Risk Management

Course details

This course will guide the student through the Risk Management process as defined by the Project Management Institute (PMI). Through a series of hands-on exercises the student will learn the proper methodology for managing risks.

Course outline

Overview Of Risk Management

Risk Management Planning

• Determining How to Approach, Plan, and Execute Project Risk Management Activities
• Inputs to Risk Management Planning
• Determine Enterprise Environmental Factors, Organizational Process Assets, the Project Scope Statement, and the Project Management Plan
• Tools and Techniques for Risk Management Planning
• Planning Meetings and Analysis

Risk Identification

• Determine Enterprise Environmental Factors, Organizational Process Assets, the Project Scope Statement, the Project Management Plan, and the Risk Management Plan.
• Information Gathering
• Assumptions Analysis
• Outputs of Risk Identification

Qualitative Risk Analysis

• Inputs to Qualitative Risk Analysis
• Organizational Process Assets, Project Scope Statement, the Risk Management Plan, and the Risk Register
• Risk Probability and Impact Assessment
• Probability and Impact Matrix
• Risk Data Quality Assessment
• Outputs of Risk Management Planning
• List of Risks Requiring Response in the Near-Term
• List of Risks Requiring Additional Analysis and Response

Quantitative Risk Analysis

• Inputs to Quantitative Risk Analysis
• Organizational Process Assets, Project Scope Statement, the Risk Management Plan, and the Risk Register
• Data Gathering and Representation Techniques including: Interviewing, Probability Distributions, and Expert Judgement.
• Quantitative Risk Analysis and Modeling Techniques

Risk Response Planning

• Inputs to Risk Response Planning
• Strategies for Negative Risks or Threats including: Avoidance, Transference, and Mitigation
• Strategies for Positive Risks or Opportunities including: Exploiting, Sharing, and Enhancing
• Strategies for Both Threats and Opportunities including Acceptance
• Contingent Response Strategy
• Risk owners and assigned responsibilities
• Specific actions to implement the chosen response strategy
• Symptoms or warning signs that a risk is about to occur
• Budget and schedule activities you must undertake if a risk occurs
• Contingency plans and risk triggers

 Risk Monitoring And Control

• Risk Reassessment
• Risk Audits
• Variance and Trend Analysis
• Technical Performance Measurement
• Reserve Analysis
• Outputs of Risk Monitoring and Control

 Learning Objectives

After completion of this course Participants will be able to :

• Define a project, program, and project management and its processes.
• Determine effective ways of integrating project management and general business management in an organization.
• Determine ways to effectively integrate a project across an entire enterprise to reduce the impact of change. .
• Plan for risks.
• Effectively identify risks.
• Perform qualitative and quantitative risk analysis.
• Perform Risk Monitoring and Control.
• Apply network activity techniques.

Who should attend ?

• Project Managers and employees responsible for managing and tracking projects.

Course Features

Group exercises, role plays ,team games ,open discussions & analysis of work based – situation , assessment tools to give participants  valuable skills & techniques to master the topic