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Risk Management for Projects, Programs and Operations
Level: Intermediate
Rating:
4.80/5 Based on 107 Reviews
In this Project Risk Management training course, you will gain the skills to identify, measure, and analyse risks in projects of all sizes and scopes. Learn to ensure the success of your projects from beginning to end by quantifying and creating a project risk management plan.
Understanding risk management in project management is a key skill required of all project managers. Attend this course and learn to leverage a proven qualitative risk-analysis process to guide your risk management decisions, and determine risk mitigations and time and cost contingencies.
Key Features of this Training:
- After-course instructor coaching benefit
- Learning Tree end-of-course exam included
- After-course computing sandbox included
You Will Learn How To:
- Manage risk to deliver initiatives that meet stakeholder needs
- Apply scalable templates for your initiative with Risk Management Plans, Risk Registers, and Risk Assessment Matrixes
- Leverage a proven qualitative risk-analysis process to guide your risk management decisions
Certifications/Credits:
Choose the Training Solution That Best Fits Your Organisations Needs
LIVE, INSTRUCTOR-LED
In Class & Live, Online Training
- 4-day instructor-led training course
- One-on-one after-course instructor coaching
- After-course computing sandbox
TRAINING AT YOUR SITE
Team Training
- Bring this or any training to your organisation
- Full - scale program development
- Delivered when, where, and how you want it
- Blended learning models
- Tailored content
- Expert team coaching
Customize Your Team Training Experience
CONTACT USSave More on Training with Learning Tree Training Vouchers!
Our flexible, easy-to-redeem training vouchers are available to any employee within your organisation. For details, please call 0800 282 353 or chat live.
In Class & Live, Online Training
Note: This course runs for 4 Days
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5 - 8 May 2:00 PM - 9:30 PM BST Herndon, VA / Online (AnyWare) Reserve Your Seat
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8 - 11 Sep 2:00 PM - 9:30 PM BST New York / Online (AnyWare) Reserve Your Seat
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27 - 30 Oct 1:00 PM - 8:30 PM GMT Herndon, VA / Online (AnyWare) Reserve Your Seat
Guaranteed to Run
When you see the "Guaranteed to Run" icon next to a course event, you can rest assured that your course event — date, time, location — will run. Guaranteed.Project Risk Management Course Information
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Recommended experience
- Project management experience at the level of:
- Course 296, Project Management: Skills for Success, or
- Course 340, Project Management for Software Development
- Project management experience at the level of:
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Certification Information
- This course is eligible for 15 AXELOS My PRINCE2 CPD points. Learn more now — PRINCE2 CPD Information ›
Project Risk Management Course Outline
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Overview of Risk Management
- Recognising risks in initiatives
- Using risk management best practises, tools and techniques to achieve project success
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Designing Critical Platforms for Success
Creating a Risk Management Plan (RMP)
- Analysing contents of a model RMP
- Applying a standard template to create your RMP
Identifying initiative risk
- Common sources of initiative risk
- Utilising checklists
- Creating Ishikawa diagrams to analyse cause and effect
- Assessing high-level risks to the organisation
Developing a Risk Register
- Analysing contents of a model Risk Register
- Applying a proven template to create your Risk Register
- Communicating risks to stakeholders
- Documenting risks for future assessment
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Improving Initiative Performance through Qualitative Analysis
Analysing risks through qualitative measures
- Performing probability and impact analyses
- Applying the probability and impact matrix
- Advanced applications of qualitative analysis
Prioritising analysis results
- Ranking project and operations risks
- Differentiating between acceptable and unacceptable risks
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Analysing Risks Using Quantitative Methods
Quantifying effects of risk events on projects and operations
- Determining probability of cost and time objectives
- Calculating contingency reserves
- Identifying trends in quantitative analysis
- Ranking risks by actuarial cost
Tools for analysis
- Expected Monetary Value (EMV)
- Three-point estimates
- Probability distributions
- Delphi Technique
- Simulation
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Risk Response Planning
Implementing risk response strategies
- Accept
- Avoid
- Transfer
- Mitigate
- Exploit
- Share
- Enhance
- Quantifying residual risks and secondary responses
Creating contingency plans
- Determining the worst-case scenario
- Recalculating confidence levels
- Finalising risk budget
- Applying a seven-step process to risk response planning
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Making Decisions under Uncertainty
Psychological factors in decision-making
- Practical applications of Prospect Theory
- Recognising bias with Utility Theory
Tools to enhance objectivity
- Maximising returns through the use of payoff tables
- Dealing with unknown risks using workarounds
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Monitoring and Controlling Risk
Identifying emerging risks
- Matching identified initiative risk with controls including Risk Audit, Variance Reports and Reserve Analysis
- Anticipating risk events through risk triggers
- Measuring risk using earned value analysis (EVA)
Ensuring effective change control
- Developing a reliable change request process
- Recommending corrective action
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Leveraging Project and Operations Experience
- Compiling lessons learned in a risk database
- Ensuring continual process improvement
Team Training
Project Risk Management Training FAQs
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What is risk management in project management?
Project risk is defined by PMI as, "an uncertain event or condition that, if it occurs, has a positive or negative effect on a project's objectives."
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Will I earn PDUs from the PMI for this Risk Management training course?
Yes, you will learn 23 PDUs after you complete this course.
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Can I learn risk management online?
Yes! We know your busy work schedule may prevent you from getting to one of our classrooms which is why we offer convenient online training to meet your needs wherever you want. This course is available in class and live online.
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