Course Overview

Project Management Institute (PMI) has reviewed and approved GLOMACS as a Global Provider of project management training. This is a PMI Approved/Registered programme and hence attendance to this programme will enable those credentialed with PMI to receive applicable PDUs upon updating their status with PMI.

Introduction

This seminar will emphasize awareness of project risk management to minimize project cost/schedule overruns & improve project execution.

Project management is all about the management of risks; the ability to seize opportunities, minimize threats and to optimize results. However, risk management is too often treated as a reactive process, or worse, not done at all. In this Project Risk Management course, you’ll work through the proactive approach to both sides of risk: threats and opportunities. The approach is based on a clear understanding of both qualitative and quantitative approaches to risk management.

The highlights of this course are:

  • Examine both the threats and opportunities facing your projects from both a top-down and bottom-up perspective using a proven six-step risk management process.
  • Evaluate and respond to risk at the project as well as the task levels.
  • Anticipate possible causes of cost and schedule overruns, together with poor quality of work. By identifying the warning signs to these as early as possible in the project timely corrective action can be taken to minimize or mitigate the impact.


An issue facing most projects is compliance; with both internal corporate policy and with government regulations. Failure to properly proceed in this area can result in costly schedule and budget problems on a project.

Objectives

The program is designed to provide practicing project managers, program managers, technical leaders and owner/sponsors with the skills and knowledge to successfully manage risk throughout the project cycle. As such, delegates will:

  • Get an overview of the Risk Management Process
  • Learn to identify risks that affect project quality, time & schedule, cost and scope
  • Apply useful techniques to identify, analyze, mitigate and monitor risks in the project life cycle
  • Learn how to create an effective risk monitoring plan and risk management strategies.
  • Use a practical, six-step process to manage project risk
  • Develop a risk budget based on expected monetary value (EMV)
  • Training Methodology
  • The training methodology will incorporate both theory and skill training components, utilizing both traditional lectures, as well as hands-on exercises, group discussions and case studies.

Organizational Impact

Both private and public organizations will greatly benefit from systematic approach to managing project, which will improve the likelihood of on-time and on-budget project completion by focusing on:

  • Risk management planning in line with project objectives
  • Proactive identification of risk sources and minimization of their impact
  • Knowledge of risk compliance issues and practices
  • Understanding the relationship between risk, scope, cost & time
  • Knowledge of mathematical techniques used in risk analysis
  • Evaluating alternative risk strategies and modifying project plans accordingly

Personal Impact
Delegates will:

  • Identify threats and opportunities and weigh their relative value in your project
  • Learn how to rank risks based on the amount of exposure to the company
  • Develop the skill necessary to quantify risks
  • Employ the concept of Expected Monetary Value (EMV) to prioritise the risk mitigation strategy
  • Control multiple risks using concise strategies
  • Make risk and opportunity integral components of your next project plan

Who Should Attend?

This course is intended for individuals who want to develop and refine their project risk management skills.
Professionals, no matter what your industry background are (i.e. engineering, information technology or business), this course will cover both the fundamental principles and modern techniques of project risk management.

GLOMACS is an ISO 9001:2008 Certified Training and Consultancy Company, established to cater to the ever increasing needs of people & their performance in the corporate world. Since its inception, GLOMACS has successfully delivered wide range of courses combining public and in-house training programmes benefiting thousands. With its immense choice of consultants GLMACS, successfully covers and delivers courses in 4 continents spanning the Americas, Asia, Europe, Africa and is on the growth scale to add more international and strategic locations.

GLOMACS has an outstanding record for deliverance and has successfully delivered over 2,600 courses aiding professional development for over 700 clients and with more than over 28,000 professionals, by the courses it has provided.

Vision & Mission
GLMACS vision is to promote and enhance competency through practical programmes and events that reflect the latest thinking.

Whereas, their mission is to contribute to the region's advancement and transformation to a knowledge-based society through the provision of programmes of the highest caliber, which directly address the current needs and demands of both individuals and industry.

They take pride in their ability to respond quickly to market needs and provide them with quality learning programmes that are dynamic, leading edge and up to date.

Vision and mission are based on a set of values to which all GLOMACS Associates adhere:

  • Know our customers and strive to surpass their expectations.
  • Keep customer satisfaction as the only viable measure of success.
  • Be the innovators in our business, presenting new ideas in topic and format to our customers.
  • Lead the development of training and consultancy in the Middle East through technology transfer.
  • Bring vital expertise of the highest quality to develop the region’s skills and knowledge base.
  • Support our vibrant economy by creating links in the wider knowledge economy.
  • Maintain a work environment that enhances entrepreneurial spirit, work ethics and teamwork within GLOMACS
See all Glomacs courses

Project Management Related Questions

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