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Project Risk Management

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Content starts here
At a glance
Schedule and Registration Schedule
Course number HE536S
Length 3 days
Delivery method Instructor-led training ( ILT)
Onsite dedicated training ( OST)
*Courses are supported in the delivery formats above, but are not necessarily scheduled in every delivery format listed. Please click the schedule links at the top of the page to see which delivery formats are currently scheduled.

Course overview

Project Risk Management offers a proven method forincorporating risk management processes as integralelements of project management. The course will presentdifferent approaches to identify risks; qualitative andquantitative methods to analyze risks and determine theirimpacts; risk ranking and response techniques; andapproaches to monitor, control, and communicate risksthroughout the project life cycle.



Prerequisites

  • A comprehensive introductory project management course such as Project Management Fundamentals (HC577S)

Audience

  • This course is intended for project managers, project team members, technical leads, systems engineers or anyone with a substantive role in the success of projects who is interested in best practices that apply to diverse projects in multiple industries. It is especially suited for people seeking project management certification
  • By successfully completing this course, the participant earns 21 educational contact hours or PDUs which may be applied to meet PMI® requirements for initial or continuing certification requirements

Course objectives

At the completion of this course, students will be able to:

  • Use basic project risk management terminology
  • Create risk management plans appropriate to the project size,complexity, and risk level
  • Identify project risks by using different identification tools
  • Perform qualitative risk analysis to prioritize risks for response andmonitoring
  • Perform quantitative risk analysis to assess risk to overall projectcost and schedule objectives
  • Plan appropriate risk responses based on risk analysis
  • Control risks based on a risk response plan and project executionresults
  • Communicate risks effectively to project stakeholders

Next steps

  • Leadership and Communication Skills for Project Managers (HE537S) and other advanced Project Management topics leading to recognition of your knowledge and skill by passing the Project Management certification examination appropriate to your country or region

Benefits to you

  • Identify key project risks
  • Incorporate probability into your risk calculations
  • Examine and characterize the impacts of risks on your project
  • Determine appropriate risk response techniques to use
  • Plan, monitor, update, and control the risk process
  • Prepare and execute a risk management plan
  • Establish a risk culture in your organization

Course outline

Lesson 1: Risk Management Overview

  • Key Risk Terminology
  • Risk Management Process
  • Risk Stakeholders
  • Establishing a Risk Culture
  • Lesson Conclusion

Lesson 2: Plan Risk Management

  • Risk Management Planning
  • Scalable Planning Methods
  • Stakeholder Risk Tolerance
  • Probability and Impact Scales
  • The Risk Register
  • Risk Management Plan
  • Lesson Conclusion

Lesson 3: Identify Risks

  • Identifying Risks
  • Risk Identification Tools & Techniques
  • Writing Risk Statements
  • Lesson Conclusion

Lesson 4: Perform Qualitative Risk Analysis

  • Perform Qualitative Risk Analysis
  • Probability and Impact
  • Risk Probability and Impact Assessment
  • P x I Matrix
  • Lesson Conclusion

Lesson 5: Perform Quantitative Risk Analysis

  • Perform Quantitative Risk Analysis
  • Decision Analysis and Support
  • Analyzing Cost and Schedule Risk
  • Project Cost Estimates Using PERT
  • Project Cost & Schedule Risk Analysis Using PERT
  • Monte Carlo Simulation
  • Lesson Conclusion

Lesson 6: Plan Risk Responses

  • Plan Risk Responses
  • Risk Response Strategies
  • Documentation Updates
  • Lesson Conclusion

Lesson 7: Control Risks

  • Control Risk
  • Risk Monitoring Tools
  • Communication of Risk Results to Stakeholders
  • Risk Status Reports
  • Lesson Conclusion

Lesson 8: Course Summary

  • Risk Management Process
  • Plan Risk Management
  • Identify Risks
  • Perform Qualitative Risk Analysis
  • Perform Quantitative Risk Analysis
  • Plan Risk Responses
  • Control Risks
  • Developing an Action Plan

HC536S D.00

 
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