Project Risk Management

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  • BEHAVIORAL COMPETENCIES

    • Action-oriented
    • Decision quality
    • Ensures accountability
    • Manages ambiguity
    • Plans and aligns
    • Situational adaptability

  • SKILLS

    • Planning and organizing
    • Prioritizing
    • Project change management
    • Project estimating
    • Project integration management
    • Project benefits management
    • Project tracking and reporting
    • Risk management

synopsis

Project Risk Management is a three-day, integrated case-study-based class. It emphasizes how vital effective risk management is in projects. The course case study models the importance of applying lessons learned and greater predictability of project performance by better managing risk and uncertainty. It covers the behaviors, processes, and tools required to create and implement an effective project risk management system. The course's primary objective is to encourage delegates to review their current projects for possible risk management gaps and explore options to close the gaps. Participants will also discuss and consider recognized "best practices" used for managing risk. This course is aligned with the latest versions of A Guide to the Project Management Body of Knowledge®  (PMI® Guide to the PMBOK®), and PMI® Standard for Risk Management in Portfolios, Programs, and Projects.


You can attend this course in one of the following formats: 

  1. instructor-led training in a live, virtual classroom,
  2. e-training (on-demand),
  3. instructor-led training in a live classroom, and
  4. blended (on-demand and live sessions).

you will learn how to

At the end of this course, you should be able to:



  • Discuss benefits of risk management for projects.
  • Explain the project risk management processes.
  • Identify key roles and responsibilities associated with project risk management.
  • Identify, analyze, and respond to project risks.
  • Tackle multiple risks by deploying appropriate strategies, implementing optimized responses, and exhibiting supporting behaviors.
  • Identify people, processes, and tools barriers to project risk management.
  • Integrate risk management with project management.
  • Perform integrated schedule and cost risk analysis.
  • This course uses digital materials.

audience

We designed the "Project Risk Management" course to cater to a diverse range of professionals who are involved in project management and project execution roles. The target audience for this course includes:


  • Project Managers: Individuals responsible for planning, executing, and overseeing projects of various sizes and complexities.
  • Program Managers: Those managing multiple interconnected projects or programs, where effective risk management is crucial.
  • Team Leaders: Leaders of project teams, responsible for guiding their teams through successful project execution.
  • Risk Management Specialists: Professionals dedicated to risk management within the context of projects and programs.
  • Quality Assurance Professionals: Individuals responsible for ensuring the quality and reliability of project deliverables.
  • Technical Leads: Engineers and technical experts who play pivotal roles in project execution and risk mitigation.
  • Engineering Managers: Leaders overseeing engineering projects that demand robust risk management.
  • Business Analysts: Professionals involved in requirements analysis and project planning who need to consider risk factors.
  • Entrepreneurs and Start-up Founders: Individuals embarking on new ventures who need to understand and manage risks in their projects.
  • Government and Nonprofit Leaders: Public sector and nonprofit organization leaders overseeing projects with varying levels of complexity.
  • Project Management Professionals (PMPs): Certified project management professionals seeking to enhance their risk management skills.
  • Anyone Involved in Project Execution: Professionals from diverse backgrounds interested in understanding and applying project risk management principles.
  • 

This course is suitable for both experienced project managers looking to enhance their risk management expertise and professionals new to project management seeking a solid foundation in risk management practices.

OUTLINE

  • MODULE 1: PRINCIPLES AND CONCEPTS OF RISK MANAGEMENT

    At the end of this module,  you should be able to:

    1. Discuss the business case for project risk management.
    2. Discuss the key concepts for project risk management.
    3. Discuss trends and emerging practices in project risk management.
    4. Conduct a review of project risk management terminology.
    5. Explain the critical success factors for project risk management.
    6. Practice identifying root causes of complicated and complex projects that lead to project failures.

  • MODULE 2: PLAN RISK MANAGEMENT

    At the end of this module, you should be able to:

    1. Discuss the plan risk management process.
    2. Discuss the specific contents of a project risk management plan.
    3. Discuss the key roles and responsibilities of project risk management.
    4. Discuss and practice using a project risk breakdown structure.
    5. Provide examples of scoring guidelines for probability and impact.
    6. Discuss a probability impact matrix.
    7. Discuss the functional requirements of a project risk register system.
    8. Conduct a review of a project risk management plan.
    9. Discuss the critical success factors for the plan risk management process.

  • MODULE 3: IDENTIFY RISKS

    At the end of this module,  you should be able to:

    1. Discuss the identity risks process.
    2. Discuss generic risk identification tools.
    3. Practice identifying risks.
    4. Practice writing a quality risk statement.
    5. Discuss the critical success factors for the identify risks process.

  • MODULE 4: ANALYSE RISKS

    At the end of this module, you should be able to:

    1. Discuss the perform qualitative risk analysis process.
    2. Practice using the bowtie method to analyze risk scenarios.
    3. Discuss the critical success factors for performing qualitative risk analysis.
    4. Practice using the essential elements of probability theory to analyze risks.
    5. Discuss the process for performing a quantitative risk analysis process.
    6. Apply the expected monetary value technique in making informed decisions.
    7. Apply the decision trees technique in making informed decisions.
    8. Practice performing an integrated schedule and cost risk analysis.
    9. Analyze reports generated by schedule and cost risk analysis simulation.
    10. Discuss the critical success factors for conducting a quantitative risk analysis.

  • MODULE 5: PLAN RISK RESPONSES

    At the end of this module, you should be able to:

    1. Discuss the plan risk responses process.
    2. Discuss the strategies for responding to negative and positive risks.
    3. Discuss the critical success factors for the plan risk responses process.
    4. Practice developing responses to threats and opportunities.
    5. Practice optimizing responses to risks using a response development matrix tool. 

  • MODULE 6: IMPLEMENT RISK RESPONSES AND MONITOR RISKS

    At the end of this module, you should be able to:

    1. Discuss the process of implementing risk responses.
    2. Discuss the critical success factors for implementing risk responses.
    3. Discuss the monitor risks process.
    4. Discuss the critical success factors for the monitor risks process.
    5. Practice performing reserves analysis.

PROJECT RISK MANAGEMENT management FAQs

  • What background do I need for this course?

    This is an intermediate course. A prerequisite for attending this course is Project Management Essentials or equivalent.

  • Is the on-demand content the same as the 3-day instructor class?

    The content and concepts are very similar. We designed the on-demand class to be suitable for a digital, self-study format.

  • What will I receive in the self-study, interactive course?

    At the end of this course, you will receive: 


    • 24 hours of content,
    • a printable student guide, 
    • interactive video lessons with personalized navigation,
    • instructor email support,
    • a student discussion board where you can engage and chat with other students,
    • interactive games, 
    • Interactive learning assessments, and
    • practice exams.

  • How will I access my course materials if I choose on-demand method?

    When we receive the payment, you will receive an email from INDENTRA LTD. with all the links and information you need to get started.

  • How can I sign up for a review session or an Instructor-led version of this course?

    Once you enroll in the course, INDENTRA LTD will send you an email with the specific details and dates.

  • How to schedule my instructor-led training?

    At any time, you may call or email our customer service team for assistance in enrolling in the event date of your choice. Alternatively, you can choose to use the online scheduling feature.

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