Risk Management for Projects, Programs and Operations

Level: Intermediate
Rating: 4.8/5 4.84/5 Based on 122 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:

PMI 23 PDU

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In Class & Live, Online Training

  • 4-day instructor-led training course
  • One-on-one after-course instructor coaching
  • After-course computing sandbox
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Standard £2095

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In Class & Live, Online Training

Note: This course runs for 4 Days

  • 12 - 15 Nov 2:00 PM - 9:30 PM GMT Herndon, VA / Online (AnyWare) Herndon, VA / Online (AnyWare) Reserve Your Seat

  • 14 - 17 Jan 2:00 PM - 9:30 PM GMT Alexandria, VA / Online (AnyWare) Alexandria, VA / Online (AnyWare) Reserve Your Seat

  • 5 - 8 May 2:00 PM - 9:30 PM BST Herndon, VA / Online (AnyWare) Herndon, VA / Online (AnyWare) Reserve Your Seat

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Project Risk Management Course Information

  • Recommended experience

    • Project management experience at the level of:
      • Course 296, Project Management: Skills for Success, or
      • Course 340, Project Management for Software Development
  • Certification Information

Project Risk Management Course Outline

  • Overview of Risk Management

    • Recognising risks in initiatives
    • Using risk management best practises, tools and techniques to achieve project success
  • 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
  • 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
  • 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
  • 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
  • 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
  • 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
  • Leveraging Project and Operations Experience

    • Compiling lessons learned in a risk database
    • Ensuring continual process improvement

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Project Risk Management Training FAQs

  • 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."

  • Will I earn PDUs from the PMI for this Risk Management training course?

    Yes, you will learn 23 PDUs after you complete this course.

  • 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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Herndon, VA / Online (AnyWare)
Alexandria, VA / Online (AnyWare)
Herndon, VA / Online (AnyWare)
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