Project Risk Management | Live Instructor Led Class
Project Management Experts, LLC
Course description
Project Management Overview
The objective of Risk Management is to introduce the students to basic risk assessment and management concepts that can be app lied directly to their projects. Using a discussion and exercise format, the students will learn r isk management following the foundation provided in the Guide lo the Project Management Body of Knowledge ( PMBOK® Guide) established by the Project Management Institute (PMI). Student will perform a risk assessment using project data from a project of their choosing. Upon completing the class students will understand all aspects of risk assessment including risk management planning, risk identification, qualitative and quantitative risk analysis, risk response planning, and implementing and monitoring risks.
Training content
Introduction
- Background
- Definitions
- Triple Constraints
- Cost of Rework
- Management of Expectations
- Influence of Risk Across the Project Lifecycle
- Risk Tolerance
- Role of the Project Manager in Risk Assessment
- Role of the Project Team and Subject Matter Experts in Risk Assessment
- Project Management Process Groups
- Mapping Process Groups and Knowledge Areas
Initiating
- Develop Project Charter
- Contents of the Project Charter
- Identify Stakeholders
- Power/Interest Grid
- High Level Risk Assessment
- Exercise: Project Charter and High Level Risk Assessment
Planning
- Project Management
- Plan Project/Product Analysis
- Project Analysis Checklist and Survey (PACS)
- Sample Project Management Plan
- Risk Management Process
Plan Risk Management
- Risk Management Process
- Organizational Risk Tolerance
- Probability and Impact Matrix
- Impact Matrix
- Contingency Reserve
- Management Reserve Risk
- Management Plan
- Exercise: Risk Management Plan
Identify Risks
- Identify Risk Process
- Risk Identification Techniques Risk Triggers
- Risk Owners
- Risk Register Creation
- Exercise: Risk Identification
Perform Qualitative Risk Analysis
- Qualitative Risk Analysis Process
- Probability of Occurrence
- Impact on Project Objectives
- Risk Score
- Risk Register Updates
- Exercise: Risk Prioritization
Perform Quantitative Risk Analysis
- Quantitative Risk Analysis Process
- Expected Monetary Value
- Contingency Reserve vs. Management Reserve
- Decision Tree Analysis
- Simulation Models
- Risk Register Updates
- Exercise: Calculating Expected Monetary Value
Plan Risk Response
- Risk Response Process
- Risk Response strategies
- Contingency and Fallback Plans
- Residual Risks vs. Secondary Risks
- Risk Register Updates
- Project Management Plan Updates
- Exercise: Risk Response Creation and Project Management Plan Updates
Monitoring and Controlling
Implement Risk Response Process
- Expert Judgment
- Interpersonal and Team Skills
- Project Management Information Skills
- Change Requests
- Project Documents Updates
Monitor Risks
- Monitor Risk Process
- Updating the Contingency Reserve
- Risk Register Updates
- Managing impacts on the project
- Exercise: Risk Register and Contingency Reserve Update
Certification / Credits
- Define risk management and discuss the importance of risk management from initiating through project closing.
- Discuss roles and responsibilities of various stakeholders in risk management
- To develop a comprehensive risk management plan that can be used throughout the project and on future projects.
- Identify the sources of risks.
- Discuss the process of risk management including identify activities, perform qualitative and quantitative analysis, plan risk responses, implement ri sk responses, and monitor risks
Why choose PME?
Over 300 instructor-led and online course offerings in project management, leadership, and business management
Courses taught by experienced practitioners
Leading provider of project management and agile certifications
About PME
Project Management Experts, LLC
Project Management Experts (PME) is just that, a consortium of project management experts with at least 20 years of experience who have re-directed their careers to improving the project management competency of our clients. Our training classes focus on building...
