Course Details
Course Outline
5 days course
Introduction to Risk Management
- Definition of risk and its impact in project management
- Understanding the concept of risk management and its significance within the project environment
- Identifying critical success factors and conditions for effective project risk management
- Discussing different roles and responsibilities in risk management (e.g. project managers, risk owners, stakeholders)
- Analyzing the influence of organizational risk attitudes and structures on risk perception and management strategies
- Case study highlighting the significance of risk awareness and management in project management
Risk Identification and Analysis Techniques
- Identifying critical success factors in risk identification and how to establish a structured approach to detecting project risks
- Exploring common project resource risks and their impact on projects
- Tools and techniques for risk identification:
- Brainstorming
- SWOT analysis
- Delphi technique
- Cause-and-effect diagrams
- Describing the qualitative risk analysis methodology and its techniques:
- Probability-impact matrices
- Expert judgment
- Exploring qualitative risk analysis tools and techniques:
- Risk rating scales
- Risk registers
- Sensitivity analysis
- Discovering semi-quantitative risk analysis tools and techniques for a flexible risk assessment
- Practical exercise on risk identification and prioritization using qualitative, quantitative and semi-quantitative techniques
Project Definition and Risk Planning
- Tools and techniques for identifying stakeholders and analyzing their influence on risk decisions
- Understanding stakeholder risk tolerances, attitudes, and how they impact risk response strategies
- Guidelines for defining the project and creating a clear project management plan to reduce uncertainty
- Discussing the integration of risk management in scope, schedule, and cost management
- Understanding risk considerations related to project quality management
- Practical exercise on Developing a risk register for a sample project
Risk Monitoring and Control Strategies
- Discussing the significance of monitoring and controlling risks
- Exploring risk reassessment techniques and their application throughout the project lifecycle
- Guidelines for conducting risk audits and evaluating the effectiveness of risk responses
- Discovering variance and trend analysis techniques used to detect emerging risks and deviations from project plans
- Understanding the earned value management (EVM) approach for risk control
- Describing reserve analysis methodology and its role in addressing project uncertainties
- Practical exercises on analyzing project risks using monitoring and control strategies
Risk Management Planning and Response Strategies
- Guidelines for developing an effective risk management plan
- Recognizing the importance of contingency planning and preparing for unforeseen risks
- Determining when and how risk escalation is needed for resolving risk issues
- Exploring key risk response strategies:
- Avoidance,
- Mitigation,
- Transfer
- Acceptance.
- Methods to integrate risk responses into project plans and ensure the alignment with project goals and constraints
- Practical exercise on applying risk management concepts in a simulated project environment
