Risk Management

Core Project Management Courses

You will learn to:

  • Implement a practical, eight-step process to manage project risk
  • Identify threats and opportunities and determine their relative value to your project
  • Control multiple risks using concise strategies
  • Overcome psychological barriers to risk in stakeholders and team members
  • Make risk and opportunity integral components of your next project plan

Course Synopsis


Projects involve many risks such as cost, schedule and resources. For example, you could have a delay in the schedule causing your project to be delayed by two weeks, and a resource that wasn’t available when you started the project is now available at a lower cost. As a project manager you need to be aware of any and all risks that could affect your project. In this Risk Management course, you’ll work through the proactive approach to threat and opportunity—based on a clear understanding of the powerful nature of both qualitative and quantitative approaches to risk management. Risk Management examines threat and opportunity from both a top-down and bottom-up perspective using Strategy Execution’s proven eight-step risk management process. Using effective tools, including Strategy Execution’s highly regarded risk assessment model, you’ll learn how to evaluate and respond to risk at the project and task levels. By applying these tools you will be able to identify, quantify, control and respond to risk in the context of the project life cycle through a risk management plan. This plan will enable you to monitor and control risks throughout the execution of the project by identifying new risks, reassessing existing risks and monitoring risk triggers. You’ll end the course with new practices to apply in your environment and new insights on the implications and advantages of applying risk management well.

Course Topics

Foundations of Risk

  • Definition and characteristics of “risk”
  • Elements and factors of risk
  • Types of risk
  • Components of risk management
  • Risk factors specific to IT projects

Planning for Risk Management and Identifying Risks

  • Risk management planning
  • Risk identification
  • Idea generation tools and techniques

Analysis Fundamentals

  • Probability and impact
  • Presenting risk
  • Probability analysis

Analysing and Prioritising Risk

  • Analysing risks and impact
  • Establishing and evaluating profitability
  • Risk-based financial tools and techniques
  • Expected-value analysis
  • Decision trees
  • Probability analysis
  • Risks vs. opportunities
  • Prioritising risks

Planning Responses to Risk

  • Risk response strategies for threats (avoid, transfer, mitigate and accept)
  • Risk response strategies for opportunities (accept, enhance, share, exploit)
  • Establishing reserves

Execution, Evaluation and Update

  • Risk response monitoring and controlling
  • Execute risk strategies
  • Contingency plans and workarounds
  • Risk evaluation
  • Reassessing risk
  • Risk documentation

Closeout

  • Closing out the risk process
  • Expectations of the project [risk] manager

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Open enrolment course information


Professional Development Units (PDUs): 22.5


Technical Project Management (PDUs): 22.50

Leadership (PDUs): 0.00

Strategic & Business Management (PDUs): 0.00

Duration: 3 days

Course Dates (click on a date to register) :


Expression of Interest
No dates for this course are currently scheduled.
Please contact us at +61 2 8999 9162 or email infoau@strategyex.com for more information or to register your interest.

This course is available in eTraining format. If you choose to take up this course in eTraining format, there is a 42-days window to complete the course.
To register for this course click here. To find out more information about eTraining, click here.
This course is available as an in-house corporate training. To find out more about corporate training for your organisation, contact us.

PMBOK® Guide knowledge areas: