Assessing and Managing Project Risk Training

Answers to Popular Questions:

 
Yes, this class can be tailored to meet your specific training needs.
Yes, we provide Project Management consulting services.
Yes, group discounts are provided.

Course Description

 
This course focuses on one of the nine knowledge areas of project management, Risk Management. Risk Management focuses on dealing with the inevitable negative events which could occur on the project and how to decrease the probability of those events or decrease the impact they will have on the project and also, dealing with the potential opportunities which could occur on the project and how to increase the probability of those events or increase the impact they will have on the project. In order for the risks of the project to be properly defined it is necessary to interface with the key stakeholders of the project. As with the other aspects of project planning, the risk plan should by no means be developed "in a vacuum." Different techniques from one-on-oneinterviews to team workshops should be utilized. This course is designed to give you a working knowledge of risk management for projects. You will be able to use these concepts the very next day on your projects thus giving you the edge over your competition. This course follows the best practices for Project Risk Management as outlined in the Guide to the Project Management Body of Knowledge (PMBOK Guide) from the Project Management Institute (PMI).
Course Length: 2 Days
Course Tuition: $790 (US)

Prerequisites

Some experience in project management is recommended but not required.

Course Outline

 

1. Why Project Risk Management?

Use of Risk Management

Timing of Risk Management

Can You Eliminate All Risks?

Levels of Uncertainty

Movement of Risk

Project Life Cycle & Project Risk

Proactive Risk Management

Risk Management Scenario

Reactive vs. Proactive

Proactive Risk Management

Communications with Project Stakeholders

Project Stakeholders Definition

Risk Management & Project Stakeholders

Benefits & Uses of Risk Data

The Project Risk Management Process

Risk Management and the Five Process Groups

Knowledge Areas vs. Process Groups

The Risk Management Process

Risk Management Six Elements

2. Plan Risk Management

The Risk Management Process Inputs

Tools & Techniques

Steps

Outputs

3. Identify Risks

The Risk Management Process Inputs

Tools & Techniques

Risk Naming Convention

Root Risk

Internal vs. External Cause Effects

Opportunities

100% vs. 0% Probability

When are You Done?

Outputs

4. Perform Qualitative Risk Analysis

The Risk Management Process

Inputs

Tools & Techniques

Probability and Impact Matrix

Outputs

5. Perform Quantitative Risk Analysis

The Risk Management Process

Inputs

Tools & Techniques

Expected Monetary Value

Standard Deviation Curve

Outputs

6. Plan Risk Responses

The Risk Management Process

Tools & Techniques

Transference vs. Contract Types

Risk Level vs. Contract Types

Probability and Impact Matrix

High Likelihood Risk Response

Outputs

7. Monitor & Control Risks

The Risk Management Process

Inputs

Tools & Techniques

Outputs

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