PROJECT RISK MANAGEMENT

Two-day course from 8:30 a.m. to 4:30 p.m.
Instructor: Roger Graves

Cost:  $1,295 + GST
(includes training material and CD, certificate of participation, lunch, breakfast and refreshments)

OBJECTIVES

This workshop will train managers in the use of project risk management tools and techniques. A working knowledge of project management fundamentals is a prerequisite for this workshop. As an added bonus, WC provides a discount on the purchase of RIAS (Risk Information and Assessment System) software.

DATES

• dates to be determined

ABOUT THE WORKSHOP

Much of the work carried out within an organization is project-based. Teams are put together to create a unique product or service, usually with well-defined schedules and/or budgets. The risks which any project must face include failure to meet expectations, delivering late, or overrunning the budget. The science of minimizing the probability of project shortfalls or overruns is known as project risk management.

In this course, you will learn to identify project risk areas, to analyze their level of impact and likelihood with regard to the project objectives, to analyze and compare the effectiveness of different responses to risks, and to set up monitoring and control systems to manage project risks on a day-to-day basis throughout implementation/execution.

As with any other element of project management, software tools can make more effective use of the project manager’s time. RIAS (Risk Information and Assessment System) software, which implements many of the data capture, analysis and reporting techniques covered in the course, will be reviewed and discussed.

• Any project managers responsible for all or part of a significant project in real property, IT, major acquisitions, and similar areas;
• Any project managers responsible for all or part of a Major Crown Project;
• Any project managers responsible for one or more projects with severe cost, schedule or other resource constraints; and
• Any managers who want to improve their knowledge and understanding of how projects behave in the real world.

COURSE OUTLINE

Introductions, Objectives, Agenda 

Introduction

• The Nature of Projects
• The Nature of Risks
• Risk Management Overview

Risk Identification

• Risk Context
• Universal Risks
• Risk Identification Tools and Techniques

Qualitative Risk Analysis

• Data Gathering
• Data Analysis (Impact/Likelihood)
• The Risk Matrix

Quantitative Risk Analysis

• Budget Schedule Uncertainties
• Project Uncertainty Analysis
• Monte Carlo Analysis
• Combining Specific and Non-Specific Risk

Risk Response Planning

• Risk Response Planning Principles
• Decision Analysis

The Risk Management Process

• Risk Management Process Plans
• Running the Project
• Risk Management Implementation
• Managing People

Evaluation and Wrap-up