Project Risk Management

DURATION

5 days

DATE

13 – 17 Aug, 10-14 Sep, 8-12 Oct, 12-16 Nov, 3-7 Dec 2018

FEE

£3850

LOCATION

Holiday Inn Express Hotel 1 Priddys Yard Croydon CR0 1TS

Course Description

Projects, by their very nature, always carry uncertainty (i.e. risk). This training course teaches the practical steps and skills involved in identifying and dealing with the broad range of uncertainty typically found in projects, commonly referred to as project risk management.

Who should Attend?

This course is designed for those new to working in projects, or non-project staff who wish to gain a basic understanding of the project environment and project management terminology.

  • Project team members who are new to the project environment.
  • Staff who are required to interact with the project team but may not be directly involved in project activity.
  • People who are considering a move into the project environment.
  • Project managers with an interest in being exposed to the terminology associated with best practice as defined by the APM.

Course Objectives

  • how to improve the identification of risk on your types of projects
  • how to assess and analyse risk
  • how to manage risk and demonstrably increase the likelihood of project success
  • how to develop successful mitigation and contingency plans
  • how to conduct a formal risk assessment and develop your own risk management plan

This course can also be taken in

Accra:29Jan-2Feb, 23-27 Apr, 14-18 May, 27-31Aug, 19-23Nov 2018

Dubai:29Jan-2Feb, 23-27 Apr, 14-18 May, 27-31Aug, 19-23Nov 2018

Course Content

Overview

  • What is project risk ? The nature of projects – uncertainty
  • Individual and Corporate attitudes to risk?
  • Why is risk different?
  • Risk -v- estimating uncertainty – why they must be treated separately
  • Principles of effective risk management.
    •  

    Identification

    • The life-cycle of risk and projects – key events in where it must be measured
    • Types of project risk – broadening the perspective
    • Methods of identification, structured and informal
    • Methods of improving data capture, common issues with the data
      • Distinguishing between:  risk and estimating uncertainty; issues; and outcome

      Assessment

      • Benefits of assessment before quantitative analysis
      • Assessment methods – choices and options

      Planning

      • Options open to managing every risk
      • Risk mitigation – what it is and when to apply
      • Contingency planning – what it is and when to apply
        • Integrating risk planning with: project estimating, budgeting and planning and EVM.

        Statistical Analysis

        • When to use Monet Carlo and what to use if for
        • How to construct a Monte Carlo data model for project cost or schedule
        • Typical Outputs – using the results productively at key project decisions

        Management of process

        • Integration with budgeting; schedules etc
        • Integration risk with Earned Value Management
        • Integrating and using key data at project Gates
        • Integrating outputs into plans and forecasts (including resource)
        • Effective measures for managing the overall process – KPIs

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