Course content
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Why Attend
The overall aim of this course is to enable participants to plan, manage and control project risks. Moreover, participants will be able to develop a project risk management plan and identify project risks related to the project's triple constraints which are: scope, schedule and resources. The course also aims at assisting participants in qualifying and quantifying project risks and developing appropriate risk responses. In line with the above, participants will also 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:
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Develop project risk management plans
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Identify project scope risks
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Predict project schedule risks
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Examine project resource risks
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Apply quantitative and qualitative risk assessments
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Plan strategies for negative and positive risks
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Devise metrics to monitor and control project risks
Target Audience
Project risk managers, risk owners, project managers, members of project offices, project sponsors, functional managers, senior management and individuals interested in project risk management. This course is worth 30 PDUs.
Target Competencies
Planning risks
Identifying risks
Assessing risks
Evaluating responses
Monitoring risks
Reviewing risks
Course Outline
Planning risk management
Risk components
Project selection
Risk preferences
Project risk planning processes
Risk management plan elements
Identifying scope risks
Sources of scope risk
Scope change risks
Defining deliverables
Work breakdown structure (WBS)
Bottom-up approach
Identifying schedule risks
Sources of schedule risk
Activity definition
Estimating activity duration
Applying estimating techniques
Activity sequencing
Identifying resource risks
Sources of resource risk
Resource planning methods
Staff acquisition
Cost estimating and cost budgeting
Managing project risks
Qualifying and quantifying project risks
Quantitative and qualitative risk analysis
Risk probability
Risk impact
Qualitative risk assessment
Quantitative risk assessment
Risk assessment matrices
Quantifying risks using PERT analysis
Common continuous risk distributions
Expected monetary value (EMV) analysis
Decision tree analysis
Developing risk response strategies
Categories of risk
Risk management strategies
Risk response planning
Contingency planning
Risk registers
Monitoring and controlling project risks
Implementing response plans
Collecting project status
Metrics and trend analysis
Project reviews and risk reassessment
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