Overview:
The Challenge
Every project has issues. Issues are threats to a project that have materialized, and they can drain a project team of needed energy and time. Experience has shown us that proactive management of project risk can reduce the incidence and severity of issues by up to 90%. Every project has opportunities. When found, opportunities can lead us to lower cost, savings in time, higher quality and a happier customer. The advantages to proactive management of risk are enormous, but how can we do this in a way that actually works?
The Solution
This advanced project management course moves beyond the standard project management curriculum by explaining how to manage both negative and positive risk: threat and opportunity. You will be led through a series of exercises, each of which contributes to establishment of an effective Risk Management Practice. Among other things, you will discover that projects are filled with opportunities, if you know where to look for them. Learning Objectives include:
- An understanding of the origins of risk
- An appreciation of risk's dual nature: negative and positive
- How risk management enhances Business Value
- Hands on experience in development of a Risk Management Plan
- Experience identifying and characterizing project risks
- Knowledge of how to calculate risk contingency reserve
- Experience in development of a risk register
- An understanding of the two kinds of project opportunities
- Experience using the Seven-Step approach to finding and leveraging project opportunities
Audience:
This advanced PM course can benefit Project Managers, Managers of Project Mangers, Functional Managers and Executives with project responsibility, Project Management Office staff
Prerequisites:
This course assumes familiarity with basic project management concepts as well as some experience in the planning and execution of projects. There is no requirement that attendees complete any specific project management training in advance of the program, but completion of Effective Project Management or Project Management for Technical Professionals is helpful
Course duration:
3 days
Course Includes:
- PMP® certified instruction
- Student Guide
- Participation Certificate
- 18 PDUs
Course Outline:
Introduction
- Origin of project risk
- The standard model of risk
- Stakeholders in risk management
Planning to Manage Risk
- Managing Risk
- The Risk Management Plan
Negative Risk: Threat Identification
- Threat identification process
- Tools and techniques
- The Risk Register
Threat Analysis
- The formal threat statement
- Characterizing threats
- Tools and Techniques
- Risk Triggers
- Threat prioritization: Using numeric scores
Threat Response Planning
- Responding to threats
- Secondary risk and residual risk
- Budgeting for threat management
Positive Risk: Opportunity Identification
- Two kinds of opportunity
- Why opportunities are missed
- An enhanced model of risk
- What we can do to find more opportunities
- Seven Step Approach to opportunity management
Risk Monitoring and Control
- Watching the risk landscape
- Issues Management: Activating Risk Management Plans
- The Issues Log
- Updating the Risk Register
- Lessons Learned
Wrap-Up Discussion
Learning Approach:
- A highly experienced instructor will use interactive lecture format, numerous hands-on exercises, team activities, group discussions and other techniques to drive home the essential points of this material
- We will build on your prior experience in this topic, while providing you with a structure and vocabulary to use in future projects.
- If you have modest project management knowledge, you will find that the clarity of the material and direct presentation style of the instructor will make the subject matter easy to understand.
- You will receive a Student Guide which will help you follow the material, take notes and retain what you learned so that you can apply it on your job.
- Training includes instruction in the use of advanced Project Management templates.
Why should I take this course?:
- Controlling Project Risk presents a practical approach to uncovering and leveraging opportunities, a topic virtually untouched in standard project management training. Take home a whole new set of tools and techniques.
- Take this advanced PM training and learn what you can do to proactively manage threats and make full use of the positive side of the risk spectrum.
- Even an experienced project manager can obtain insights that will help solve common and persistent problems.
- The exercises in this project course will give you the hands on experience you need to put best practice and new tools to immediate use.
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