Course Summary:

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 participants to widely accepted risk assessment, management, and control practices using effective tools and techniques. 

Course Objectives:

• Plan Risk Management
• Identify Risk
• Analyzing Potential Risk Probability and Impact
• Analyzing Risks Using Monte Carlo Analysis Methods 
• Building a Risk Response Plan 
• Selecting Project Control Tools Using Proportionate Expenditure
• Understand the PMI Risk Knowledge Areas
• Use the tools for risk identification during project planning
• Use the tools for risk identification during project execution
• Qualitative Risk Analysis
• Probabilistic Risk Analysis
• Develop and maintain a Risk Register as a risk database
• Monte Carlo simulation as a project risk analysis tool
• Risk response planning
• Monitor and control project risks during execution

 

Course Outline

Introduction to Project Risk Management

• 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

Plan Risk Management

• 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

Identify Risks

• 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

Perform Qualitative Risk Analysis

• 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

Perform Quantitative Risk Analysis

• 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

Plan Risk Responses

• 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

Monitor and Control Risks

• 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

Developing a Risk Management Project Plan

• Estimating risk management project resources
• Organizing for effective risk management
• Selecting risk analysis techniques
• Maintaining the plan