COURSE COVERAGE

INTRODUCTION

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.

Course Methodology

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.

Course Objectives

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

Target Audience

Project risk managers, risk owners, project managers, members of project offices, project sponsors, functional managers, senior management and individuals interested in project risk management. This course is worth 30 PDUs.

Target Competencies

• Planning risks
• Identifying risks
• Assessing risks
• Evaluating responses
• Monitoring risks
• Reviewing risks

Note

Project risk related templates will be distributed during the course.

Course Outline

• 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

Duration: 2 days

Class Session : 10:00am – 4:00pm each day including Breakfast and Lunch time

Customize Your Training

This training solution and other training topics from McTimothyAssociates are currently available as residential/in-house option.

Please Note

McTimothy Associates Reserves the right to postpone or cancel a course due to unforeseen circumstances beyond our control. In such cases delegate(s) will be registered for the next run of the Course.