Advanced Project Risk Management

Have you been surprised by unplanned events during your projects? Are you and your project team frequently fighting fires? Well, you are not alone. Uncertainty exists in any project environment.

While it may not be possible to predict project outcomes with 100% certainty, you can influence the outcome, avoid many potential risks and be ready to calmly and efficiently respond to unavoidable challenges instead of reacting to them and possibly making things worse. With the proper knowledge, risk can be identified, assessed, planned for and controlled.

The goal of this course is to teach the specific knowledge needed to set up risk management in your projects and to help you implement risk management processes to achieve consistent and predictable results in organizations where a higher level of risk management is required. This course is aligned with A Guide to the Project Management Body of Knowledge (the PMBOK
Guide).

Who is the Course for?

• Project and program managers
• Managers of project managers
• Team members working on high-risk projects

Course Overview:

Getting Started

• Introductions
• Course structure
• Course goals and objectives

Foundation Concepts

• Risk-related definitions
• The risk management process
• High-risk projects and project failures
• Classical failures in implementing risk management

Plan Risk Management

• Project Risk Management and Governance
• Risk management planning for high-risk projects
• High-risk variations on a risk management plan

Identify Risk

• Adapting the risk identification process for high-risk projects
• Recognizing risks spontaneously
• Confirming and structuring risk events for treatment
• Wrapping up risk identification for high-risk projects

Perform Qualitative Risk Analysis

• Adapting qualitative risk analysis for highrisk projects
• Accelerating risk analysis
• Clearing risk action
• Wrapping up qualitative risk analysis for the next level

Perform Quantitative Risk Analysis

• Adapting quantitative risk analysis for high-risk projects
• Risk analysis and data quality assessments
• Building a foundation for quantitative risk analysis
• Using discrete quantitative tools
• Using continuous quantitative tools
• Wrapping up quantitative risk analysis for high-risk projects

Plan Risk Responses

• Adapting risk response planning for highrisk projects
• Optimizing active risk response strategies
• Leveraging contingencies for high project performance
• Wrapping up risk response planning for high-risk projects

Monitor and Control Risks

• Adapting risk monitoring and control for high-risk projects
• Optimizing risk plan maintenance
• Weaving risk reassessment into the project's progress
• Maintaining a continuous vigil in high-risk project environments

Eligibility:

A good working knowledge of project management, as well as some experience managing projects