Duration: 4 Days
This course is designed for project managers who want to proactively reduce the probability of project failure. In this course, you will learn to use proven approaches and techniques specific to risk management. You will learn to plan and analyze projects so as to minimize risk in a formal environment. You will identify, analyze, and address uncertainty throughout the project lifecycle and incorporate lessons learned and industry best practices related to risk management. You will apply PMI risk management processes in a practical way to eliminate, mitigate, and minimize threats while maximizing and optimizing opportunities.
Students pursuing a university-recognized and/or accredited certificate in Canada or continuing education units in the US must attend at least 90% of class time, participate in class exercises and section-knowledge checks, and score at least 70% on an end-of-class, multiple-choice assessment.
What You Will Learn
- Assess overall project
riskiness
- Manage
uncertainty in terms of both opportunities and threats
- Role of a risk management plan
- Risk within an execution strategy
- Conduct qualitative risk assessments in order to rank risks
- Conduct quantitative risk assessments in order to adequately budget for
uncertainty
- Develop risk
response plans for significant risks
- Monitor and control uncertainty during execution
- Ensure success by understanding the role of a risk management plan and lessons
learned
Audience
Associate project managers, project managers, IT project managers, project
coordinators, project analysts, project leaders, senior project managers, team
leaders, product managers, and program managers.
Prerequistes
Do not take this course if you have taken IT Risk Management.
Course Outline
1. Risk Management Foundations
- Definition of a plan
- Definition of risk and risk management
- Risk management and project success
- Project management life cycle
2. Strategic Risk
Reduction
- Project success
factors
- Stakeholder
analysis
- Balancing
constraints within a plan
- Assessing project riskiness
- Importance of formal planning
3. Execution Risk
Reduction
- Risk management
plan
- Risk identification
techniques
- Qualitative risk
analysis
- Quantitative risk
analysis
- Risk response
planning
4. Monitoring and Controlling Risk
- Protecting the plan
- Change
controls
- Responding to
risks
5. Value of Lessons Learned
- Capturing and employing lessons learned
- Current methods of managing uncertainty based on lessons learned
Hands-On Activities:
- Determine sources of project risk by category
- Assess overall project risk
- Identify and categorize risk
- Perform qualitative risk analysis
- Perform quantitative risk analysis
- Plan risk responses
- Involve
stakeholders
Course Labs
