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Risk Management Training for Projects, Programs, and Operations

Course 286

  • Duration: 4 days
  • Labs: Yes
  • Language: English
  • 23 PMI PDUs
  • Level: Intermediate
Get This Course £2,095
  • 4-day instructor-led training course

  • After-course coaching available

  • After-course computing sandbox
#286
  • Guaranteed to Run - you can rest assured that the class will not be cancelled.
    Aug 23 - 26 2:00 PM - 9:30 PM BST
    AnyWare
  • Oct 18 - 21 2:00 PM - 9:30 PM BST
    Herndon, VA or AnyWare
  • Feb 7 - 10 2:00 PM - 9:30 PM GMT
    New York or AnyWare

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In this risk management training course, you will gain the skills to identify, measure, and analyse project risk at scale. You will also learn to ensure the success of your projects from beginning to end by:

  • Quantifying and creating a project risk management plan
  • Using the qualitative risk-analysis process to guide your risk management decisions
  • Determining risk mitigations and time and cost contingencies

Risk Management Training Delivery Methods

  • In-Person

  • Online

Risk Management Training Benefits

  • 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

  • Test your knowledge in the included end-of-course exam

  • Leverage continued support with after-course one-on-one instructor coaching and computing sandbox

Risk Management Training Outline

In this module, you will learn how to:

  • Recognise risks in initiatives
  • Use risk management best practices, tools, and techniques to achieve project success

In this module, you will learn how to:

  • Create a risk management plan (RMP) using a standard template
  • Analyse the contents of a model RMP
  • Identify initiative risk and its common sources using checklists
  • Create Ishikawa diagrammes to analyse risk cause and effect
  • Develop a risk register using a standard template
  • Analyse the contents of a model risk register
  • Document and communicate risks to stakeholders

In this module, you will learn how to:

  • Analyse risks through qualitative measures, such as probability and impact analysis
  • Apply the probability and impact matrix
  • Prioritise analysis results by ranking project and operations risks
  • Differentiate between acceptable and unacceptable risks

 

In this module, you will learn how to:

  • Use common quantitative analysis tools, including Expected Monetary Value (EMV), three-point estimates, the Delphi technique, and more
  • Quantify effects of risk events on projects and operations
  • Determine the probability of cost and time objectives
  • Calculate contingency reserves
  • Identify trends in quantitative analysis

In this module, you will learn how to implement the seven-step process to risk response planning:  

  • Accept 
  • Avoid 
  • Transfer 
  • Mitigate 
  • Exploit 
  • Share 
  • Enhance 

You will also learn how to:  

  • Create contingency plans 
  • Determine the worst-case scenario  
  • Recalculate confidence levels 
  • Finalise risk budge

In this module, you will learn how to: 

  • Assess the psychological factors that affect decision-making using the prospect theory 
  • Recognise bias with utility theory 
  • Maximise returns by using payoff tables  
  • Deal with unknown risks using workarounds

In this module, you will learn how to:

  • Identify emerging risks
  • Match identified initiative risk with controls such as risk audits, variance reports, and reserve analysis
  • Anticipate risk events through risk triggers
  • Measure risk using earned value analysis (EVA)
  • Ensure effective change control by developing a reliable change request process

In this module, you will: 

  • Compile lessons learned in a risk database 
  • Ensure continual process improvement 

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Risk Management Training FAQs

To succeed in this course, you should have project management experience at the level of the following courses:

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."

Certification candidates and existing credential holders are responsible for reporting all Continuing Certification Requirements Program (CCR) activities to PMI. To report the completion of a Learning Tree course, you can use the Online PDU Resources System.

  1. Log into your PMI Account: https://www.pmi.org
  2. Locate the claim code associated with your course
  3. On your profile dashboard, click "Report PDUs"
  4. Click "I have a claim code" and enter your course's claim code
  5. Submit your entry

PDU Information for This Course:

  • Total PDUs: 23
  • Technical PDUs: 13
  • Leadership PDUs: 0
  • Strategic & Business PDUs: 10
  • PMI Claim Code: 1154Z0ZETN

Yes, this course is eligible for 15 CPDs.

In this course, you prepare you to perform and lead the risk management efforts in a wide range of initiatives, including projects, programs, portfolios and ongoing operations. This broad base of knowledge and skills is effective because of the continuing interaction of all of these elements of organisations. You learn to identify, analyse and prioritise risks and then to craft risk response strategies in order to deliver initiatives that meet your stakeholder expectations. You learn how to apply customisable, industry-robust templates to craft tailored Risk Management Plans and Risk Registers.

This course is valuable for anyone who is involved in or those who may become involved in project, program, portfolio or operations risk analysis and risk management. This course is beneficial to all stakeholders in a wide variety of organisations; large, mid-sized and small. Anyone who has an interest in controlling adverse impacts to a current initiative or ongoing operation or in finding new opportunities to pursue will also benefit from this course. Typical participants include managers who must justify a decision to proceed, modify, or cancel a project or program, portfolio managers, project leaders and project team members, line managers, analysts and system designers.

Many projects, programs and ongoing operations fail to achieve their expected outcomes, and to meet their anticipated schedule and budget performance because the stakeholders did not have a thorough understanding of situations that could cause unanticipated changes. In this course you learn to identify future events that may impede your initiative so that you can identify corrective actions before disaster strikes. Once you determine your alternatives, you can steer the initiative to successful completion. In fact, perceived risks often turn out to be hidden opportunities when managed correctly. This is one of the major benefits of risk management that is often overlooked by those who don't practice it.

You learn tools and techniques that assist with risk identification, qualitative and quantitative analysis of risks, and planning the responses to these risks. The interactive group exercises teach you to apply the project management processes during a case study project that builds throughout the course. You learn to develop and use a Risk Register to control your initiatives.

No! The math that is taught in the class is presented so that anyone will be comfortable with it. We take you step-by-step through the examples so that you can return to your project and immediately apply the knowledge.