Introduction:

Managing risks is a key element of effective project management. To remain competitive, project managers cannot afford to set up contingencies or control measures for every conceivable risk. Rather, project managers must assess each risk and develop a response proportionate to the risk. This course introduces learners to widely accepted risk assessment, management, and control practices using effective tools and techniques.

Course Objectives:

By the end of this course, delegates will be able to:

• Understand the concepts of upstream risk management
• Understand the estimation and evaluation of risks - qualitative, semi-quantitative and quantified risks
• Understand risk management process
• Techniques for hazard identification and analysis - check-lists, risk profiling, HAZOP, FMEA and task-based risk assessment
• Cause-consequences analysis - the role of fault trees and event trees in accident prevention
• Plan risk management — who is responsible for risk management, who should perform the risk analysis, when should it be done in the project life cycle, and when should it be reviewed and updated?
• Identify risk — what are the most critical risks facing projects, and how can they be determined?
• Analyze potential risk probability and impact — what tools are available to determine risk factors, to determine which risks should be focused on, and to determine what can be done to remove risk or reduce the potential impact on a project?

Who Should Attend?

This course is primarily designed for project managers or project team members who require a better understanding of risk management in their projects. Individuals taking this course should have at least two years of experience working on project teams

Course Outline:

• Topics
• Project risk management in the context of project management
• What is project risk management?
• Project risk management in a project life cycle
• Fundamental principles of project risk management
• Overview of project risk management
• Reading assignment (from the PMBOK® Guide)
• Quiz

Plan Risk Management

• Topics
• Overview of plan risk management process
• Inputs to the plan risk management process
• Tools and techniques for the plan risk management process
• Outputs from the plan risk management process
• Reading assignment (from the PMBOK® Guide)
• Practice exercises
• Quiz

Identify Risks

• Topics
• Overview of the identify risks process
• Inputs to the identify risks process
• Tools and techniques for the identify risks process
• Outputs from the identify risks process
• Reading assignment (from the PMBOK® Guide)
• Practice exercises
• Quiz

Perform Qualitative Risk Analysis

• Topics
• Overview of the perform qualitative risk analysis process
• Inputs to the perform qualitative risk analysis process
• Tools and techniques for the perform qualitative risk analysis process
• Outputs from the perform qualitative risk analysis process
• Reading assignment (from the PMBOK® Guide)
• Practice exercises
• Quiz

Perform Quantitative Risk Analysis

• Topics
• Overview of the perform quantitative risk analysis process
• Inputs to the perform quantitative risk analysis process
• Tools and techniques for the perform quantitative risk analysis process
• Outputs from the perform quantitative risk analysis process
• Reading assignment (From the PMBOK® Guide)
• Practice exercises
• Quiz

Plan Risk Responses

• Topics
• Overview of the plan risk responses process
• Inputs to the plan risk responses process
• Tools and techniques for the plan risk responses process
• Outputs from the plan risk responses process
• Reading assignment (from the PMBOK® Guide)
• Practice exercises
• Quiz

Monitor and Control Risks

• Topics
• Overview of the monitor and control risks process
• Inputs to the monitor and control risks process
• Tools and techniques for the monitor and control risks process
• Outputs from the monitor and control risks processs
• Reading assignment (from the PMBOK® Guide)
• Practice exercises
• Quiz
• Final exam

COURSE LOCATIONS