Risk Management

Audience

This 2 day class is for Project Managers, Programme Managers, Risk Managers, Team Leaders, Developers and anyone who wishes to enhance their knowledge of standard risk management techniques.

Prerequisites

A basic knowledge of project management fundamentals and techniques.

Duration

2 days. Lecture presentations are supported by practical exercises which allow discussion, reinforcement of learning and enhancement of the understanding process.

Objectives

Risk is inherent in everything that we do and it is no surprise that risk management holds a high level of importance within project and programme management. Additionally, risk management is a rapidly developing discipline and there are many and varied views and descriptions of what risk management involves, how it should be conducted and what it is for.

This course covers project risk and risk management in a combination of lecture and hands-on formats. The structure and detail of the course follow industry standard methods and, in particular, the Project Management Institute (PMI) body of knowledge.
The objectives of this course are to enable participants to:

• Understand the nature of risk within programmes, projects and other forms of long or short term activity.
• Be able to produce a risk management plan, create and maintain a risk register.
• Understand the importance of communication and, in particular, communication with stakeholders.
• Be able to identify risks inherent within a project or similar activity.
• Carry out and document qualitative and quantitative risk analysis.
• Understand how to monitor and respond to risk.

Course Content

Introduction to Risk Management

• Introduction to Project Risk
• What is Risk?
• Classifying Risk
• The Project Environment
• Approach to Risk Management

Risk Management Planning

• Risk Management Plan
• Risk Management Plan Contents
• Generating the Risk Management Plan
• Risk Register
• Risk Register Contents
• Risk Register Update Cycle
• Risk Register Resources
• Managing the Risk Register

Communication

• Building a Communication Foundation
• Risk and Communication
• Communication Methods
• Communications Management Plan
• Communicating with Stakeholders
• Stakeholders Needs
• Stakeholder Risk Tolerance
• Stakeholder Communication

Risk Identification

• Gathering and Identifying Risks
• Gathering Project Risks
• Risk Identification
• Risk Identification Tools and Techniques

Risk Analysis

• Qualitative Risk Analysis
• Qualitative Risk Analysis Tools and Techniques
• Documenting Trends
• Prioritised List of Risks
• Quantitative Risk Analysis
• Quantitative Risk Analysis Tools and Techniques
• Documenting Trends
• Prioritised List of Quantified Risks

Executing and Monitoring Risk

• Building and Implementing a Risk Response Plan
• Risk Response
• Risk Response Planning
• Risk Response Strategies
• Risk Response Planning Outputs
• Monitoring and Controlling Risk
• Monitoring Risks
• Risk Monitoring and Control
• Risk Monitoring and Control Tools and Techniques
• Workarounds
• Risk Monitoring and Control Outputs

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