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MODES OF DELIVERY

Live Online Classroom

Collaborative, enriching virtual sessions, led by world class instructors at time slots to suit your convenience.

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Classroom

Our classroom training provides you the opportunity to interact with instructors and benefit from face-to-face instruction.

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DESCRIPTION

Not just small businesses and organizations, but even the world’s biggest enterprises are not risk averse and lose millions of dollars due to poor risk management. It is estimated that over 70% of global projects fail due to time delays and budget overrun, causing severe loss to the organization and the global economy. One of the main reasons for these failures is the lack of Risk Management knowledge and implementation.

Risk Management comes out as the key differentiator for successfully completing the projects on time and within budget. This course helps you not only to understand the tools and techniques of Project Risk Management but also how to apply them to develop a Project Risk Register for a sample case study under consideration. You will learn to tackle risks by identifying and analysing change and potential risk factors, and ways to circumvent them.

Objectives

By the end of this course, you will be able to

• Define risk and risk management
• Identify risks using various methods
• Assess the potential impact of risk factors
• Prioritize risks to determine the most important
• Develop effective risk response strategies
• Control risk during project execution using proven tools and techniques

Audience

Novices, beginners and even risk managers who want to reinforce their skills can benefit from this course.

Prerequisites

There are no prerequisites for attending this course. Any professional with a keen interest to learn project risk management with hands-on exercises can attend and benefit.

Content

• Introduction to projects and project risks
• Human aspect of Risk Management (Risk Attitude – Risk Taking, Risk Neutral, Risk Averse)
• Risk Management – A Proactive Approach for managing uncertainties
• Threats and Opportunities
• Known and Unknown Risks
• Business Risks and Pure Risks
• Understanding the sample project case study
• Preparing to develop a Risk Register
  • Identify Risks (Threats and Opportunities)
  • Risk Categories and Risk Breakdown Structure
  • Analyse and Assess Risks (Probability and Impact)
  • Qualitative Risk Analysis
  • Probability Impact Matrix
  • Quantitative Risk Analysis
  • Expected Monetary Value and Decision Tree Analysis
  • Developing Risk Response Strategies
  • Strategies for Threats
  • Strategies for Opportunities
  • Contingent Strategies
• Implement Risk Responses
• Monitor Risks