Course Description

This course addresses the six key processes of risk management in business.

1. Risk planning

2. Risk identification

3. Risk analysis

4. Risk monitoring

5. Risk control

6. Risk response planning

Application of risk assessments, contingency analysis, decision analysis and risk data accuracy will be addressed. Students will master the use of risk tools to identify, document, communicate and manage risks over the project life cycle.

Skills acquired will assist project team members and leaders to address common scope, schedule, quality, cost, and safety risks. Knowledge will be gained on devising proactive and effective threat avoidance, mitigation, transference and acceptance plans.

Course Outline

• Application of risk assessments

• Contingency analysis

• Decision Analysis

• Risk data accuracy

• Risk tools

• Threat responses of avoid, accept, mitigate, transfer

• Opportunity responses of exploit, enhance, accept, share

Learner Outcomes

• Understand how to develop and control contingency and management reserves to improve project cost, schedule and quality estimates and forecasts.

• Understand risk management overview and concepts and apply them.

• Understand the functions and roles of project managers, sponsors and team members in addressing project risk.

• Learn to create risk response plans to minimize threats and leverage opportunities.

• Identify proactive risk triggers indicative of pending risk event occurrence.

• Develop skills to identify key threats and often overlooked opportunities.

• Learn techniques to obtain and properly analyze risk data.

• Identify risk outcomes across occupations, including human resources, technical, finance, procurement, legal and more.

Notes

Recommendations

Accrediting Associations

• Project Management Institute (PMI) 12.0 PDU

Applies Towards the Following Certificates

• Project Management Essentials : Project Management Essentials