Learn how to take a proactive approach to threat and opportunity.
Project management is opportunity management. It is the ability to seize opportunities, minimise threats and achieve optimum results. Too often risk management is seen as reactive, or worse, unresponsive. Nothing could be further from the truth. During Risk Management, you will work through the proactive approach to threat and opportunity. This will be shaped by a clear understanding of the powerful nature of both qualitative and quantitative approaches to risk management.
This course examines threat and opportunity from both a top-down and bottom-up perspective using our proven eight-step risk management process which includes the PMI seven-step process. Using effective tools, including the highly regarded risk assessment model, you will learn how to evaluate and respond to risk at the project and task levels.
You’ll end the course with new practices to apply in your environment and new insights on the implications and advantages of applying risk management well.
What topics will be covered in the course?
- Introduction to Risk
- Definition and characteristics of "risk"
- Elements and factors of risk
- Event (future occurrence)
- Probability (uncertainty)
- Impact (amount at stake)
- Types of risk
- Components of risk management
- Response development
- Response control
- Risk Management Planning and Identifying Risks
- Risk management planning
- Risk Assessment Model
- Risk identification
- Idea generation tools and techniques
- Delphi Technique
- Analysis Fundamentals
- Probability and impact
- Presenting risk
- Probability analysis
- Analysing and Prioritising Risk
- Determining risk tolerances
- Analysing risks
- Establishing and evaluating profitability
- Risk-based financial tools and techniques
- Expected-value analysis
- Decision trees
- Prioritising risks
- Risk Response Planning
- Risk response strategies for opportunities and threats
- Risk acceptance
- Risk avoidance
- Risk mitigation
- Probability minimisation
- Impact minimisation
- Establishing reserves
- Execution, Evaluation and Update
- Risk Response control
- Execute risk strategies
- Contingency plans and work-arounds
- Risk evaluation
- Reassessing risk
- Risk documentation
What will I learn?
- Use a practical, eight-step process to manage project risk
- Identify threats and opportunities and weigh their relative value in your project
- Control multiple risks using limited strategies
- Overcome psychological barriers to risk in stakeholders and team members
- Make risk and opportunity integral components of your next project plan
Is this course for me?
This course is suitable for all Project Managers, Program Managers and team members who need to develop their knowledge of how to identify, manage and plan for risks, positive and negative. This is a key course for those looking to become PMP certified.
What is included in the price?
Lunch, snacks, and refreshments on all course days
Online tools and templates
Individual training consultation before and after the course
Does this course help me towards certification/accreditation?
At the end of the course you will get the chance to verify your level of knowledge in a test. You will receive a certificate upon successful participation. This course is also eligible if you aim to achieve an Associate’s or Master’s Certificate from George Washington University. Learn more.
Available as customised in-house training
Let us bring our classes to you! Our in-house training are ideal for groups of 10 or more people. We can provide Off-the-shelf training in the form of our classic courses, or we can provide bespoke training, tailored to your organisational goals and objectives.