Project Risk Management

Project Risk Management

OBJECTIVES

• 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?
• Analyzing 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?
• Analyzing Risks Using Monte Carlo Analysis Methods — What are the techniques, software skills, and procedures used to build probability assessments of schedule and cost risks in sample projects? How can these be used to develop the project baseline and estimate schedule and cost contingencies?
• Building a Risk Response Plan — How should the project manager address each recognized risk, assign it to project team members, build in contingencies, develop a mitigation or avoidance strategy, and accept the risk?
• Selecting Project Control Tools Using Proportionate Expenditure — What are the appropriate project management and control tools that can help to mitigate and manage identified risks in various situations?

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

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