Project Risk Management Training

This training course will teach the practical steps and skills involved in identifying and managing project risk.  The course will show how to implement one of the most important and yet least practised elements of project management. 

Key learning objectives include:

• the difference between risk and estimating uncertainty & why this is important
• how to improve the identification of risk, instead of general outcomes
• how to improve the capture and communication of risk information
• how to assess and analyse risk
• how to manage risk and demonstrably increase the probability of project success
• how to model cost and schedule risk
• how to measure risk at the whole project level

1 day £349 per delegate plus VAT (2 days as in-house project based workshop)

Anyone involved in the management of projects

Overview

• What is project risk ? The nature of projects - risky!
• Individual and Corporate attitudes to risk?
• Why is risk different?
• Risk -v- estimating uncertainty - why they must be treated separately
• Principles of effective risk management.

• Overview of the process: why it is structured in this way - benefits of this approach
• Developing a risk management framework

• The lifecycle of risk and projects – key events in where risk must be measured
• Types of project risk – broadening the perspective
• Methods of identification, structured and informal
• Methods of improving data capture, common issues with risk management data
• Distinguishing between  risk and: estimating uncertainty, issues; and outcomes.

Risk Evaluation

• Benefits of evaluation before analysis
• Evaluation methods

• Analysing and presenting Cost, schedule and technical impact

Risk Planning

• Valid Approaches to managing risk
• Risk mitigation – what it is and when to apply
• Contingency planning - what it is and when to apply
• Integrating risk management with: a) project estimating, budgeting and planning.

Statistical Analysis

• How to construct a Monte Carlo for project cost or schedule
• Typical Outputs - using the results
• How to use the output productively when all it shows is that you can't meet the plan

Management of process

• Risk management and the budgeting process
• Risk management and schedule integration
• Integrating risk into performance measurement processes (EVM)
• Integrating and using risk data at key project Gates
• Integrating risk into all plans and forecasts (including resource)
• Effective measures for managing the overall risk process