Project Risk Management

The overall aim of this course is to enable participants to plan, manage and control project risks. Moreover, participants will be able to develop a project risk management plan and identify project risks related to the project's triple constraints which are: scope, schedule and resources. The course also aims at assisting participants in qualifying and quantifying project risks and developing appropriate risk responses. In line with the above, participants will also design and calculate key performance indicators for monitoring and controlling project risks.

The course uses a mix of interactive techniques, such as brief presentations by the consultant and the participants and group exercises. The course also includes calculations and analysis of real case studies related to project risk management.

By the end of the course, participants will be able to:

• Develop project risk management plans
• Identify project scope risks
• Predict project schedule risks
• Examine project resource risks
• Apply quantitative and qualitative risk assessments
• Plan strategies for negative and positive risks
• Devise metrics to monitor and control project risks

Project risk related templates will be distributed during the course.

• Planning risk management
•          Risk components
•          Project selection
•          Risk preferences
• Identifying scope risks
•          Sources of scope risk
•          Defining deliverables
•          Work breakdown structure (WBS)
• Identifying schedule risks
•          Sources of schedule risk
•          Activity definition
•          Estimating activity duration
• Identifying resource risks
•          Sources of resource risk
•          Resource planning methods
•          Staff acquisition
• Qualifying and quantifying project risks
•          Quantitative and qualitative risk analysis
•           Quantifying risks using PERT analysis
•          Common continuous risk distributions
• Developing risk response strategies
•          Categories of risk
•          Risk management strategies
•          Risk response planning
• Monitoring and controlling project risks
•          Implementing response plans
•          Collecting project status
•          Metrics and trend analysis
•          Project reviews and risk reassessment

·         Planning risk management

·         Risk components

·         Project selection

·         Risk preferences

·         Project risk planning processes

·         Risk management plan elements

·         Identifying scope risks

·         Sources of scope risk

·         Scope change risks

·         Defining deliverables

·         Work breakdown structure (WBS)

·         Bottom-up approach

·         Identifying schedule risks

·         Sources of schedule risk

·         Activity definition

·         Estimating activity duration

·         Applying estimating techniques

·         Activity sequencing 

·         Identifying resource risks

·         Sources of resource risk

·         Resource planning methods

·         Staff acquisition

·         Cost estimating and cost budgeting

·         Managing project risks

·         Qualifying and quantifying project risks

·         Quantitative and qualitative risk analysis

·         Risk probability

·         Risk impact

·         Qualitative risk assessment

·         Quantitative risk assessment

·         Risk assessment matrices

·         Quantifying risks using PERT analysis

·         Common continuous risk distributions

·         Expected monetary value (EMV) analysis

·         Decision tree analysis

·         Developing risk response strategies

·         Categories of risk

·         Risk management strategies

·         Risk response planning

·         Contingency planning

·         Risk registers 

·         Monitoring and controlling project risks

·         Implementing response plans

·         Collecting project status

·         Metrics and trend analysis

·         Project reviews and risk reassessment