directors do is put a risk management department
+Sermon Mazheve. Hi Sermon. Boards have a very important role in setting the tone for risk management in their organisation. They are responsible for shaping the risk culture of the organisation, as well as defining risk policy. If the organisation is listed, directors have a statutory obligation to understand and express their risk appetite for the business. There is a lot of guidance on risk available for senior leaders. As an example, I recommend that you look at the guidance for Boards on risk culture provided by the Institute for Risk Management (IRM), available here: www.theirm.org/knowledge-and-resources/thought-leadership/risk-culture.aspx. I hope this is helpful.
Hi, thanks for your comment. This video is not specifically aimed at helping people prepare for the PMI-RMP certification, although everything in the video is consistent with the exam content. Actually I was part of the Steering Group responsible for updating the PMI-RMP certification in 2012, and this video was recorded in 2013, so it's perhaps not surprising that they are aligned! I've just completed recording a PMI-RMP video prep series with Praizion Media (praizionmedia.com/praizion/), and this should be released in mid-June 2018. This series covers each domain and task in the PMI-RMP specification, and it's packed with tips and hints that will help you prepare and maximise your chances of passing. Why not drop me an email at david@risk-doctor.com and I'll let you know when the series is launched.
Hi Soundar. The book is called "Managing risk in projects", and you can buy it online from the publishers here: www.routledge.com/products/9780566088674I hope this is helpful.
So If I'm understanding correctly what makes risk management successful is when those risks are identified and processes executed to see the end result of the impact?
Vanessa Klinger Exactly Vanessa, you've got it! Risk management works when we actually manage risks (obviously)! But that means we need to identify the real risks, describe them clearly, assess & prioritise them objectively, develop & implement appropriate responses, and tell people about it. And those steps are what the risk process does. It's easy!!!
+omar redwan . Hi Omar. I'm not sure which exam you mean? You can find the Risk Doctor Recommended Reading List on Links page of our website, or here: risk-doctor.com/docs/RDP%20Risk%20references%201401.pdf
Hi Miriam. The introduction text below the video gives my email address where you can request the slides. (You may need to press "Show More" to see it.) Send me an email and I'll send you the slides.
A++ Great job Doc! Hope we can work on something soon! Thanks for the lesson! Why would anyone rate such a top notch video down? 11 risk ill-informed non-PMs!
Thanks Phill, I appreciate your encouragement. Maybe the 11 who disliked the video were complaining that you can't see the slides? I was disappointed by that too - which is why I offer to send the slides by email to anyone who asks for them. (Send a request to david@risk-doctor.com.)Yes, happy to explore doing something together - drop me an email with your suggestions.I saw your video mentioning the recent publication of the PMBOK Guide Sixth Edition - did you know I was the Vice Chair of the update project to produce that edition?! Hope you like it!!
Thanks David! I like watching your gestures and body language and in some instances where you show the audience. I noticed newer videos include slides. Nice addition for users. Re: the new guide....I had no idea! Great job for that. I was particularly excited about the new Risk Management process and all the great leadership additions. I was wondering earlier today, will the Risk Management Standard change to reflect that soon? I'll drop you a line. Cheers!
I'm glad you found the gestures and body language interesting - but I hope you also enjoyed the content?!!!Yes, let's be in touch separately on other matters. For PMBOK6, I was Vice Chair of the whole project, but also responsible for updating the risk chapter (of course), with a team of other SMEs. I think we made good progress in reflecting current developments.
Absolutely rock solid content as usual in ALL your videos Doc! I was especially looking forward to Chapter 11 in the PMBOK Guide. You and the team did it justice.
Hi Art. The website is included in the comments for this video, just click "more" and you'll see it. My email is also there - drop me a request and I'll send you the slides. Glad you liked the talk. David
+omar redwan . OK. The PMBOK Guide Chapter 11 is essential, and the PMI Practice Standard for Project Risk Management as well. You should also be familiar with ISO 31000. There are many good textbooks available, and my 2009 book "Managing risk in projects" covers the main points. Apart from studying and reading books, it is really important for you to have genuinely relevant experience of managing risk in projects, as the exam will test your practical knowledge of how to do it.I hope this is helpful, and I wish you success in the exam.
Hi Muhammad - I agree, it was very disappointing that the camera angle didn't include the slides. I can send you a copy of the slides if you'd like to see them, just email me at davidrisk-doctor.com.
Great content and speaker. Exceptionally *poor* videography. Unable to see or read slides, camera follows a fastly moving presenter resulting in jarring, distracting camera movement, and cameraman does not use (or know how to use) the zoom or even tilt the camera up so we can see the board. I missed *a lot* of important info because of this. Also, the placement of the PM Channel logo is bad as it covers important content. Very disappointing.
Thanks Joe, and you're absolutely right, the recording is very disappointing. I uploaded it because it was the first time I'd presented this important material, and I do offer the slides (see description text under the video). Also over 88,000 people have watched it since 2013, with 660 likes and only 24 dislikes. But perhaps I should delete it from the RiskDoctorVideo channel (or maybe just hide it from public view), as it doesn't offer a good viewing experience. Thanks again for your feedback. David
OK this video is now "Unlisted", but you can see the same material with better camera work here: th-cam.com/video/SCb8p4OJa9I/w-d-xo.html. There were two cameras and they cut sensibly between the screen and the speaker. Thanks again Joe.
Thanks very much, Let me know if you want to see the slides - email to david [at] risk-doctor[dot]com. More videos on the Risk Doctor website, as well as webinars, papers etc, all free.
I've always wondered how could overall project risk be different from sum total of individual project risks. Now this presentation clarifies on that. But I do not agree with him that PMBOK never speaks about managing risks actively. It speaks about identifying root causes of risks, defining risk triggers and automatically putting into action the risk response the moment a risk trigger happens. It is not a 'process', its only a contingency risk response. Likewise he is wrong when he says that PMBOK does not bring risk process to an end and it goes on and on in circles. Thats not true. Every risk is either retired or upgraded depending on a dynamic risk reassessment process. Thats a control process. And every risk response plan is closed through a risk audit that compares how risk response plan was implemented with what was actually planned and the reasons for variance. These are 'lessons learnt' he is looking for. Otherwise Risk Doctor looks like a hypochondriac himself -- convinced about symptoms which are not there. Risk Doctor, take a closer look at PMBOK. I liked the way he categorized risk. Thats completely original and great. I enjoyed this video, overall.
+ramesh pb . Hi Ramesh, thanks for taking time to provide your detailed feedback. I'm glad you liked this video overall. But I think you may have misunderstood my point about the circular risk process as portrayed in the PMBOK Guide Chapter 11. I'm not saying that individual risks are never closed, but that the risk process itself is presented as continuous with no obvious end-point. I might mention that I've been part of the team updating the PMBOK Guide risk chapter since the year 2000, so I am very familiar with its contents and intention!
+Assylbek Zhumadyrov. I'm sorry that this presentation didn't provide anything new for you Assylbek. I guess you are more advanced in your understanding and practice of risk management than most. In my experience, people, project teams and organisations and frequently operating with a flowed concept of risk, using an inadequate risk process, and not taking human psychology into account. I hope you find opportunity to share your more mature approach with others.
Posted in 2013 and still very useful
Thanks Indira. We've made progress in some of these areas in the past five years, but some aspects still need attention!
Don't forget that you can get the slides for this talk - email me at davidrisk-doctor.com. Unfortunately the cameraman didn't get the screen in shot :-(
RiskDoctorVideo thank you
I have followed and read books and articles by Dr. Hillson (Risk Doctor) in my pursuit of an MSc Risk Management degree and this has helped me recognise the conflicts over how decisions are and should be made by providing in-depth knowledge on how to ultimately make a decision based upon a wide appreciation of issues.
I am now able to evaluate the framework (IRGC, ISO 31000and others) that can be used to relate the functions of Risk Management and the actors that perform them, giving me a better understanding of process of decision making and factors which influence it.
You really are the Risk Doctor. Thank you very much and keep up the good work.
Thanks for this encouraging & positive feedback Cyril. I'm delighted that some of my work has been useful to you. I've just started work on my next book, "An Executive Guide to Risky Decision-Making", which will give clear guidance on how to make a good decision in situations that are perceived to be both risky and important. Watch this space!!
I'm new to project management. I appreciate the audio portion of this video. There is a lot of useful information here. I just wish I could have seen the slides.
Hi Kev. As I say in the video description, I'll send you the slides if you send me your email address.
Great lecture. I've learned more in this one seminar than an entire 2 weeks of PMBOK review.
Thanks Danny, that's really encouraging. Let me know if we can help in any other way (david@risk-doctor.com).
The teacher explained perfectly well with a challenging punch line of we being the change we desire...which is only achievable by taking risk. Thank you for adding more knowledge to my career growth.
You're right, this is a powerful statement from Ghandi: "You must be the change you wish to see in the world.
"
I am new to the profession of Risk Management, and I found this video extremely useful and thought provoking. Thank you
I'm glad to hear that Matthew. Six years later, you're not so new to the risk profession - I hope it's going well?!
I'm currently working my way through one of the good Dr's books - Exploiting Future Uncertainty , Creating Value From Risk. I must say it's an excellent source of knowledge for Risk Management. Very well structured and informative,
Thanks for this positive and encouraging comment Craig. I'm glad you're enjoying some of the Risk Doctor resources - lots more free stuff on our website www.risk-doctor.com, including videos, webinars, short briefings, articles etc. Enjoy!
David
it is really fantastic to understand and very simple language to understand. thank you very much to Mr.RiskDoctor.
Thanks Antony, glad you like it. Email me at david[at]risk-doctor.com if you want the slides. Other good free stuff about risk on the Risk Doctor website!
Great lecture. Found gap in PMBOK Risk managment process in 2013 and PMI brought in Implement Risk Response process in PMBOK6 in 2017 end.
Exactly! Implement Risk Responses has also been part of the risk process in the Body of Knowledge for the UK Association for Project Management (APM) for a few years. The standards world have got the message - now we need to make sure that practitioners actually do it!
I am a big fan of yours !!! Financial intelligence was never so interesting until i followed all your videos !!!
Thank you Harshada. I am very encouraged by your enthusiastic support!
I've just completed One of the Risk Dr's Publications - Exploiting Future uncertainty, Creating Value from Risk. I thoroughly recommend this book as its very informative and well laid out. It's interesting to note the vast amount Journals throughout the world citing Dr Hillson's work . I'm glad I read it as I feel I now have a great grounding in the subject. Thanks a lot .
Thanks for this encouraging comment Craig. I'm delighted that you enjoyed this book. I write a new book on risk each year, so there are now ten for you to explore! (details at risk-doctor.com/publications/publications-books).
If anyone else is interested in Exploiting Future Uncertainty, full details are here: www.gowerpublishing.com/isbn/9781409460671.
I really enjoyed this presentation, it was delivered in a very informative way. Looking forward to watching the other presentations you have.
Thanks a lot.
Amazing lecture, thank you david, but why doesn't the camera man show the slides as a whole and not just follow Doctor Hillson.
I agree, it was a mistake, sorry. In the video description, I say this:
"Sadly, the cameraman didn't include the screen in his shot, so you can't see the slides. If you'd like a copy of the slides, email David at david@risk-doctor.com and he'll send them to you."
Please let me know if you'd like me to do this for you.
Great Presentation...very interesting way to describe very boring risk management
+Ateeq Khan. Thank you - I think! I'm pleased that you enjoyed this presentation. But I wouldn't describe risk management as "boring"! To me, it is risk that makes life and business and projects interesting! If everything just goes according to plan and we don't need to do anything creative or challenging, then that's boring!Also our ability to manage risk successfully is directly related to our ability to succeed. We plan to succeed, but then things happen that weren't in our plan or that we weren't ready for. If we had been able to see them in advance, then prepare for them, protect ourselves where possible, and position ourselves to deal with them if they arrived, then we would be more successful. That's what risk management is for!!!
It's very useful to watch this video It helps me to make a small progress in my life .
Thanks Mario, I'm glad it was useful to you in your life, and not just in your projects. Managing risk is a life skill!
@@Risk-Doctor Well Im just an ordinaly person with a big dream i mean a big dream for me and it is to open my shop or fast food . When I save up enough money an important perplexity will lay on my head whether to buy a house or to put money at risk as a fast food or shop cos there may not be the second chance .
@@MARIOista. Thanks for sharing some details about your dream. You are right, the decision will involve risk either way, including both opportunities and threats. The important first step is to be clear about your underlying objective - what lies behind the dream? For example, is it to make money, or to serve people, or to provide security for your family, or something else? The answer to this simple question may not be simple to find, but it will affect the final decision you make. Once you know your core objective, then you can assess the risks associated with each decision option, and choose the best path. As I said above, managing risk is a life skill!!
@@Risk-Doctor thank you Sir .
Excellent video and a real help with my engineering assignment on the subject!
+Chris Spitta . Thanks Chris, I'm pleased to hear that this was useful for you. Good luck with your assignment!
Watching in 2022 it still applies more than ever we see people in the position of trust and power being ridiculous in managing risk...
Thanks, and sadly you're right. What are we (you and I) going to do to change things??!! If we are in such a position, we need to act differently and model a better way.
BTW MetaMorphys looks fascinating - I hope it goes well.
"There might not be a ruble in 2030". Well this was prophetic!
Hmm...!!
Great speech, Great delivery. Great and inspiring content.
John Graham Thanks John, glad you liked it. Slides available on request!
Great delivery of a very interesting topic.
+Denise McDonald . Thanks Denise, I'm glad you liked it!
Great talk with clear, articulate examples; which are relevant to all aspects of business.
The only gripe is that the illustrations used by the good Doctor are not seen in the frame-shots.
Very similar approach to ISO 31000.
Once again a great intro.
Dj Mr Cool Thanks for the positive comments. I agree that it's frustrating not to see the slides in shot. I'll send them on request - email me at address in video description.
An absolutely valuable lecture. Learned a lot from it. Thank you sir!
Thanks Mahesh.
Professional! Excellent presentation..
Thanks Fred, I appreciate this encouraging and positive response.
Great presentation. I am interested to learn more about the overall project risk and how that is assessed and managed - do you cover that in more detail anywhere?
Thanks for your positive feedback Joanne. I wrote a paper on overall project risk in 2014, and you can download it here: risk-doctor.com/docs/NA14TLD09%20Hillson%20paper%20-%20How%20risky%20is%20your%20project.pdf. I hope this is helpful.
Good video, interesting and easy to understand!
Thanks Donney, I'm glad you liked this one.
Very Very informative and great presenter. Thanks for sharing
+Ainsley McFarlane Thanks Ainsley, glad you liked it.
Thanks a lot , I just have one question . What is the best method / tool to identify risks in( policy/ legal , market and economy , operational risk ) of a manufacturing new project
Thanks Ibrahim, I'm glad you liked the video. There are many tools and techniques for identifying risks, and I suggest that you use a selection of methods to uncover risks - there is no "one best method"!
I like to use ABC as a reminder: Assumptions Analysis (to review internal risks within the project scope), Brainstorming (a creative approach involving the project team and other stakeholders), Checklist (looking back over what was learned from previous similar projects). These three methods combine individual and group input, and focus on the present (Assumptions Analysis), future (Brainstorming), and past (Checklist).
I hope this is helpful.
Hi doctor, great presentation, please can you explain the concept of personalisation of risk as it relates to managing a project.
Thanks
Thanks Sussan, I'm glad you liked this talk. Let's take the discussion on "personalisation of risk" offline - please email me at david@risk-doctor.com with a bit more detail of your enquiry and I'll give you an answer.
Useful video, I thank you so much RiskDoctor, I hope that you will do much more videos in near future.
Thanks Nafi. There are lots of videos on the RiskDoctorVideo channel, and we try to add a few new ones each year. I hope you enjoy looking through what is here already. If you subscribe to the channel then you'll get a notification when a new video is uploaded.
Hi David, of course I already subscribed your channel on TH-cam, but I was asking if it is possible and if you have enough time to share with us short videos (4-5 minutes) on daily or weekly bases regarding:
a. market risk
b. credit risk
c. operational risk
d. reputation risk and other common risks
I want to thank you personally, you have change the way of thinking towards risks. Continuously I watched your videos and I'm fascinated from them. Thank you so much again. I wish to you and your family all the best!
Thank you Nafi. This is a good idea, and I'll certainly consider it. Perhaps daily would be too frequent though.
RiskDoctorVideo I am very thankful to you David, I already know that time for you is very important and very valuable but if you can post video on weekly bases it will be great for us. So we can improve our skills toward Risks that nowadays is very important and very crucial for monetary and fiscal crises (and especially for debt repayments and banking crises)!
Kind regards and keep moving forward!...
very informative ...Thank you for sharing - where can I get slides / pdf?
Thanks Sekhara. The description below the video says "If you'd like a copy of the slides, email David at david@risk-doctor.com and he'll send them to you." Just let me know and I'll pass them on.
Hi this was very helpful.Could you please explain how to critically analyse the concept of risk? Thanks
Thanks for the positive feedback, I'm glad you enjoyed it.
I'm not quite sure what you mean by "critically analyse the concept of risk"? If you can clarify the question then perhaps I can answer it. Please email me at david@risk-doctor.com.
Doctor expert Risk management !!
This is like the doctor in Molière Theater !!
What an interesting comment!!! Do you mean the doctor in Le Docteur Amoureux, or the doctor in Le Medecin Malgre Lui?? I'll assume that your comment is meant to be positive!!! Many thanks.
Hello, you say in the begining that risk management is a science. If so, could you please advise me on scientific reviews (with reading committees) dealing with this subject. Thanks.
Damien Prevot Thanks for this good challenge Damien! Actually there is a whole science of risk, with a full academic grounding in research undertaken at universities around the globe, and with several top-rated academic journals devoted to the topic. The scientific approach started with Knight (1921), and has continued since then. More recently, Ulrich Beck developed risk thinking into the social science sphere with the idea of the risk society (1992). Daniel Kahneman won the Nobel Prize in 2002 for his work on risk psychology. I could go on...!Actually I think I said that risk is both science and art, didn't I?
wonderful, specially the risk culture part in project
Thanks Babak. I've been thinking about risk culture for a few years, and recently produced a more detailed paper on the topic, available on request. I also was part of the Institute of Risk Management (IRM) one-year research initiative on risk culture in 2012, details are here: www.theirm.org/knowledge-and-resources/thought-leadership/risk-culture/.
Thanks Art, glad you liked it. Send me an email or a request via the Contact page of the Risk Doctor website, and I'll send you the slides in pdf format.
Very descriptive video and I loved your presentation skills. Hope i will be able to do same with same level of confidence one day.
Thank you Savita. The secret to a good presentation is to know your material really well, stick to what you know, and practise! I wish you success - please send me a link to your first successful presentation!
Good Topic and and very good Presentation. I wish camera would have been targeting slides / content rather than targeting continuously the speaker.
Thank you for this positive feedback Vekon. I agree, it was very frustrating when the cameraman didn't include the screen in his shot. But I'm happy to send out a copy of the slides if that would be helpful. Just send me an email at david@risk-doctor.com and I'll send them to you.
I film professionally for speakers, and I use a software that does a split-screen view of the camera and their powerpoint called Wirecast.
Thanks for this Brandon. You'll see this split-screen format in other videos on the RiskDoctorVideo channel, and I agree, it works well. In this case the event was recorded by an external supplier and we had no control over the result.
Hello, I'm learning in the field og Project and Program management. I've found your presentation really interesting. I appreciated both the contents and the teaching style. Could you send me the slides?
Thanks in advance
Riccardo Bozzo Hi Riccardo, glad you like this presentation. If you give me your email address I'll send you the slides (my email is in the intro section above).
Simply sublime, Doctor. Very informative especially touching the smallest nuances that we tend to miss in everyday practice. Being a person in the embryonic stage of RM, would you recommend any particular books out of your myriad of publications? For starters, I was definitely thinking of your RM Handbook.
Hi Vetri, thank you for your positive and encouraging feedback. There are lots of great free resources on the Risk Doctor website, www.risk-doctor.com, including papers, short briefings, videos, webinars, podcasts etc.My risk books all cover different topics, so it's hard to recommend one without knowing your area of interest. If you're working in projects, then "Managing risk in projects" is the one. For more general interest, try "Exploiting future uncertainty". This flier gives discount codes for nearly all my books: risk-doctor.com/docs/THE%20RISK%20DOCTOR%20COLLECTION%20v5.pdfHope this helps. Happy reading!!
Don't mind me, I'm just reminding myself where I paused it. 20:12 . Great lecture btw. Really enjoying it.
Glad you enjoyed it enough to come back to hear the end! Let me know if you want to see the slides.
Interested in seeing those slides David :)
@@Risk-Doctor yes. I too found this most informative. Please do upload the slides or share?
Thank you Bharathy. Send me an email to david@risk-doctor.com and I'll be happy to pass on the slides to you.
very precise indeed thanks for sharing
Thanks Katim, I'm glad you enjoyed this presentation.
Has any body wrote the lecture down ? They are very useful for me
Hi Alireza. No, this presentation is only available as a spoken talk, not written down. It's different every time I share it!!
Hello is it still possible to get the slides? I really found this useful
Hi Rochel. I've just seen your question - sorry for the delay. Yes, slides are still available, send your email address to contact@risk-doctor.com
Hi Riskdoctor!. I am preparing risk management process for the Company in accordance with ISO 9001:2015, I just wonder if I apply the process like this video, is it too complicated? because our Company is so small (with the personnel is less than 20 and most of them is short employee) and there is only one main service. Is there any method of managing risk more simpler?. Thank you.
+Thuy Dung Trinh Hi - thanks for your enquiry. I suggest that you should aim to follow the steps in the "Process" part of this video, but maybe not to worry about some of the other more advanced areas that I discuss.The risk process is actually very simple, and you can follow it just by asking and answering a few questions. This is described in my "Risk management basics" video: th-cam.com/video/BLAEuVSAlVM/w-d-xo.html. One of my books also describes a risk methodology that can be applied to simple projects or small organisations. The method is called ATOM (Active Threat & Opportunity Management), the book is here: store.managementconcepts.com/ProductDetails.asp?ProductCode=001%2DB664. You can also find out more about ATOM at www.atom-risk.com/.I hope this helps.
The PM Channel should consider redesigning their logo on the screen. It occupies valuable screen real estate.
Good point Antonio. I'll pass this feedback to the PM Channel. I hope you enjoyed the presentation, and that the logo was not a distraction from the content?!
Hello again Antonio. I met the CEO of the PM Channel (Dr Andrew Delo) in London last week, and I told him about your comment. He said he'd pass it on to their video editors, and consider reducing the size of the logo in future. Thanks again for your feedback.
Hello there. Wow, thank you! Another option could be to make it disappear after a few seconds, like the cursor does while on the screen, and reappears if the mouse is moved.
Great lecture! Where can I find the slides you mentioned? What's the web address?
Thanks
Slides are available on request from the email in the video description - they're not available online.
thank you so much Dr Risk
+Agesa lumbila. You're welcome Agesa, I hope you enjoyed the video.
I am learning about financial risk for construction project. I have a problem with risk analysis software "crystal ball", can you share some details some information on risk analysis using simulation. Thanks!
Hi Trang, thank you for your comment. Please email me at contact@risk-doctor.com and we can discuss this privately. Thanks, David
what is the boards role towards risk management because according to the little data i got when i was doing my research it seemed as if all the directors do is put a risk management department
+Sermon Mazheve. Hi Sermon. Boards have a very important role in setting the tone for risk management in their organisation. They are responsible for shaping the risk culture of the organisation, as well as defining risk policy. If the organisation is listed, directors have a statutory obligation to understand and express their risk appetite for the business. There is a lot of guidance on risk available for senior leaders. As an example, I recommend that you look at the guidance for Boards on risk culture provided by the Institute for Risk Management (IRM), available here: www.theirm.org/knowledge-and-resources/thought-leadership/risk-culture.aspx. I hope this is helpful.
Does anyone know how this video helps you prepare for the PMP-RMP?
Hi, thanks for your comment. This video is not specifically aimed at helping people prepare for the PMI-RMP certification, although everything in the video is consistent with the exam content. Actually I was part of the Steering Group responsible for updating the PMI-RMP certification in 2012, and this video was recorded in 2013, so it's perhaps not surprising that they are aligned!
I've just completed recording a PMI-RMP video prep series with Praizion Media (praizionmedia.com/praizion/), and this should be released in mid-June 2018. This series covers each domain and task in the PMI-RMP specification, and it's packed with tips and hints that will help you prepare and maximise your chances of passing. Why not drop me an email at david@risk-doctor.com and I'll let you know when the series is launched.
Hi, May i know the Book you have recommended ? I am not able see that book name.
Hi Soundar. The book is called "Managing risk in projects", and you can buy it online from the publishers here: www.routledge.com/products/9780566088674I hope this is helpful.
Thanks
So If I'm understanding correctly what makes risk management successful is when those risks are identified and processes executed to see the end result of the impact?
Vanessa Klinger Exactly Vanessa, you've got it! Risk management works when we actually manage risks (obviously)! But that means we need to identify the real risks, describe them clearly, assess & prioritise them objectively, develop & implement appropriate responses, and tell people about it. And those steps are what the risk process does. It's easy!!!
Many Thanks I will continue watching all of your videos as I'm a PM in progress.
Mr. David, I would like to ask you to advise me books that relates to risk to help me increase my knlowdge and pass the exam
+omar redwan . Hi Omar. I'm not sure which exam you mean? You can find the Risk Doctor Recommended Reading List on Links page of our website, or here: risk-doctor.com/docs/RDP%20Risk%20references%201401.pdf
Where can I find the powerpoint slides?
Hi Miriam. The introduction text below the video gives my email address where you can request the slides. (You may need to press "Show More" to see it.) Send me an email and I'll send you the slides.
Awesome!
+YM . Thank you for your encouragement and support Yasir!
good insights
Thanks Ngon, glad you liked it. There are more free videos on the Risk Doctor website, plus webinars, podcasts and articles - www.risk-doctor.com.
A++ Great job Doc! Hope we can work on something soon! Thanks for the lesson!
Why would anyone rate such a top notch video down? 11 risk ill-informed non-PMs!
Thanks Phill, I appreciate your encouragement. Maybe the 11 who disliked the video were complaining that you can't see the slides? I was disappointed by that too - which is why I offer to send the slides by email to anyone who asks for them. (Send a request to david@risk-doctor.com.)Yes, happy to explore doing something together - drop me an email with your suggestions.I saw your video mentioning the recent publication of the PMBOK Guide Sixth Edition - did you know I was the Vice Chair of the update project to produce that edition?! Hope you like it!!
Thanks David! I like watching your gestures and body language and in some instances where you show the audience. I noticed newer videos include slides. Nice addition for users.
Re: the new guide....I had no idea! Great job for that. I was particularly excited about the new Risk Management process and all the great leadership additions.
I was wondering earlier today, will the Risk Management Standard change to reflect that soon? I'll drop you a line. Cheers!
I'm glad you found the gestures and body language interesting - but I hope you also enjoyed the content?!!!Yes, let's be in touch separately on other matters. For PMBOK6, I was Vice Chair of the whole project, but also responsible for updating the risk chapter (of course), with a team of other SMEs. I think we made good progress in reflecting current developments.
Also... the PMI Practice Standard for Project Risk Management is currently being updated. I'm not on that team, but I'm sure they'll refer to PMBOK6.
Absolutely rock solid content as usual in ALL your videos Doc!
I was especially looking forward to Chapter 11 in the PMBOK Guide. You and the team did it justice.
Risk occurs when the future outcome or event is not certain.
That's correct Mutana (and I'm very sorry for this extremely late reply).
Hi Art. The website is included in the comments for this video, just click "more" and you'll see it. My email is also there - drop me a request and I'll send you the slides. Glad you liked the talk.
David
I like his tie
Is that the only thing you like?!
I am preparing a project management assignment, can anyone can help me? some details, ecourage ,..ect
Hi Phung Phung, perhaps we can help you. Please send us an email with details of your assignment, to contact@risk-doctor.com.
RiskDoctorVideo thanks so much for your help.Now I will send you my assignment by email.
I meant the risk mangment exam, PMI
+omar redwan . OK. The PMBOK Guide Chapter 11 is essential, and the PMI Practice Standard for Project Risk Management as well. You should also be familiar with ISO 31000. There are many good textbooks available, and my 2009 book "Managing risk in projects" covers the main points. Apart from studying and reading books, it is really important for you to have genuinely relevant experience of managing risk in projects, as the exam will test your practical knowledge of how to do it.I hope this is helpful, and I wish you success in the exam.
This cameraman should go to jail, for not focusing on slides
Hi Muhammad - I agree, it was very disappointing that the camera angle didn't include the slides. I can send you a copy of the slides if you'd like to see them, just email me at davidrisk-doctor.com.
Great content and speaker. Exceptionally *poor* videography. Unable to see or read slides, camera follows a fastly moving presenter resulting in jarring, distracting camera movement, and cameraman does not use (or know how to use) the zoom or even tilt the camera up so we can see the board. I missed *a lot* of important info because of this. Also, the placement of the PM Channel logo is bad as it covers important content. Very disappointing.
Thanks Joe, and you're absolutely right, the recording is very disappointing. I uploaded it because it was the first time I'd presented this important material, and I do offer the slides (see description text under the video). Also over 88,000 people have watched it since 2013, with 660 likes and only 24 dislikes. But perhaps I should delete it from the RiskDoctorVideo channel (or maybe just hide it from public view), as it doesn't offer a good viewing experience. Thanks again for your feedback. David
OK this video is now "Unlisted", but you can see the same material with better camera work here: th-cam.com/video/SCb8p4OJa9I/w-d-xo.html. There were two cameras and they cut sensibly between the screen and the speaker. Thanks again Joe.
Thanks very much, Let me know if you want to see the slides - email to david [at] risk-doctor[dot]com. More videos on the Risk Doctor website, as well as webinars, papers etc, all free.
I've always wondered how could overall project risk be different from sum total of individual project risks. Now this presentation clarifies on that. But I do not agree with him that PMBOK never speaks about managing risks actively. It speaks about identifying root causes of risks, defining risk triggers and automatically putting into action the risk response the moment a risk trigger happens. It is not a 'process', its only a contingency risk response. Likewise he is wrong when he says that PMBOK does not bring risk process to an end and it goes on and on in circles. Thats not true. Every risk is either retired or upgraded depending on a dynamic risk reassessment process. Thats a control process. And every risk response plan is closed through a risk audit that compares how risk response plan was implemented with what was actually planned and the reasons for variance. These are 'lessons learnt' he is looking for. Otherwise Risk Doctor looks like a hypochondriac himself -- convinced about symptoms which are not there. Risk Doctor, take a closer look at PMBOK. I liked the way he categorized risk. Thats completely original and great. I enjoyed this video, overall.
+ramesh pb . Hi Ramesh, thanks for taking time to provide your detailed feedback. I'm glad you liked this video overall. But I think you may have misunderstood my point about the circular risk process as portrayed in the PMBOK Guide Chapter 11. I'm not saying that individual risks are never closed, but that the risk process itself is presented as continuous with no obvious end-point. I might mention that I've been part of the team updating the PMBOK Guide risk chapter since the year 2000, so I am very familiar with its contents and intention!
too obvious things. Not interesting at all
+Assylbek Zhumadyrov. I'm sorry that this presentation didn't provide anything new for you Assylbek. I guess you are more advanced in your understanding and practice of risk management than most. In my experience, people, project teams and organisations and frequently operating with a flowed concept of risk, using an inadequate risk process, and not taking human psychology into account. I hope you find opportunity to share your more mature approach with others.
i am sorry for being too hursh. I am certified PM and maybe this video is not for me :-) But still you are good presenter
+Assylbek Zhumadyrov. No problem :-) Perhaps one or two of the other videos might suit you better?!