Project Risk Management And Compliance

Project risk management is the process that project managers use to manage potential risks that may affect a project in any way, both positively and negatively.

The goal is to minimize the impact of these risks. Unlike a regular problem that may arise, risks are incidents that may occur suddenly, sometimes entirely unexpected.

Project managers do not always know which risks the project is exposed to, when they occur, and why. Due to this high degree of uncertainty, project risk management requires a serious and in-depth approach. Understanding risk management in project management is a key skill required of all project managers.

In this project risk management training course, you will learn how to identify, measure and analyse risks in projects of all sizes and scopes, and how to ensure the success of your projects from beginning to the end by quantifying and creating a project risk management plan.

The aim of this Project Risk Management & Compliance training course is to enable the delegates to plan, manage, and control project risks.

It is an introduction to project risk management that enables a team to identify, classify and manage risk systematically for the duration of a project, taking full account of corporate aims in order to control the probability and mitigate the impact of an adverse risk event.

Objectives

At the end of the Project Risk Management & Compliance training course, you will be able to :

• Get an overview of the Risk Management Process

• Learn to identify risks that affect project quality, time & schedule, cost and scope

• Learn how to rank risks based on the amount of exposure to the company

• Apply useful techniques to identify, analyze, mitigate and monitor risks in the project life cycle

• Develop the skill necessary to quantify risks

• Learn how to create an effective risk monitoring plan and risk management strategies.

• Use a practical, six-step process to manage project risk

• Develop a risk budget based on expected monetary value (EMV)

• Examine both the threats and opportunities facing their projects from both a top-down and bottom-up perspective using a proven six-step risk management process.

Who Should Attend

Project Risk Management & Compliance training course , is ideal for : 

•  Individuals such as Project Management Professionals who want to develop and refine their project risk management skills

• Professionals, no matter what your industry background are (i.e. engineering, information technology or business), this training course will cover both the fundamental principles and modern techniques of project risk management

Outlines

Day 1

Risk Management Framework and Planning

• Key Definitions

• The PMBOK® Six Risk Management Processes

• Purpose & Benefits of Risk

• Responsibilities in Project Risk Management

• Integrating Risk Management into the Project Management Process

• Risk Management Planning

• Risk Planning Process

Day 2

Risk Identification Processes

• Project Context & Stakeholders

• Risk Identification Inputs

• Risk Identification Tools & Techniques

• Risk Identification Outputs

Day 3

Risk Assessment Process

• Project Estimating Techniques

• Schedule Diagramming - Critical Path Method (CPM)

• Project Evaluation & Review Technique (PERT)

• Qualitative Risk Analysis

• Quantitative Risk Analysis

Day 4

Risk Response Plan Development

• Risk Prioritisation

• Risk Response Strategy Guidelines

• Response Strategies for Threats & Opportunities

• Response Planning & Analysis

• Alternative Responses

• Response Validation

• Reserves - Contingency & Management

Day 5

Risk Response Control

• Resource Management

• Risk Control Guidelines

• Risk Control Inputs

• Risk Control Tools & Techniques

• Risk Control Outputs

• Risk Reporting & Documenting

• Course Summation & Work Session Review