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Project Cost Management is a multi-faceted discipline requiring rigorous management of project data in order to maintain accurate insight into project progress and status. EcoSys EPC is a web-based project cost management solution which provides the usability of Excel-like spreadsheets, with the power and control of an enterprise database application. Organizations can leverage EcoSys EPC to make proactive business decisions which positively impact project performance. While the benefits of the software are numerous, the following presents some of the key features that make EcoSys EPC the ultimate project cost management solution. As program or project managers, we have our hands full with the day-to-day management of our initiatives, and it is difficult enough to keep a lid on all the tactical actions that are taking place, let alone plan for the future. The focus of this article is a specific risk management strategy which we believe is simple to implement and can directly help to improve one’s ability to identify, manage, and effectively communicate risks. Before we delve into the details of Risk Management implementation, we want to discuss a few aspects of risk. When our goal is the identification of project risks, it is helpful to categorize them; when does this risk arise and where is likely to have impact? For years, each of us have used and practiced a similar Risk Management implementation (process and tool) which has proven to be quite simple, yet effective. As stated previously, we choose to manage some project risks via a spreadsheet template (see diagram). As can be seen, each of the processes is included within the spreadsheet (or Risk Register), with the exception of risk management planning.
As part of Risk Identification, we also capture the date on which the risk was identified and the category to which the risk belongs. Additionally, this mechanism enables us to collectively sort all of the risks, allowing us to recognize at any point how close any particular risk is to turning into an issue. Continuing left to right, the next field is labeled “Mitigation.” Within this field, we want to capture our Risk Mitigation Plans. The last two fields include the Risk Owner (who is primarily responsible for the Risk) and a running status of the risk. This article has provided an overview of a specific Risk Management implementation that can be adapted to most projects. Gareth Byatt, Gary Hamilton, and Jeff Hodgkinson are experienced PMO, program, and project managers who developed a mutual friendship by realizing they shared a common passion to help others and share knowledge about PMO, portfolio, program and project management (collectively termed PM below). Gareth Byatt is Head of the Group IT Portfolio Management Office for Lend Lease Corporation.
He has presented on PMOs and program and project management at international conferences in the UK, Australia, & Asia including PMI APAC in 2010. Gary Hamilton has 17+ years of project and program management experience in IT, finance, and human resources and volunteers as the VP of Programs for the PMI East Tennessee chapter.
Jeff received the 2010 PMI (Project Management Institute) Distinguished Contribution Award for his support of the Project Management profession from the Project Management Institute. Jeff holds numerous certifications and credentials in program and project management, which are as follows: CAPM®, CCS, CDT, CPC™, CIPM™, CPPM–Level 10, CDRP, CSM™, CSQE, GPM™, IPMA-B®, ITIL-F, MPM™, PME™, PMOC, PMP®, PgMP®, PMI-RMP®, PMI-SP®, PMW, and SSGB. Conflicts show themselves in various ways and always represent tension between two standpoints. The type of conflict is largely irrelevant when resolving a conflict as you only show the visible parts of it. Since childhood, we have been confronted with conflicts and, with the years, every one of us has developed his own individual way of managing them. If flight from danger is not possible, an aggressive battle ensues, in which the conflicting parties strive to destroy the enemy. Submission or subordination is selected as a method for managing conflict if those conflicting parties with fewer resources or means of power come to the conclusion that submission or subordination could bring benefits. During delegation, a third party (person, law, judges, referees) mediates between two conflicting parties or opponents.
If the conflicting parties want to reach a compromise, they must find partial agreement in certain areas of conflict and approach each other. All points of conflict and sub-aspects of the search for a solution are included in the consensus.
The conflict escalation model of Friedrich Glasl is a good method for analysing conflicts better and reacting more adequately during the course of conflict. Hardening – Conflicts begin with tension, for example, the occasional build-up of opinions.
Polarisation and debate – From here on, the conflicting parties consider strategies for convincing the other party of their arguments.
Deeds, not words – The conflicting parties increase the pressure on each other so as to assert themselves or their opinions.

Concern for image and coalition – The conflict escalates in that a person looks for sympathisers for his cause. Threats – Conflicting parties use threats in an attempt to control a given situation absolutely.
Various action options are available for de-escalating a conflict in the various stages of development that are shown in Diagram 29. It is important, as part of conflict resolution, that you, as manager, realistically consider whether you have any influence on the resolution of the conflict at all. Conflicts within your team regarding roles, rules, and to-do lists, for example, are subject to your direct influence. Simpler conflicts can basically be resolved in a four-step process, where we recommend setting the time spent according to the complexity and tension of the conflict. Do you have any questions or would you like to contact us concerning “Project Management”? Effective project cost management requires the use of standardized processes and tools to ensure accuracy and reliability of information. It provides visibility into project costs, efficiency in cost management, and provides greater accuracy and accountability.  EcoSys EPC is designed to provide robust cost management solutions that span the planning cycle, from estimating, to budgeting and forecasting, through all stages of project execution. First, by definition, projects are the creation of a unique entity; therefore, a certain amount of risk will always be present.
The tool or Risk Register (in our case a Microsoft Excel Spreadsheet) provides a mechanism for capturing project risks and issues, yet also covers all of the PMBOK® KPA processes, with the exception of Risk Planning. Risk identification has been shown to be a significant part of risk management in that it makes one aware of potential events or issues that may impact the group. This requires that we look ahead, consider and plan as to what we will do to manage our Risks and their potential progression to becoming Issues. The latter should be updated each time the risk status is changed, so that one has a history log for all the risks. This includes the current potential for a Risk becoming an Issue (via REN), as well as its current owner and status. While risk management is far more than maintaining a Risk Register, the tools for making decisions are essential. Gareth is also the APAC Region Director for the PMI’s PMO Community of Practice and chairs several peer networking groups. Jeff was the 2nd place finalist for the 2011 Kerzner Award and was also the 2nd place finalist for the 2009 Kerzner International Project Manager of the Year Award TM. As long as this is not resolved in the interest of the participants, no real results will be achieved on the specialist level – regardless of which arguments are used.
For this reason, their many performance and management tasks include pre-empting conflicts or addressing them constructively. If they are not resolved, they can lead to a feeling of paralysis and hinder effective collaboration in entire departments and, in some cases, even entire organisations. Various types are now presented, as analysed by Gerhard Schwarz, according to their developmental history. In conflict situations, this behaviour shows itself, for example, through social exclusion, bullying, dismissal, war between nations, murder, etc. In order for the conflicting parties to accept a decision by delegation, one must ensure that this higher authority is not directly involved in the conflict and has no vested interests.
One great advantage of compromise is that the conflicting parties retain their powers in each phase of negotiations. The conflicting parties develop a new view of their position from the previously contrary positions, one that is acceptable to both partners in terms of its content, as well as on the relational level. He divides his model into nine individual stages, where every three stages are summarised in a single level. Otherwise you quickly find yourself in a situation like Don Quixote and charge against windmills.
Then there are conflicts in which you have no direct influence but where you can collaborate or offer your help for changes or improvements (indirect influence).
Additionally, risk management is, “… the systematic process of identifying, analyzing, and responding to project risk.” Risk management incorporates various processes. We find that having multiple plans in place helps to maintain a balance as to how we’ll manage our Risks. As a result, it is the hope of the authors that you will find these tools and their implementation useful for providing a framework in which you, too, can be a successful manager of program and project risk.
They have been translated into Arabic, French, Italian, Spanish, Portuguese, and Russian and published on websites in Australia, Brazil, Canada, Costa Rica, France, Italy, New Zealand, Poland, Russia, UK, and the USA. Gareth has 14+ years of project, program, and portfolio management experience in IT and construction.

He has won several internal awards for results achieved from projects and programs he managed as well as being named one of the Business Journal’s Top 40 Professionals in 2007. He is also the Intel IT PMO PMI Credential Mentor supporting colleagues in pursuit of a new credential.
Jeff is currently focusing on gaining expertise in energy efficiency and home energy alternatives.
Initially, they hide behind tough specialist discussions that could actually be resolved quickly.
It turns out that the opposing view comes to light in another form or in another situation (more intense). Newer forms of delegation (mediation, organisational consultation) attempt to make the conflicting parties relinquish their powers in conflict situations through targeted advice. A consensus is mostly sought when the conflicting parties begin to see that the effort, costs, and risk of other conflict management options will not be worth it. It is no longer about the issue but about winning the conflict so that the other party loses. From here on, limited personal losses are even seen as a victory if those of the enemy are greater.
Therefore, determine whether you can resolve the conflict using your means and position or establish whether it lies outside of your field of influence. And, finally, there are conflicts that lie completely outside of your own field of influence.
Models differ – one example is Risk Planning, Identification, Qualitative Analysis, Quantitative Analysis, Response Planning, and Monitoring and Controlling. The planning component within the Risk Management plan can be relatively short (summarized within a couple of paragraphs) by referencing the self-contained Risk Register, identifying the methods for updating the Risk tool, and communicating the Risks and Issues from the Risk tool. To this end, we prefer to categorize the plans as either MITIGATE, MONITOR, ENCOURAGE, or ACCEPT. Their mission is to help expand good program and project management practices by promoting the PM profession, to be a positive influence to the PM Community, and in earnest hope readers can gain benefit from the advice of their 60+ years of combined experience and expertise (and the expertise of co-authors who write with them on certain articles and subjects).
Gary is the 5th person globally to obtain the six PMI credentials PgMP®, PMP®, PMI-RMP®, PMI-SP®, PMI-ACP®, and CAPM®. In 2012, he earned an IAA (Intel Achievement Award), Intel’s highest recognition, with the team for work in implementing an industry-leading private cloud solution. He lives in Mesa, Arizona, USA and volunteers as the Associate Vice President for Credentials & Certifications for the Phoenix PMI Chapter. During conflicts, the problem is set aside or denied and the point of conflict suppressed and postponed. In conflict situations, submission or subordination shows itself in the form of threat, blackmail, war, putsch, bribery, hierarchy, denial, ?resignation and rash majority decisions. For example, an out-of-court settlement is not about the correct decision of judge, but, rather, about both marriage partners finding an appropriate solution to their problems as part of a ?mediation process.
In so-called lazy compromises, it is exactly these aspects that are not discussed and a re-ignition of the original conflict is quite probable. The new stages are defined according to their visible symptoms and help to recognise conflicts before it is too late. While risks are “uncertain” events that have not yet occurred, an Issue is an event that has already transpired. Such positive risks, or opportunities, as they are commonly referred to, are the events you seek to act upon to create a net positive impact on your project. This produces a REN or Risk Event Number, a way of ascribing a value (1 to 100) to each risk. Although all three are well credentialed, together they have the distinction in particular of being 3 of only 25 worldwide that hold the Project Management Institute’s PMP®, PgMP®, and PMI-RMP® Credentials.
In addition to these, Gary holds numerous other degrees and certifications in IT, management, and project management and they include: an advanced MBA degree in finance, Project+, PRINCE2, MSP, ITIL-F, MCTS (SharePoint), MCITP (Project), CSM (Certified Scrum Master), and Six Sigma GB professional certifications.
Because of his contributions to helping people achieve their goals, he is the third (3rd) most recommended person on LinkedIn with 590+ recommendations, and is ranked 33rd most networked LinkedIn person.
A social conflict, by contrast, is an interaction between two actors where at least one of them has a difference in observation, thought, feeling, and intention to another participant, to the extent that its realisation damages relationships with other participants (F.
A trigger is an indication that a risk is about to or has occurred, and is usually based on parameters that have been “set off”. Depending upon your organization’s preferences, you may consider color-coding the REN cell (clear, yellow, red) as a means of drawing attention to high-probability, high-impact risk.

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