This course focuses on one of the nine knowledge areas of project management, Risk Management. Risk Management focuses on dealing with the inevitable negative events which could occur on the project and how to decrease the probability of those events or decrease the impact they will have on the project and also, dealing with the potential opportunities which could occur on the project and how to increase the probability of those events or increase the impact they will have on the project. In order for the risks of the project to be properly defined it is necessary to interface with the key stakeholders of the project. As with the other aspects of project planning, the risk plan should by no means be developed "in a vacuum." Different techniques from one-on-one interviews to team workshops should be utilized. This course is designed to give you a working knowledge of risk management for projects. You will be able to use these concepts the very next day on your projects thus giving you the edge over your competition. This course follows the best practices for Project Risk Management as outlined in the Guide to the Project Management Body of Knowledge (PMBOK Guide®) from the Project Management Institute (PMI®)

Audience:

Project managers and team leaders

Prerequisites

Some experience in project management is recommended but not required.

Course duration:

2 days

Course outline:

Why Project Risk Management?

• Use of Risk Management
• Timing of Risk Management
• Can You Eliminate All Risks?
• Levels of Uncertainty
• Movement of Risk
• Project Life Cycle & Project Risk
• Proactive Risk Management
• Risk Management Scenario
• Reactive vs. Proactive
• Proactive Risk Management
• Communications with Project Stakeholders
• Project Stakeholders Definition
• Risk Management & Project Stakeholders
• Benefits & Uses of Risk Data
• The Project Risk Management Process
• Risk Management and the Five Process Groups
• Knowledge Areas vs. Process Groups
• The Risk Management Process
• Risk Management Six Elements