Association for Project Management
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Smart Risk Management webinar

A look into Project Risk Management including CLP’s uplift journey and how to take Smart Risks through aspects such as People, Governance and Process. This webinar was held on 3 August 2022.

This webinar’s main purpose was to bring awareness to Project Risk Management and its importance to large and small-scale projects while considering three main aspects: attitude, relevance and know-how which require people, governance and processes to be successful.

Promoting the culture of taking “good risks”, clear structure and risk ownership as well as integrating smart risk management into project decision making is vital. For the last 12 months, CLP embarked on a new journey on Smart Project Risk Uplift which was aimed at enhancing practices across multiples disciplines of Mega Projects’ risk management.

This webinar delved into the five lessons learnt from the uplift program and provided practical examples. These lessons included:

  1. Enhancing Project culture aspects and how project teams perceive risk management.
  2. Improving the ability to analyse project risks in detail using the Risk Bow Tie analysis.
  3. Setting Risk Appetites to articulate acceptable exposure and to guide the development of appropriate treatment strategy.
  4. Utilising a Risk Focus group to heighten project governance collaboratively.
  5. Eliminating risk blind spots and be more equipped to manage extreme events.

The maturity of the project risk management practice was considerably improved in CLP. It not only provided us a better protection on the project delivery, but also created the discipline in exploring opportunities to achieve better project outcomes.

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