Risk Management for Projects
This course will focus on one of the ten knowledge areas of project management, Risk Management.
Project Risk Management focuses on dealing with the inevitable negative events. These can occur on any project. Participants will learn determining methods to decrease the probability of those events or decrease the impact they will have on the project, or both. Participants will also learn about dealing with the potential opportunities determining methods to either increase the probability of those events or increase the impact they will have on the project, or both.
Foundation of Risk Management
- Project life cycle and risk management
- Identifying risks and the risk management process
- PMBOK Guide® and risk management
- Planning to manage risks and risk tolerance
- Analyzing the causes and effects of risks
The first day will set the stage for effectively managing risk by pointing out best practices from PMI®, building on the foundation by providing analytical tools for risk management planning, and developing methods to clearly and definitively define project risks.
Qualitative and Quantitative Risk Analysis
- Preforming qualitative risk analysis and project stakeholders
- Probability and impact analysis matrix including standard deviation curves
- Developing a decision tree
- Monte Carlo analysis and “poor man’s” Monte Carlo analysis
- Planning risk responses and monitoring risks during execution
The focus on this day will be very technical and analytical for both qualitative and quantitative risk analysis. The second day will investigate both subjective and objective ways to analyze risks, as well as the tools and techniques to plan and monitor risks.
Advanced project managers with at least one year of experience in managing projects.
Fundamentals of Project Management course