Overview
Project Risk Management is a two-day, instructor-led, training course designed to introduce and apply better risk management practices in the context of projects.
The course structure effectively combines introductory lecture and discussion with hands-on application of best practices in project risk management. Students will learn and apply valuable tools, techniques, and processes associated with eliminating and/or minimizing the presence and impact of adverse risk events (threats). Additionally, participants will learn about processes for capitalizing on positive risk events—or opportunities—that project
Audience
The seminar will benefit project managers, sponsors, team members, and organizational leaders that want to minimize negative impacts (threats) while maximizing positive events (opportunities) associated with their projects. This seminar will benefit key project stakeholders in any industry. Students should know the Fundamentals of Project Management.
Length
16 hours
Outline
Introduction to Project Risk Management
- Definition and Characteristics of Risk
- Sources for Risk
- Stakeholder Analysis and Risk
- Risk Management Planning
Risk Identification
- Identification Methods
- Root Cause Analysis
- SWOT Analysis
- Risk Categorization
- Risk Breakdown Structure (RBS)
- Trigger Events
Risk Analysis
- Risk Qualification
- Probability Determination
- Impact Considerations
- Risk Statement
- Scoring and Ranking
- Quantitative Analysis
Risk Response Planning
- Positive Risk Response Strategies
- Negative Risk Response Strategies
- Secondary Risks
- Residual Risks
- Contingency Planning
- Risk Budgeting
Risk Monitoring and Controlling
- Risk Management Workshops
- Reporting
- Change Control Integration
- Monitoring Tools and Methods
Hands-on Application and Practice
Participants will further expand their knowledge and experience through applied individual and team exercises. Using a selected organizational case study approach, participants will manage a sample project from initiation to closing through the following exercises:
- Project Identification and Selection
- Stakeholder and Risk Tolerance Analysis
- Risk Identification
- Risk Categorization (RBS)
- Risk Trigger Analysis
- Probability and Impact Analysis (Qualitative)
- Quantitative Analysis
- Expected Monetary Value
- Risk Response Planning
- Contingency Planning
- Secondary and Residual Risk Analysis