The best practices on how to turn a “troubled” project around and make better and faster risk management will be outlined next month at a series of seminars to be held in Qatar, Egypt and the UAE.

These seminars will present recommendations on better and faster risk management decisions, said Raed S. Haddad, senior vice president of Global Delivery Services at ESI International.

Haddad, a renowned project management expert, will present the top best practices in the areas of risk identification, risk analysis, risk mitigation, and risk evaluation and knowledge management in a presentation on “Root Causes for Project Failure – How to Leverage Risk Management Best Practices for Better Project Outcomes.”

Haddad will be delivering free breakfast seminars on November 8 (at the Intercontinental Hotel, Doha;) November 10 in Cairo at (Holiday Inn CityStars) and on November 11 at the Abu Dhabi Crowne Plaza during a Project Management Institute dinner.

“With budgets squeezed ever tighter and deadlines being pushed, project managers have to cut down on the unexpected surprises which put projects at risk,” he pointed out.

Illustrating the scale of the task, Haddad cited a recent report by research house Proleads Global showing more than $200 billion worth of projects on hold or cancelled in Gulf Arab countries in the oil, gas and petrochemical sectors.

'There is no shortage of literature documenting project failure rates,” Haddad said. “With success rates only around 40 to 50 per cent there is certainly plenty of room for improvement. To be sure, studies have shown that using a structured risk management approach can improve project success and reduce sub-par performance.'

'In a highly competitive business world, unrecognised, unplanned for, and unmitigated risks could sink a project, a company, or even a career,' he added.

Using results from ESI International’s recent survey in the Middle East on Project Management Success and Failure Reasons, Haddad will also provide an insight into the current challenges and how they differ from has been seen on a global basis.

In addition, he will highlight best practices on how to turn a “troubled” project around and present the top five tactical recommendations on how to make better and faster decisions to help implement risk management.-TradeArabia News Service