30 May, 2015
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Audience

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

Dates (Bath):

18 May 2015

20 July 2015

21 Sept 2015

2 Nov 2015

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Also available on your site, please call for details.

Prerequisites

A basic knowledge of project management fundamentals and techniques is required.

Duration

3 days.

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

Course 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 through a combination of lectures and hands on practical exercises. The structure and details of the course follow industry standard methods, in particular, the Project Management Institute (PMI) body of knowledge.

At the end of this course, delegates will:

  • 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.
  • Be able to 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
What is Risk?
Project Risk.
Classifying Risk.
The Project Environment.
Development methods and Risk.
PMBOK Approach to Risk Management.

Risk Management Planning
Plan Risk Management Activity.
Inputs Techniques and Outputs.
Risk Management Plan Contents.
Risk Breakdown Structure.
Risk Impact Scales.

Communication
Approach to Communications Management.
Stakeholder Identification and Analysis.
Stakeholder Management.
Communication Requirements Analysis.
Communication Models and Methods.
Communications Management Plan.
Managing Stakeholder Expectations.

Estimating Risk
Cone of Uncertainty.
Sources of Error in Estimating.
Sliding Planning Window.
Top Down Estimating.
Bottom Up Estimating.
Estimating with ranges.
Scheduling, Critical Path, Gantt Charts.
Resource Assignment.

Risk Identification
Scope and Work Breakdown Structure.
Costs and Benefits Estimates, Duration Estimates.
Checklist and Assumptions Analysis.
Brainstorming.
Delphi Techniques, Interviewing.
Root Cause Analysis, Ishikawa Diagrams.
Process Modelling, Rich Pictures, Mind Maps.
Influence Diagrams.
SWOT Analysis.
Risk Register.

Risk Analysis
Qualitative Risk Analysis.
Probability and Impact Assessment.
Risk Plotting.
Probability and Impact Matrix.
Risk Categorisation.
Quantitative Risk Analysis.
Three Point Estimating.
Statistics and Estimating.
Sensitivity Analysis, Tornado Diagrams.
Sensitivity in Cost/Benefit Analysis.
Expected Monetary Value Analysis.

Risk Response Planning
Strategies for Dealing with Risks.
Avoid, Transfer, Mitigate, Accept.
Contingent Response Strategies.
Risk Register Updates.

Executing and Monitoring Risk
Risk Monitoring.
Variance and Trend Analysis.
Analysing Progress.
Risk Register Updates.

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