Project Risk Management – Proactive Strategies & Tools

Programme description & objectives

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, delegates are expected to 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 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)

Venues, Dates & Cost

Venues	Dublin	London	Dubai	Edmonton (CAN)	Lagos/Abuja
Dates	TBD	TBD	TBD	TBD	TBD
Cost	$4,000 per participant (USD)				(=N=)

For whom:

Middle and Senior Manager in the Private and Public sectors
Executives with hectic schedules
Entrepreneurs
Supervisors and Managers
Team Leaders
Project Managers
Personal Assistants and Secretaries

Snapshot of course content

Risk Management Framework and Planning
Key definitions
Project Management Body Of Knowledge (PMBOK) – 6 risk management processes
Project risk management goal
Purpose of risk management
Benefits of risk management
Responsibilities in risk management
Integrating risk management into the project management process
Components of risk
Types of risk
Six steps of risk management
Plan the approach to risk management
Risk Identification
Risk Assessment & Quantification
Risk Response Plan Development
Risk management plan execution
Evaluating risk response results
Risk Planning
Plan the approach to risk management
Planning inputs, tools & outputs
Risk Identification Processes
Identification inputs & tools
Identification guidelines
Risk identification techniques
Risk categories
Risk identification outputs
Review of Cost & Schedule Estimating in Relation to Risk
Cost estimating classes & types
Cost estimating methods
Accuracy, allowances, contingency & management reserve
Work Breakdown Structures (WBS)
Schedule diagramming – critical path method (CPM)
Resource management
Earned value method (EVM)
Baselining
Risk Assessment and Quantification Processes
Risk analysis inputs
Risk analysis guidelines
Probability analysis
Impact analysis
Risk analysis approaches – qualitative & quantitative
Risk analysis tools & techniques
Statistical sums in risk analysis
Program Evaluation & Revue Technique (PERT)
Monte Carlo simulation
Decision trees
Project risk rating & prioritizing
Risk analysis outputs
Risk Response Plan Development (Step 4)
Risk response development inputs, tools & techniques
Risk response strategy guidelines
Response strategies for threats
Response planning & network diagramming
Response analysis
Alternative responses
Reserves – contingency & management
Response planning outputs
Risk Response Control
Risk management plan execution (Step 5)
Risk response control tools
Risk response control guidelines
Risk strategy execution
Evaluating risk response results (Step 6)
Risk documentation