Objectives:
This course is solely for Professionals working in Project Management. The overall objective is to ensure that participants are familiar with the concept of reliability and fundamentals of risk management.
Who should attend?
- Project managers, program managers and project management practitioners who are or will be involved in the areas of engineering, production, data processing, research and development, construction, corporate planning, finance and marketing.
- Executives, managers and supervisors in government and industry who are concerned with effectively managing ventures and projects where cost, schedule and performance of programs must meet rigid requirements.
- PMP credential.
Training Method:
- Pre-assessment.
- Live group instruction.
- Use of real-world examples, case studies and exercises.
- Interactive participation and discussion.
- Power point presentation, LCD and flip chart.
- Group activities and tests.
- Each participant receives a binder containing a copy of the presentation.
- Slides and hand-outs.
- Post-assessment.
Methodology:
- Interactive discussions.
- Groups Exercises.
- Case studies and highlight the techniques available to the participants.
Day 1: Introduction to Risk Management Concepts
- Objectives of Risk Management.
- Risk Management and the Project Life Cycle.
- Critical Issues Factors.
- When to accept risk and when to avoid.
- Groups Exercise.
Day 2: Principles and Concepts of Risk Management
- Definition of Risk and Risk Management.
- Stakeholder Risk Attitudes.
- Responsibilities for risk within projects.
- Stakeholder Risk Tolerance.
- Overview of the Risk Management Process.
Day 3: Plan Risk Management
- Components of the Risk Management Plan.
- Success criteria for Risk Planning.
- Techniques for Risk Planning.
- The Risk Management Plan.
- Groups Exercise.
Day 4: Identifying Risks
- What constitutes a risk.
- Typifying Risks.
- Risk Identification Techniques.
- Information Gathering Techniques.
- Dangerous Risks.
Day 5: Risk Trigger
- Identifying Risk Triggers.
- The Risk Register.
- Determining which risk tool to use.
- Quantitative and Qualitative Analysis.
- Groups Exercise.
Day 6: Performing Risk Analysis
- Categorising Risks.
- Risk Probability and Impact Risk Score.
- P-I Matrix.
- Risk Expected Monetary Value (EMV) calculation.
- Groups Exercise.
Day 7: Plan Risk Responses
- Risk Owners.
- Risk Action Owners.
- Strategies for Positive Risks.
- Strategies for Negative Risks.
- Risk and Contracting.
Day 8: The Action Plan
- The Risk Response Action Plan.
- Contingency Planning and Calculating the Contingency Fund.
- Secondary Fund.
- Residual Fund.
- Groups Exercise.
Day 9: Monitor and Control Risk
- Risk Re-assessment.
- Process Improvement.
- Managing Contingency Reserves.
- Risk Audits.
- Trend Analysis.
Day 10: CASE STUDY
Language: English
Place: London – UK
Venue (TBC): Radisson Edwardian Sussex Hotel (Address: 19-25 Granville Pl, Marylebone, London W1H 6PA).
