Risk Management for Project Managers

1 800 U Learn (853 276)

DDLS - Risk Management for Project Managers

Length

2 days

Price

$1980.00 inc GST

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Overview

This course is also part of our 5-day Advanced Project Management and Risk course which usually runs in parallel, so you can choose to undertake these 2 days or the full 5 days.

Risk Management is a critical discipline that helps people better manage uncertainty and threats, and Risk Management for Project Managers explores the topic as it applies to projects and programs of a technical nature. Comprehensive in scope and designed for all stakeholders who want to proactively mitigate the effects of risk, this course covers all the fundamental aspects related to risk management, including planning, identification, assessment, quantification, analysis, mitigation and tracking & reporting. A wide spectrum of risk management tools and techniques will be explored, along with the “softer” disciplines of psychology and human interaction.

Key Topics

Detailed Info

Risk Management Overview
Risk Management Planning
Risk Identification
Qualitative Risk Analysis
Quantitative Risk Analysis
Monetary Value Analysis
Risk Response Planning
Risk Monitoring and Control

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Skills Gained

Key Topics

Target Audience

Prerequisites

Industry Association Recognition

Skills Gained

Discover how to:

Understand how risk can impact a program
Understand all of the steps of a comprehensive risk management approach
Identify various tools and techniques to employ for risk management
Be able to determine which risk mitigation approach to choose using the concept of risk reduction leverage
Discuss and explore ideas, concerns and issues related to risk management

Key Topics

Risk Management Overview

Proactive risk management and its key elements
Definitions, including the different faces of risk: opportunity and threat
Three key risk components involved in the nature of risk
Risk categories including the use of the Risk Breakdown Structure (RBS)
Risks versus Issues
Goals of risk management
Nature of risk and why risk identification is difficult
How risk can impact your project
Life cycle truths that drive early risk management efforts
Psychology of risk

Risk Management Planning

Key inputs for planning risk management
How to build the plan
Essential content

Risk Identification

Stakeholder risk tolerances and thresholds
SWOT Analysis
Internal/External risks
Multiple approaches to uncovering risks on the project
Effective risk statement documentation
Importance of the risk register

Qualitative Risk Analysis

How to perform a qualitative risk analysis
How to perform a risk data quality assessment
How to determine overall project risks
How to prioritise those risks that must be managed

Quantitative Risk Analysis

Calculating expected loss
Calculating expected opportunity
Use of probability distributions
Sensitivity analysis
Decision Trees

Monetary Value Analysis

Modelling and Simulation

Risk Response Planning

Techniques for dealing with risk
Techniques for dealing with opportunities
Cost analysis of responses using Risk Reduction Leverage
Risk Response Matrix
Tips and Advice on Risk Responses
Risk Triggers
Risk Owners: roles and responsibilities
Residual risk
Risk exit criteria
Contingencies and reserves in risk management

Risk Monitoring and Control

Tracking Fundamentals
Tools and Techniques
Dealing effectively with new risks
Risk Reporting
Tips on having a successful risk management effort

Target Audience

This workshop is designed for managers, engineers, and other individuals who are involved with projects and need to understand risk management and how to deal with it in a proactive manner. You might also be interested in attending our 5-day Advanced Project Management and Risk course.

We can also deliver and customise this training course for larger groups – saving your organisation time, money and resources. For more information, please contact us on 1800 853 276.

Prerequisites

Successful completion of DDLS courses:

Industry Association Recognition

This course is aligned to A Guide to the Project Management Body of Knowledge (PMBOK^® Guide) and is endorsed by the Project Management Institute (PMI) and the Australian Institute of Project Management (AIPM).

Project Management Institute (PMI)^®

Contact Hours: 14 hours
Professional Development Units (PDUs): 14 PDUs

Australian Institute of Project Management (AIPM)

Continual Professional Development (CPD) points: 10 points

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The supply of this course by DDLS is governed by the booking terms and conditions. Please read the terms and conditions carefully before enrolling in this course, as enrolment in the course is conditional on acceptance of these terms and conditions.

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