Project Risk Management Training Courses -

Project Risk Management

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Why Attend

The aim of this course is to enable participants to plan, manage and control project risks. By taking this course, participants will learn to develop project risk management plans and identify project risks related to a project’s triple constraints which are: scope, schedule and resources. They will learn to qualify and quantify project risks and develop appropriate risk responses, and will design and calculate key performance indicators for monitoring and controlling project risks.

Course Methodology

The course uses a mix of interactive techniques, such as brief presentations by the consultant and the participants and group exercises. The course also includes calculations and analysis of real case studies related to project risk management.

Course Objectives

By the end of the course, participants will be able to:

Plan risk management and manage the risk register
Identify project risks using different techniques
Perform qualitative risk analysis to determine the overall project risk score
Perform quantitative risk analysis by utilizing techniques such as Monte Carlo simulation and decision tree analysis
Plan strategies for negative and positive risks
Review and control project risks through reassessments and audits

Target Audience

This course has been designed for project risk managers, risk owners, project managers, members of the project office, project sponsors, functional managers, senior management and individuals interested in project risk management. Meirc is assigned as a Registered Educational Provider (REP) with the Project Management Institute (PMI®). This course is worth 12 Professional Development Units (PDUs).

Target Competencies

planning risks
identifying risks
assessing risks
evaluating responses
monitoring risks
reviewing risks

Note

This course includes hands-on training on Monte Carlo simulation using Excel. Laptops will be made available by Meirc.
Project risk-related templates will be distributed during the course.

Associations

Project Management Institute (PMI)®: Gulf institute is designated as a Registered Educational Provider (R.E.P.) with the Project Management Institute (PMI)®. As a result, Gulf institute is authorized to issue Category Three Professional Development Units (PDU) that can be used for the authorization to take the Project Management Professional (PMP)® certification exam and for maintaining the PMP credentials.

PMI and PMP are registered mark of the Project Management Institute, Inc.

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2019 - Location & Date

5 Days Course

No Schedules!
Please Contact Us if you have any queries..

Schedule for Me

2020 - Location & Date

5 Days Course

No Schedules!
Please Contact Us if you have any queries..

Schedule for Me

Fees

Per participant - 2020

USD 4,800

Fees + VAT as applicable

Tax Registration Number : 100239834300003

(including coffee breaks and a buffet lunch daily)

Discount Plans & Cancellations Policy

Meirc is assigned as a Registered Educational Provider (R.E.P.) with the Project Management Institute (PMI®).
This course is worth 30 PDUs.

Course Outline

Introduction to project risk management
- Definitions of risk and risk management
- Level of risks in projects
- Pure and business risks
- Benefits of project risk management
- Project risk planning processes
- Risk propensities
Planning Risk Management
- Stakeholder risk appetite
- Risk Utility
- Risk management plan elements
- Risk impact and probability scales
- Defining risk probability and impact matrix
Identifying project risks
- Creativity techniques for data gathering
  - Brainstorming
  - Delphi technique
- SWOT analysis
- Work breakdown structure (WBS)
- Risk register
- Risk report
Performing Qualitative risk analysis
- Risk probability and impact assessment
- Risk ranking within the project
- Hierarchical charts
- Risk categorization
- Risk urgency assessment
- Project risk score
Performing Quantitative Risk Analysis
- Interviewing and three-point estimate
- Probability distributions
- Monte Carlo simulation
- Critical chain method
- Sensitivity analysis
- Expected Monetary Value (EMV)
- Decision trees
Developing risk response strategies
- Negative risk response strategies (threats)
- Positive risk response strategies (opportunities)
- Contingency planning strategy
- Risk management timeline
- Fallback plan
- Secondary and residual risks
Implementing responses and monitoring risks
- Implementing response plans
- Status meetings and work arounds
- Variance analysis
- Earned value management
- Risk Assessment and audit

Project Management

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