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Register online at: www.mistieurope.com INHOUSE TRAINING Save up to 50% with In-House Training Course Director: Dr David Hancock Renowned international leading practitioner in Risk Management and current Head of Risk & Value for Transport for London where he is responsible for the risk and opportunity of a £15 billion upgrade programme. How the audit function can add value to major projects and change programmes AUDITING MAJOR PROJECTS AND CHANGE PROGRAMMES www.mistieurope.com/inhouse Internal Audit 3 Day Course: 23-25 February 2015 London 1-3 June 2015 London 18-20 October 2015 Dubai The Global Leader In Audit and Information Security Training Why Attend This Course? n How the audit function compliments project management and risk management n The concepts and practical application of a risk based approach to project review n Understand how to identify, mitigate and control project risks effectively n Sell the benefits of proactive risk based audit of key projects n Audit major projects with confidence n Techniques to ensure that more projects meet their agreed objectives n The ability to read early warning signs n The influence of the supply chain on project success n Lessons learnt from major projects such as Heathrow Terminal 5, Wembley and Copenhagen Metro. Exclusive Offer For MIS Delegates! Attend this course and receive a copy of David Hancock’s book ‘Tame, Messy and Wicked Risk Leadership’ for free!

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Page 1: Auditing Major Projects and Change Programmes 2015mistiemea.ungerboeck.com/brochures/Auditing Major...How the audit function can add value to major projects and change programmes AUDITING

Register online at: www.mistieurope.com

INHOUSETRAININGSave up to 50%

with In-House Training

Course Director: Dr David Hancock Renowned international leading practitioner in Risk Management and current Head of Risk & Value for Transport for London where he is responsible for the risk and opportunity of a £15 billion upgrade programme.

How the audit function can add value to major projects and change programmes

AUDITING MAJOR PROJECTS AND CHANGE PROGRAMMES

www.mistieurope.com/inhouse

Internal Audit

3 Day Course:

23-25 February 2015 London

1-3 June 2015 London

18-20 October 2015 Dubai

The Global Leader In Audit and Information Security Training

Why Attend This Course?

n How the audit function compliments project management and risk managementn The concepts and practical application of a risk based approach to project review n Understand how to identify, mitigate and control project risks effectivelyn Sell the benefits of proactive risk based audit of key projectsn Audit major projects with confidencen Techniques to ensure that more projects meet their

agreed objectivesn The ability to read early warning signsn The influence of the supply chain on project successn Lessons learnt from major projects such as Heathrow Terminal 5, Wembley and Copenhagen Metro.

Exclusive Offer For MIS Delegates!

Attend this course and receive a copy of David Hancock’s book ‘Tame, Messy and Wicked Risk Leadership’ for free!

Page 2: Auditing Major Projects and Change Programmes 2015mistiemea.ungerboeck.com/brochures/Auditing Major...How the audit function can add value to major projects and change programmes AUDITING

How the audit function can add value to major projects and change programmes

AUDITING MAJOR PROJECTS AND CHANGE PROGRAMMES

Prerequisite Previous audit or project control experience.

Course Director: Dr David Hancock

Dr David Hancock is Head of Risk and Value for Transport for London. He is responsible for risk and opportunity across a £15 billion capital upgrade programme which includes; rail, underground and surface (roads, buses and river services throughout London. Renowned internationally as a leading thinker and practitioner in the risk field, he champions the case for rethinking project management as a social interaction rather than delivery through the application of process and policy. David has worked with the public, private and voluntary sectors and in the past has been:

• Director of risk and assurance for two London Mayors.

• Director of a £500m turnover engineering consultancy with clients including: Ministry Of Defence, Highways Agency, Shell, Qatar Petroleum and BAE Systems

• Responsible for creating and delivering the opportunity-risk management system for the Terminal 5 Project at Heathrow

• Risk manager for the £500m Copenhagen Metro project

He is a Chartered Engineer, Chartered Fellow of the Institute of Personnel and Development and Fellow of the Association of Project Management. He is also a member of the programme board for the Major Projects Association, and a teaching Fellow at Cranfield University in their School of Management.

Telephone: +44 (0)20 7779 8202 Email: [email protected]

To understand how audit can add value in the 3 line defence model and assist auditors comply with EU company law directive—article 41, section 2b which requires internal audit committees, for the first time, to monitor internal control, internal audit and risk management systems on Major Projects and Programmes.

“More risk management skills might be needed in companies’ internal audit committees to satisfy the latest European Union (EU) company law”, Richard Nelson, former president of the ECIIA, the auditing profession’s European umbrella organisation.

Course Focus And Features

For auditors, major change projects and programmes present some special challenges that are the focus of this course: • They involve many and diverse stakeholders• They have high importance and high risk• They involve political and societal risk• There complexity may mean that issues can be hard to see until it is too late• Human behaviour and biases add to the complexity and contribute to the problem What should be done? Many high profile project disasters turn out to have had risk management and governance procedures in place that typify accepted practice. These standard controls were not strong enough to provide control. This course looks at why those controls sometimes fail, including indepth coverage of the human behaviour that is so often the cause of our difficulties. It goes on to examine the early clues that should alert auditors to problems ahead and gives suggestions on how to test objectively things that often seem to be matters of conflicting opinion. A special feature of this course is the stress on controls strong enough to be effective in high pressure change.

Who Should Attend

Anyone who may be faced with auditing change, IT or Major Projects and Programmes.

Advanced Preparation: None

Training Type: Group-Live

Learning Level: Intermediate

CPEs: 24

Price: GBP £2,245+VAT**Delegates may be able to claim back VAT. Visit www.mistieurope.com/VAT for more information.

Page 3: Auditing Major Projects and Change Programmes 2015mistiemea.ungerboeck.com/brochures/Auditing Major...How the audit function can add value to major projects and change programmes AUDITING

Telephone: +44 (0)20 7779 8202 Email: [email protected]

Day Two:

Advanced Techniques

Session 1:Risk Part 2• Introduction to Tame, Messy and Wicked Problems• Lessons from case studies - Introduction to Heathrow Airport Terminal 5 as a wicked problem• Limitations of quantitative techniques: Net Present Value, sensitivity analysis, and Monte Carlo simulation for Major Projects• What do we mean by a successful project?• Introduction to Agile

Session 2:Behavioural And Cognitive Biases• Representation bias, availability bias, anchoring, hindsight bias, cognitive dissonance and confirmation bias Exercise: Project teams and failure• Understanding the difference between Incremental and radical change and the risks associated with both• Do projects have to fail and what learning points can we get from other people’s failures?• Understanding diversity in high performing teams - Does it help or hinder project success? - How do we manage it?

Session 3:Radio and Trend Analysis• Calculating and interpreting key financial trends, percentages and ratios• Profitability, liquidity, working capital and gearing measures – how they are calculated and how to use them when assessing risk• What ratio trends tell you about business performance and prospects Exercise (in syndicates): Participants will apply key ratios covered to the case study company introduced in session two Session 4:Scenario Planning• What is it, how do you do it and who should be involved?

Day One: The BasicsThe Three Lines Of Defence Model

Session 1:The Fundamentals Of Project Risk Management• Understanding the language of Projects to be able to apply audit successfully• What is a Project Life Cycle and what activity occurs during the different phases?• Should Project and Risk Maturity affect your approach to audit?• What do we mean by risk and uncertainty and how do we measure it?• Is there a difference between opportunity (as the counter to risk) and value and are the important for audit?• What is Enterprise Risk Management? Exercise: Is the timing of audit intervention important? Development of a project risk register.• Helping to understand the obstacles with compiling data when developing a risk register. Session 2: The Fundamentals Of Project Controls• Key reasons for failure in Major Projects• Understanding different Project Processes and some tools projects use to control them (Gant charts, milestones, return on investment and earned value)• Understanding Gateway Planning and the level of information typically available at each gate• What is the difference between projects, programmes and portfolios? Exercise: Why do Major projects typically fail?• Findings from the Association of Project Management and the Office of Government Commerce about why projects fail.

Group Booking Discount**

3 delegates -

10% discount

2 delegates -

5% discount

4 delegates -

12% discount

5 delegates -

15% discount

**Available for delegates from one organisation attending the same course

Page 4: Auditing Major Projects and Change Programmes 2015mistiemea.ungerboeck.com/brochures/Auditing Major...How the audit function can add value to major projects and change programmes AUDITING

Register online at: www.mistieurope.com

Day Three:

Lessons Learnt From The Failure And Success Of Other Projects(Bringing It All Together) Session 1: Communication• Examples of Reports and Dashboards to communicate the level of project risk and mitigation to stakeholders• Use of templates

Session 2: Controls Development: The Problems• Construction Project warning signals and prompts• IT project warning signals and prompts• Examples and learning points from cases studies including: - Copenhagen Metro; examples of construction and interface failures - Comparison of Wembley Stadium and Heathrow airport Terminal 5 Heathrow; why was construction so successful for T5• What was the environment that contributed to it being delivered on time, budget and without recourse to lawyers!• What happened at opening and could it have been avoided? - Some notable IT failures Session 3: Supply Chain And Procurement Risk• Supply chains are a complex part of the successful delivery of projects• What does the ‘intelligent client’ need to know and what are the pitfalls to managing supply chain performance• Examples from projects i.e. Metronet, the failure of a private public partnership to deliver a capital project

Session 4: Controls Development: Audit• Three lines of Defence. What are they and how do they combine to deliver project success?• Audit approaches (Horizontal, vertical, diagonal and targeted)• What to look for: inadequate resource allocation, poor techniques, lack of early progress, other warning signs Excercise: What audit style should we use and when?• Getting it right, using the right style for the right scenario

Auditing Vision And What Does The Future Hold?

Review And Close Of Course

TAILORED AND PERSONALISED IN-HOUSE TRAINING Why Choose In-House Training?Savings - Running an in-house course in your offices will ensure you avoid the costs of travel and accommodation. Plus we charge per day not per delegate. You can train six or sixteen people for the same price! Convenience - We can arrange a course that fits your team’s schedule. Any dates, any location, simply tell us what works best for you. Avoid the hassle of coordinating travel arrangements and accommodation for your staff Tailored training - We have over 150 existing training courses you can mould to fit your exact requirements or if you prefer we can just create a new agenda. You will have complete control over the course content Confidentiality - You can focus on potentially thorny issues that may be specific to your organization which are best resolved in private with the expert guidance of your course director

Some Of The Companies We Have Worked With:PwC • International Labour Office • Barclays • Capital One • Legal and General • Deloitte • European Court of Auditors • Lukoil • Credit Suisse AG • Euroclear • AIB • U.S. Steel, Corp. • Novartis • National Commercial Bank • Qatar National Bank

Visit www.mistieurope.com/inhouseCall us on 0207 779 8202Email [email protected]

INHOUSETRAININGSave up to 50%

with In-House Training

“A very good communicator and highly experienced on the topic. The bonus book is a masterpiece. Thanks!”Nigeria Sovereign Investment Authority