Project Risk Management

A Project Management Course

*This course can be tailored or customized to your specific needs.

Course Overview

Discover the latest risk management techniques, such as systematic processes for identifying, analyzing, and responding to risk. Through quantitative and qualitative methods, participants learn how to assess risk in a business scenario and make recommendations for risk planning, monitoring, control activities, and contingency plans. This Seminar will address the process of identifying risk, assessing risk, and taking steps to reduce risk to an acceptable level. The risk management plan describes how risk management will be structured and performed on the project.

Objectives

  1. Learn the fundamental steps of risk management
  2. Prioritize risks
  3. Apply risk mitigation and implementation techniques

Lesson 1: Risk Identification

  • Risk events
  • Identify risk relationships

Lesson 2: Risk Impact Assessment

Assess risk probability and consequences

  • Costs
  • Schedule
  • Technical performance impacts
  • Capability impacts

Lesson 3: Risk Prioritization Analysis

  • Assess risk critically
  • Decision-analytic rules applied to rank-ordered identified risk events
  • Rank risk events as High – Medium – Low

Lesson 4: Risk Mitigation Planning, Implementation, and Progress Monitoring

  • Risk mitigation planning
  • Medium to High criticality – move to risk mitigation planning & implementation
  • Low criticality – track or monitor as “risk watch” list
  • Reassess existing risk events and identify new risk events