Risk Management

Audience

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.

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 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