PM 243 – Project Risk Management

Workshop Description

Risk is an important reality in business because we live in a world of uncertainty. This course provides a comprehensive overview of risk and strategies on how to manage it. It acknowledges that not all risk is bad, that in fact with risks we also encounter opportunities. The course is structured around the risk management process defined in A Guide to the Project Management Body of Knowledge, (PMBOK® Guide), published by the Project Management Institute (PMI)®.

The course provides a systematic approach of identifying risks, analyzing the risks for potential impact to the organization or project, creating strategies to mitigate risks, applying risk response measures when risk events occur, and establishing procedures for monitoring, controlling, and reporting on risks. Both concepts and practical tools are provided for students to manage risk in their own organizations and projects.

Download a PDF version of the course outline (40KB PDF).

Duration

2 day workshop.

What You Learn

Participants gain a comprehensive understanding of the nature of risk and uncertainty and strategies to manage it on projects, in business, and in life in general. Learn to step through the five-phased risk management process using a structured approach to dealing with risks that could impact operations or projects. Learn key strategies, tools, and techniques employed by experts to manage and control risk and uncertainty.

  • The Risk Management Framework based on PMI® standards
  • Effective processes for managing risks on projects
  • Integrating risk management into your project plans
  • Identifying risks which might impact your project
  • Assessing risks based on the severity of their impact on your project
  • Effective risk monitoring techniques
  • Establishing an effective risk control strategy
  • Re-evaluating risk at each stage of the project
  • Master basic project management skills, methodologies, tools

Who Should Attend

The Project Risk Management course is ideal for all skill levels of managers, supervisors, and staff working in private or public organizations in either an operational capacity or those working on project teams

Workshop Topics

  • Overview of risk management
  • Risk management planning
  • Risk identification
  • Analyzing risks
  • Risk response strategies
  • Risk monitoring and control
  • Risk management software

Prerequisites

There are no prerequisite for this course.

Participants Receive

  • Two full days of instruction
  • Comprehensive PM reference binder
  • Certificate of completion
  • Project manager’s toolkit

Professional Development Credits

Participants earn

  • 15 hrs of approved project management education credits towards new applications for Project Management Professional (PMP)® and Certified Associate in Project Management (CAPM)® Certification from PMI®.
  • 15 PDU, professional development credits towards maintain PMP® credentials.

The Instructors

Each instructor is a working project management professional. We employ senior project managers that bring a wealth of practical experience to every workshop.

Topics Covered

  • The risk management processes
  • Strategies for risk planning
  • Methods of identifying and categorizing risks
  • Creating a risk register
  • Qualitative risk analysis
  • Quantitative risk analysis
  • Strategies for responding to risks
  • Techniques for monitoring and controlling risks
  • Risk reporting
  • Risk management software