Risk Management Training Course

Course Objectives

This course focuses on improving the project manager’s risk management expertise in all five process groups of the project management life cycle. Participants will apply all the principles taught in the class to a work-related case study taken directly from their work environment. At course completion, students will be able to identify, analyze, respond to, and control project risks.

Pedagogical Methods

A blended learning approach will be adopted consisting of classroom lectures to explain the underlying concepts of project risk management, along with live examples from the industry. The course will also include periodic quizzes and a final test after completion of the course.

Who will Benefit

This course is designed for all project managers and project team leaders.

Course Content

Risk Management Fundamentals

  • Risk Management Benefit and Uses
  • Project Risk Management
  • Project Management Life Cycle

Initiating Process Group

  • Initiating Process Group Overview
  • Develop Project Charter
  • Identify Stakeholders
  • Project Selection Criteria
  • ROI Analysis
  • ROI Methods
  • Risk Complexity Index
  • Project Selection

Planning Process Group

  • Planning Process Group Overview
  • Scope Risks
  • Schedule Risks
  • Resource Risks
  • Plan Risk Management
  • Identify Risks
  • Delphi Technique
  • Subject Matter Expert Input
  • Brainstorming
  • Fishbone Diagrams
  • Process Analysis
  • Five Whys
  • Influence Diagrams
  • Risk Breakdown Structure (RBS)
  • Risk Register
  • Perform Qualitative Risk Analysis
  • Probability and Impact Assessment
  • Probability and Impact Chart
  • Perform Quantitative Risk Analysis
  • Three point estimates
  • PERT
  • Triangular Distributions
  • Geometric Mean
  • Normal Distributions Methods
  • Tornado Diagrams
  • Expected Monetary Value (EMV)
  • Monte Carlo
  • Plan Risk Responses
  • Risk Response Strategies
  • Overall Project Risk
  • Checklists

Executing, Monitoring and Controlling Process Groups

  • Executing Process Group Overview
  • Monitoring and Controlling Process Group Overview
  • Control Risks
  • Project Monitoring
  • Longer Projects

5 – Closing Process Group

  • Closing Process Group Overview
  • Close Project or Phase
  • Risk Activities During Closing Process Group
  • Post-Project Risk Assessment