Training Schedule
Project Risk Management
Course Category: Project Management Courses
Duration: 2 days
Price: 945 + VAT
Type: Public, In-House
Starting Dates:
10/12/08 - Available - Book now »
26/02/09 For Two Days - Available - Book now »
27/04/09 For Two Days - Available - Book now »
22/06/09 For Two Days - Available - Book now »
17/09/09 For Two Days - Available - Book now »
In House Training available - Book Now »
Course Overview
By the end of the course participants will be able to:
- Understand how risk management fits within traditional project management
- Understand the elements of the standard ‘risk management toolkit’
- Understand how to employ different methods to help identify the risks that relate to projects and programmes
- Develop a measurable assessment of the impact of the risks that are identified and how likely these risks are to happen
- Identify the most effective mitigating actions
- Conduct sensitivity analysis on risks
- Promote common understanding and commitment within the business
- Track and report progress on risks and the effectiveness of the mitigation
- Deal with the most common reasons for problems with risks, such as lack of commitment or understanding and the ‘illusion of control’
The course will focus on the core principles of risk management, augmented by the use of group work and role plays. The use of project risk tools is also discussed, such as checklists, decision trees and software. Course handouts will include all course materials.
Course Synopsis
Summary of project management principles
• Definition of Projects
• Typical Project life cycle
• Typical Project organisation
• Managing the balance between certainty and uncertainty
Project risk overview
• What are project risks?
• Why are project risks different from other risks?
• The difference between risks and symptoms
• A standard framework to think about risk – what is uncertain, complex, assumed, unknown or unclear
• Why risk management is so important
Project risk management toolkit
• A standard approach
• The difference between tools and management
Risk identification
• How to employ standard techniques, such as interviewing, brainstorming, risk expertise, corporate experience
Impact analysis
• Materiality of effects on timeframes, cost, quality
• Likelihood
Risk mitigation
• Removal, reduction, avoidance, acceptance, allocation and transfer
• Force field diagrams
• Immediate or contingent response
Sensitivity analysis
• How much is a risk worth?
• Costs of mitigation vs costs of impact
• Flexibility and choice
Focus groups
• Stakeholder identification
• SCARI – specifies, conducts, approves, reviews, informed
• Influence Diagrams
• Gaining commitment and enforcing responsibility
Risk logging/recording
• Information requirements
• Standard proformas
• The need for central control
Risk monitoring and control
• Responsibilities (SCARI)
• Reporting cycles
• Project monitoring
• Documentation
• Communication
• Making decisions (Decision Trees, etc)
• The need for central and local responsibility
Risk management within the project life cycle
• When should it be done?
• Initiation/development/implementation/post-implementation
• 1/10/100 rule
Common problems and conclusions
• Why risks are the major cause of failure, in spite of the toolkit
• Overview and messages to take away
• Useful sources of support – internal and external bodies of knowledge
• Suggested checklists
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