Project Risk Management
Face-to-face duration: 1 days
Project Risk Management aims to provide participants with the performance outcomes, skills and knowledge required to manage risk within a project to avoid adverse effects on project outcomes. It covers identifying, analysing, establishing risk treatments and controls, monitoring and controlling project risks, and assessing risk management outcomes.
The course will provide participants with the tools and techniques to identify, analyse, establish, manage and control project risks more effectively in order to give more certainty to the project sponsor and stakeholders.
This one day (1) course is aligned to the knowledge area of the Project Management Body of Knowledge (PMBOK®) Guide Fifth Edition and links risk management to the five key project management processes required for all projects: initiating, planning, executing, monitoring & controlling, and closing.
- Identify, document and analyse risks, in consultation with stakeholders and higher project authority, as the basis for risk planning.
- Use established risk management techniques and tools within delegated authority to analyse risks, assess and establish options and recommend preferred risk approaches.
- Develop risk management plans, secure agreement of stakeholders and communicate plans to ensure clarity of understanding and ongoing management of risk factors.
- Establish designated risk management processes and procedures to enable effective management and communication of risk events, responses and results.
- Manage project in accordance with established project and risk management plans to ensure a common approach to the achievement of objectives.
- Monitor progress against project plans to identify variances and recommend responses to a higher project authority for remedial action.
- Implement agreed risk responses and modify plans to reflect changing project objectives in an environment of uncertainty.
- Review project outcomes to determine effectiveness of risk management processes and procedures.
- Identify and document risk issues and recommended improvements, and pass on to higher project authority for application in future projects.
- A practical, eight-step process to manage project risks
- Planning for risks
- Identify threats and opportunities and weigh their relative value in the project
- Analyse rank and prioritise risks
- The use of risk registers
- Control multiple risks using limited strategies
- The use of decisions trees
- Planning response to risks
- Risk assessment and response development
- Overcome psychological barriers to risk in stakeholders and team members; and
- Make risk and opportunity integral components of your next project plan
- Individual and group activities.
- Short lecture sessions.
- Case study.
- Practical and experiential.
- Group discussions.
This one (1) day course has been designed by our senior trainers who combine industry experience with academic excellence.
Our program design and delivery is based on adult learning principles and experiential learning.
Participants will also receive a state of the art student manual with all reference materials, PowerPoint presentations and activities.