Effective Risk Management Techniques
How often are your projects impacted by an unanticipated event? Do you find yourself constantly "putting out fires" on your projects? Take this one-day course and improve your ability to identify and manage the opportunities and threats on your projects. Become proative rather than reactive by learning an effective risk management process, including best practices for risk identification, risk analysis and risk response planning
This course will cover the elements of a successful risk management plan. Effective methods for identifying risks will be discussed. Qualitative risk analysis tools and techniques will be presented. Successful planning methods for responding to potential risk events will be reviewed. Application of risk management to project budgets, schedules and contracting strategies will be described using specific examples. This course will be highly interactive, with exercises and sample problems to allow attendees to practice the tools and techniques presented during the course. Attend this course and become a skilled manager of risks on your projects!
WHO SHOULD ATTEND
This course will benefit project managers, project team members, functional managers and individuals involved with the planning, implementation and control of projects who are looking to become more proficient in managing risks.
COURSE FEATURES
This practical course emphasizes the fundamentals of effective risk management. This course mixes instruction, dialog and real-world examples and exercises drawn from the experience of our instructors. Upon completion of this course, you will be able to:
- Explain the elements of a good risk management plan.
- Utilize the cause-risk-effect method for identifying risks
- Use a probability-impact risk rating matrix
- Use risk response tools.
- Explain how to use risk analysis techniques to determine project contingencies.
COURSE OUTLINE
Risk Management Process:
- Definition of Risk Management
- Risk Tolerance (Stakeholders, Corporate, Individual)
- Risk Management Processes
Risk Identification Techniques:
- Brainstorming
- Checklists
- Cause and Impact Diagram
- Causes-Risk Events-Impacts
Qualitative Risk Analysis Techniques:
- Uncertainty Statements
- Risk Severity Dimensions
- Four Impacts of Risk Events
- Probability - Impact Matrix
- Numeric Probability - Impact Matrix
Risk Response Planning Techniques:
- Avoid - Exploit
- Transfer - Share
- Mitigate - Enhance
- Accept
- Contingency Plans
Risk Monitoring and Control:
- Scanning the Horizon for New Risks
- Reviewing the Risk Plan at Project Meetings
- Sample Risk Reports
KNOWLEDGE AREAS ADDRESSED
This course addresses the Risk Management knowledge area of the Project Management Institute's A Guide to the Project Management Body of Knowledge.
Earn 7 PDUs