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Project Risk Management

This course is design with a practical approach to understand and apply project risk management. The course will be conducted with reference to a case-study, where the participants will be involved extensively in each of the Risk Management processes, namely Risk Identification, Qualitative & Quantitative Management, Risk Response Planning, Risk Budgeting, Risk Monitoring and Control. At the end of the course, the participants will be able to:

  • Understand Project Risk Management concepts and processes
  • Develop a Project Risk Management Plan
  • Applying good Risk identification and definition techniques
  • Understanding and applying Risk
  • Qualitative management
  • Understanding and applying Risk
  • Quantitative management
  • Applying tools and techniques for Risk
  • Prioritization
  • Understand and apply the different types of Risk Response Strategies
  • Learn how to develop Risk Budget
  • Understand ways to monitor, control and communicate risks throughout the project life cycle

Course Outline
Introduction to Risk Management

Definition of Project Risk and Risk Management
Elements of Risk
Different types of Risks
Risk Management processes
Risk management and Project Life Cycle

Risk Planning and Identification
Risk Planning Outputs: Framework
Risk Identification: Inputs, Tools and Techniques, Outputs
Risk statement: The do’s and don’ts

Qualitative and Quantitative Analysis
Risk analysis
Risk Impact analysis
Risk Prioritization

Risk Response Planning
Risk Response Strategies
Analyze and select the best strategies
Evaluate risk response impact
Document and communicate risk responses

Risk Budgeting
Different components in Risk Budgeting
Managing Risk Budget

Risk Execution
Execution of Risk Plan
Risk triggers
Monitoring and Control Risks
Risk reassessment and Updating Risk documents
Communicating Risks

Target Audience: Project Managers, Pre-Sales managers, Project Leaders, Bid Managers
Duration: 2 days.

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