PMI EMEA Congress 2018

The project management literature is not particularly clear on reserves. There are specialised methods, confusing differences in terminology, and conceptual approaches that are not easy to apply. Yet, contingency and management reserves are important to be in a position to address the inevitable risks and challenges in managing a project. This presentation will clear up the uncertainty: explaining what are reserves, why we have them, how to develop them, and when to use them.


At the conclusion of this session, participants will be able to:
(1) explain what reserves are, why we have them on projects, and how they fit into your overall risk management;
(2) describe how to create and use reserves—and when to perform these activities.

**An encore of this session is available on Wednesday, 9 May, 10.30 (#607).

Systemic risks are seldom considered by project teams when risk assessments are done, yet systemic risks are very often the cause of spectacular project overruns. Systemic risks include factors such as speed of decision making, project team competence, project management methodologies, and the socioeconomic environment. This presentation shows how machine learning in the form of artificial neural networks can be used to predict the impact of systemic risks on a project.


At the conclusion of this session, participants will be able to:
(1) identify and classify the systemic risks that may impact your projects;
(2) use artificial neural networks to model systemic risks and predict their time and cost impacts to your projects.

**An encore of this session is available on Tuesday, 8 May, 13.30 [#510].

Systemic risks are seldom considered by project teams when risk assessments are done, yet systemic risks are very often the cause of spectacular project overruns. Systemic risks include factors such as speed of decision making, project team competence, project management methodologies, and the socioeconomic environment. This presentation shows how machine learning in the form of artificial neural networks can be used to predict the impact of systemic risks on a project.


At the conclusion of this session, participants will be able to:
(1) identify and classify the systemic risks that may impact your projects;
(2) use artificial neural networks to model systemic risks and predict their time and cost impacts to your projects.