Project Risk Management

Overview

Develop skills and techniques to deal more effectively with the uncertainties of projects and respond successfully.

Who should attend

Anyone with an involvement in ensuring the successful outcome of a project such as organisational sponsors, project managers, project team members, members of support.

Course objectives

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

- Examine risk management in the context of the project life cycle

- Identify the critical issues in assessing, limiting and mitigating risk

- Learn qualitative and quantitative techniques for assessing the impact of risk

- Gain experience in applying risk management strategies within a structured framework

Course content

Nature of Risk

> Type of risk - benefits of risk management

> Risk preference - conclusions related to risk characteristics and perceptions

> Responsibilities in risk management - process flow

> Link to your experience

Risk Management Planning

> Need for planning - risk management planning process

> Risk management plan template - project charter

> Organisation's risk management policies - defined roles and responsibilities

> Stakeholder risk tolerances - organisation's risk management plan template

> Work breakdown structure

Risk Identification

> Risk identification process - list of risks

> Organisational buy-in - identification of triggers

> Using risk categories - using historical information

> Risk identification tools and techniques

> Expert interviews - SWOT analysis

Qualitative Risk Analysis

> List of prioritised risks - risk management plan

> Scales of probability and impact - assumptions

> Qualitative analysis tools and techniques

> Rating impact table - risk rating matrix

> Probability and impact scales - project assumptions testing

Quantitative Risk Analysis

> Risk quantitatives analysis process - probability of success

> Identifying risks - expert judgement

> Rules for dealing with probabilities - uniform distribution

> Interviewing - finalise priorities

Risk Responding Planning

> Risk response definitions - list of risks

> Common risk causes - avoidance

> Mitigation - acceptance

Risk Monitoring Control

> Corrective actions - project change requests

> Project success - risk response plan

> Risk reviews - earned value analysis

> Technical performance evaluation - closure management