Increasing Performance through Project Risk Management

Formats: 8-hour virtual course  |  2-day instructor-led onsite

Proactively identifying and controlling risk greatly increases the accuracy of the project’s scope, schedule, and budget, as well as reduces the amount of time the team spends putting out fires. This 2-day course, based on PMI®’s PMBOK® Guide, Sixth Edition, focuses on improving the project manager’s risk management expertise, from initial planning through project closure. Participants apply all course principles to a real-world case study of their choosing.

Learning Objectives »

  • Overview risk analysis and management concepts.
  • Identify project risk management terms and common practices as expressed by PMBOK.
  • Apply risk and project management processes to a project.
  • Perform qualitative and quantitative risk analysis on a project.
  • Mitigate risk through planning, execution and close out phases.

Course Agenda »

Risk Management Overview

  1. Risk Management Benefit and Uses
  2. Project Risk Management
  3. Project Management Life Cycle
  4. Case Study Selection

Initiating Process Group

  1. Initiating Process Group Overview
  2. Develop Project Charter
  3. Identify Stakeholders
  4. Project Selection Criteria
  5. ROI Analysis
  6. ROI Methods
  7. Risk Complexity Index
  8. Project Selection

Planning Process Group

  1. Scope Risks
  2. Schedule Risks
  3. Resource Risks
  4. Plan Risk Management
  5. Identify Risks
  6. Delphi Technique
  7. Subject Matter Expert Input
  8. Brainstorming
  9. Fishbone Diagrams
  10. Process Analysis
  11. Five Whys
  12. Influence Diagrams
  13. Risk Breakdown Structure (RBS)
  14. Risk Register
  15. Perform Qualitative Risk Analysis
  16. Probability and Impact Assessment
  17. Probability and Impact Chart
  18. Perform Quantitative Risk Analysis
  19. Three-point estimates
  20. PERT
  21. Triangular Distributions
  22. Outlier Considerations
  23. Geometric Mean
  24. Normal Distributions Methods
  25. Tornado Diagrams
  26. Expected Monetary Value (EMV)
  27. Monte Carlo
  28. Plan Risk Responses
  29. Risk Response Strategies
  30. Overall Project Risk
  31. Checklists

Executing Process Group

  1. Executing Process Group Overview
  2. Implement Risk Responses
  3. Update Risk Report

Monitoring and Controlling Process Group

  1. Monitoring and Controlling Process Group Overview
  2. Control Risks
  3. Project Monitoring
  4. Longer Projects

Executing Process Group

  1. Executing Process Group Overview
  2. Implement Risk Responses
  3. Update Risk Report

Closing Process Group

  1. Closing Process Group Overview
  2. Close Project or Phase
  3. Risk Activities During Closing Process Group
  4. Post-Project Risk Assessment