Course Description
This course is designed for project managers who want to proactively reduce the probability of project failure. In this course, you will learn to use proven approaches and techniques specific to risk management. You will learn to plan and analyze projects so as to minimize risk in a formal environment. You will identify, analyze, and address uncertainty throughout the project lifecycle and incorporate lessons learned and industry best practices related to risk management. You will apply PMI risk management processes in a practical way to eliminate, mitigate, and minimize threats while maximizing and optimizing opportunities.
Students pursuing a university-recognized and/or accredited certificate in Canada or continuing education units in the US must attend at least 90% of class time, participate in class exercises and section-knowledge checks, and score at least 70% on an end-of-class, multiple-choice assessment.
PMI is a registered mark of the Project Management Institute, Inc.
Assess overall project riskiness
Manage uncertainty in terms of both opportunities and threats
Role of a risk management plan
Risk within an execution strategy
Conduct qualitative risk assessments in order to rank risks
Conduct quantitative risk assessments in order to adequately budget for uncertainty
Develop risk response plans for significant risks
Monitor and control uncertainty during execution
Ensure success by understanding the role of a risk management plan and lessons learned
Agenda
1. Risk Management Foundations
Definition of a plan
Definition of risk and risk management
Risk management and project success
Project management life cycle
2. Strategic Risk Reduction
Project success factors
Stakeholder analysis
Balancing constraints within a plan
Assessing project riskiness
Importance of formal planning
3. Execution Risk Reduction
Risk management plan
Risk identification techniques
Qualitative risk analysis
Quantitative risk analysis
Risk response planning
4. Monitoring and Controlling Risk
Protecting the plan
Change controls
Responding to risks
5. Value of Lessons Learned
Capturing and employing lessons learned
Current methods of managing uncertainty based on lessons learned
Hands-On Activities:
Determine sources of project risk by category
Assess overall project risk
Identify and categorize risk
Perform qualitative risk analysis
Perform quantitative risk analysis
Plan risk responses
Involve stakeholders
Substitution & Cancellation Policy:
You may cancel or reschedule up to 21 days prior to the start date of the class at no penalty. For any cancellation or reschedule requests within 21 days, the full course tuition is still due and not eligible for refund. Any paid tuition will be credited towards a future class and must be used within 12 months.
*Partner delivered courses may be subject to different cancellation terms