Managing Project Country Risk
The geo political scene keeps changing, and yet companies have to take on projects & risks on a global level and be global players in order to grow. It is usually a challenging topic for project and risk managers, since they are not always aware of what a country risk is and how it could be managed and sometimes even insured.
The purpose of this presentation will be to provide tips for risk managers on how to understand and address geo political risks. There will be use of an example throughout the presentation. We will add an “imaginary” country to the globe, and an “imaginary” global company. This will make the analysis a fun educational experience without getting into geo political hot water.
The presentation will include the following:
- What is a country? (It’s not what you think…)
- What is a global company? (From the geo political risk perspective)
- What is a country risk?
- Examples of country risks in projects
- Identifying the typical stakeholders for geo political situations
- Using the example, a baseline status will be presented for both country and the global project
Then, an additional scenario will be presented for the purpose of comparing the geo political status in the baseline situation vs. the updated scenario. This exercise will yield surprising results that will provide helpful tips for all project management professionals to better understand how to handle country risks and not see it as “force major” risks only.
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