Course Name:

Advanced Project Risk Management

Description:

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

It will also show how to integrate risk management into the mainstream of projects, including integrating risk management with areas such as earned value management (EVM).

Course Duration

1 day £399 per delegate plus VAT (2 days as in-house workshop)

Intended for (who)

Anyone involved in the management of projects

Course objectives:

•  To demonstrate how to develop a framework for identifying, assessing and managing risk
•  To teach all skills necessary to identify, capture, communicate, evaluate, analyse and manage risk
•  To demonstrate how to control the risk management process per project

Course Session:

Session aim/ objectives / purpose / benefits

Overview of Risk

•  attitudes to risk
•  why is risk different
•  what is risk – and what is not
•  risk –v- estimating uncertainty - how to deal with each one

The risk process

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

Risk identification

•  types of project risk – broadening the perspective
•  methods of identification, structured and informal
•  methods of improving data capture, issues with risk management data
•  what brings risk into projects – key points in every project management lifecycle
•  when and how to identify risks

Risk Evaluation

•  Benefits of evaluation before analysis
•  Evaluation methods

Risk Analysis

•  Analysing 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 the output of risk management with:
    a) project estimating and budgeting
    b) project performance measurement, e.g. EVM

Management of the risk process and data

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

Once attended this course

•  you will be able to conduct all aspects of the risk management process