Project Risk Management

Risk is inherent in every project. Project risk is an uncertain event or condition that if it occurs, has a positive or a negative effect on project objectives. Risk Management is an organized systematic process of identifying analyzing, and responding to project risks. Today’s’ project manager must have the analytical ability to closely examine and assess the rake of each project, and take the necessary steps to mitigate the risk without compromising the integrity of the project.

Project Risk Management provides you with a structured approach for assessing and managing a wide variety of project risks. This five-day interactive workshop offers a proven methodology for systematically identifying, analyzing, and mitigating project risk, throughout project life cycle.

Course Objectives

Upon successful completion of this course, the delegates will be able to:

• Identify Project Risks which might affect the project
• Develop a Risk Management Plan for a Project.
• Perform a "Quantitative" analysis of risks
• Measure the probability and consequences of risks and estimating their impact on project objectives using "Quantitative" analysis.
• Develop procedures and techniques for risk response planning
• Monitor residual risk and control new risks throughout the project life cycle

Who Should Attend?

This course is designed for project planning engineers and managers, and senior project control and business services professionals who have the responsibility for controlling project schedules and costs in client and contracting companies

Course Outline

Day 1
Introduction And Overview Of Risk Management

• Risk Types
• Risk Classification

Day 2
Risk Management Planning

• Risk Management Plan
• Project Risks
• Qualitative Risk Analysis
• Quantitative Risk Analysis

Day 3
Risk Response Planning

• Tools and Techniques
• Outputs

Day 4
Risk Monitoring and Control

• Tools and Techniques
• Outputs
  • Corrective actions
  • Updates to the risk response plan
  • Risk database
  • Updates to risk identification checklists

Day 5
Monitor and Control Achievements

• Data, information and knowledge management

Course Methodology

A variety of methodologies will be used during the course that includes:

• (30%) Based on Case Studies
• (30%) Techniques
• (30%) Role Play
• (10%) Concepts
• Pre-test and Post-test
• Variety of Learning Methods
• Lectures
• Case Studies and Self Questionaires
• Group Work
• Discussion
• Presentation

Course Fees

This rate includes participant’s manual, Hand-Outs, buffet lunch, coffee/tea on arrival, morning & afternoon of each day.

Course Timings

Daily Course Timings
08:00 - 08:20       Morning Coffee / Tea
08:20 - 10:00       First Session
10:00 - 10:20       Coffee / Tea / Snacks
10:20 - 12:20       Second Session
12:20 - 13:30       Lunch Break & Prayer Break
13:30 - 15:00       Last Session