09Dec2013
19 September 2012 Pines Manor Edison

The Big Dig:  Megaprojects and Risk Management


PDP Information:
Program Number: C020-19092012
Program Title:   The Big Dig:  Megaprojects and Risk Management
PDUs: 1.5
Category: A
Activity Sponsor: PMINJ Chapter (C020)

The meeting slides can be downloaded.
 

Pictures

 

Virginia A. Greiman

  Boston’s $14.9 billion dollar Central Artery/Tunnel Project, commonly known as the Big Dig, was the largest, most complex, and technically challenging highway project in American history. Larger than the Panama Canal, the Hoover Dam and the Alaska Pipeline projects, it was built through the heart of one of the nation’s oldest cities.

As the country’s largest and most complex infrastructure project, the lessons learned from the Big Dig present an excellent template for identifying, assessing, monitoring and controlling risk. This presentation will provide an overview of the nuts and bolts of developing a risk management program for a large mega project including an analysis of common and unique risks on mega projects, risk allocation, risk sharing and transfer and state of the art mechanisms to help project managers address the challenges and complexities of project risk to prevent disastrous failures and assure project success. The Big Dig had many successes, but also many failures.

What were the biggest mistakes on the Big Dig? How could these problems have been overcome? According to the Big Dig’s engineers and independent consultants, damage was all but inevitable based on the huge risks undertaken. The Big Dig’s former risk manager will describe the innovative techniques utilized to address these daily concerns, and the lessons learned from this unique undertaking. The Big Dig’s story is an invaluable lesson: How can America invest in infrastructure—and do it smart?

Virginia A. Greiman, PMP, Professor of Project Management, Boston University
Professor Greiman has more than 20 years of experience in international project finance and development in both developed and transition economies and is a recognized expert in mega project management and finance, risk management, legal reform, and privatization. She is an Assistant Professor at Boston University in project and program management and planning, and holds teaching appointments at Harvard and Boston University Law Schools and the Kennedy School of Government. She previously served as Deputy Chief Legal Counsel and Risk Manager to Boston's $14.9 billion dollar Central Artery/Tunnel Project (The Big Dig) and as international legal counsel to the US Department of State, the US Agency for International Development and the World Bank in Eastern and Central Europe, Africa and Asia on privatization, infrastructure development and legal reform projects. Prior appointments include serving as United States Trustee to the U.S. Department of Justice where she oversaw the reorganizations of Seabrook Nuclear Power Plant and the Bank of New England. She has published extensively and lectures internationally on project management and risk management, project complexity and infrastructure development. She is a certified PMP and a member of the legal bars of Virginia, D.C. and Massachusetts.

Networking Program:

Topic:  Strategic Networking  

To be successful in your business you need a strategic plan; the same is true if you want to be successful in networking.  Strategic planning can be complicated, but the simple model has five steps:

  1. Identify your purpose
  2. Select the goals you want to accomplish
  3. Identify the strategy or approach that needs to be implemented
  4. Develop an action plan
  5. Assess, monitor and update the plan
These same five steps can make all the difference in whether you are successful at networking.  Barbara A. Fuller, PMP is a small business consultant and coach.

PMO LCI:

Topic: na

The PMINJ PMO LCI will start its quarterly meetings with the October Monthly Program Meeting.