Project Risk, Uncertainty & Decision Analysis

Project management professionals are increasingly required to make business decisions under pressure in complex, uncertain and highly dynamic situations.

This Coventry Academy training course will look at a number of advanced concepts in Project Management and Risk Management that will enable the participants to deal with the ever-changing business environment and to apply a proven systematic approach to the project management process to facilitate effective and efficient achievement of business objectives.

It will include tips, techniques and strategies to assist this process, including the establishment of a project plan, a risk management strategy and a stakeholder management strategy for a project.

What Are The Goals?

This Coventry Academy training course aims to enable participants to achieve the following critical objectives:

• Obtain a Fundamental Understanding of Project Management Concepts

• Prepare and Execute an Effective Project Plan

• Identify and Analyse Project Risk

• Apply Effective Strategies to Address Typical Project Issues

Who Is This Training Course For?

This Coventry Academy training course is suitable to a wide range of professionals but will greatly benefit:

• Professionals Who Make or Support Project Decisions and Would Like to Be Able to Develop and Justify Effective Solutions  

• Project Management Professionals and Supporting Personnel

• Internal Auditors and Management Accountants

Course Outline

Day One: Introduction to Project Management and Risk Management

• The nature of projects and project management

• Project/program and portfolio management

• Project organization, project life cycle and Stage Gate approach

• Project Initiation

• Scope definition and Work Breakdown Structure (WBS)

Day Two: Project Schedule and Cost Management

• Defining and sequencing project activities

• Schedule Development

• Resource management

• Estimating costs and determining budgets

• The earned value management (EVM) concept

Day Three: Risk Identification and Planning

• Decisions under certainty, risk and uncertainty

• Risk management overview

• Contemporary concepts and standards in risk management

• Risk management planning process

• Risk identification and assessment

• Qualitative risk analysis

Day Four: Risk Response Strategies and Risk Control

• Schedule-Risk and Cost-Risk Analysis

• Risk Response Strategies

• Risk Response Implementation

• Risk monitoring and follow-up

• Risk Reporting

Day Five: Project Execution, Monitoring & Closure

• Managing stakeholder expectations

• Managing project communications

• Managing the project team

• Effective project closure

• Lesson learned

• Post-project evaluation and Benefit Realisation

The Certificate

• Coventry Academy Certificate of Attendance will be provided to delegates who attend and complete the course