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Training
Course Information
Course Name
Risk Management
Duration
5 Days
Overview
Audience Profile
Prerequisities
At Course Completion
Course Outline
Overview
The workshop content focuses on how to risk-plan projects within the client’s contexts. Emphasis is on identifying potential project problems and issues, rank the risks, risk responses, study impact of risks and using computerised Monte Carlo Simulation – sensitivity analysis and tornado charting), evaluate risk response feasibilities, and track/control risk response implementations.
Participants are encouraged to bring their projects to the session. Project Risk Management checklists, templates, and Palisade @Risk for MS Project are used to model a participant’s project. Ample case studies, examples and interactive individual/group exercises are provided.
*This is the rate for group classes, charged per session.
Overview
Overview
The workshop content focuses on how to risk-plan projects within the client’s contexts. Emphasis is on identifying potential project problems and issues, rank the risks, risk responses, study impact of risks and using computerised Monte Carlo Simulation – sensitivity analysis and tornado charting), evaluate risk response feasibilities, and track/control risk response implementations.
Participants are encouraged to bring their projects to the session. Project Risk Management checklists, templates, and Palisade @Risk for MS Project are used to model a participant’s project. Ample case studies, examples and interactive individual/group exercises are provided.
*This is the rate for group classes, charged per session.
Audience Profile
Audience Profile
Prerequisities
At Course Completion
At Course Completion
At the end of the course, participants will be able to:
- Instil the habit of anticipation with regard to identifying possible project problems, uncertainties,
and contingencies. - Use techniques like Brainstorming, Affinity Technique, Cause-Effect, Why-Why, and Monte Carlo
Computer Simulation. - Produce a Risk Management Register which itemises and assesses the risks, risk triggers, risk
responses, and response implementations toward the risks. - Have understanding of risk-managing projects, the various risk priority-ranking techniques, including the use of project management software (Microsoft Project and @Risk) to visualize and apply the findings immediately in their work.
- Have a ready set of working risk management templates.
Course Outline
Course Outline
Module 1: Introduction to Risk Management
- Principles of project uncertainties.
- Definition and characteristics of “risk”.
- Variation of risk within the project management lifecycle.
- Elements and factors of risk.
- Types of risk – external, cost, schedule, technology, operation risks, etc.
- Components of risk management.
Module 2: Risk Management Processes
- Using the Risk Management Mindmap.
- Risk Management Planning.
- The Project Risk Management Plan (using a risk management plan template).
- The Risk Register (using a risk register template).
- Risk Identification.
- Activity: Work Breakdown Structure.
- Activity: Risk identification by Brainstorming.
- Activity: Categorizing identified risks using Affinity Diagramming.
- Risk classification into types of risk.
- Qualitative Risk Analysis.
- Activity: Probability-Impact Matrix.
- Activity: Comparative Risk Ranking Matrix.
- Quantitative Risk Analysis.
- Activity: Risk Expected Value a.k.a. Risk Exposure.
- Activity: Ranking risks.
- Activity: Determining risk reserve.
- Activity: Program Evaluation and Review (PERT) Technique.
- Activity: Monte Carlo Simulation and Sensitivity Analysis using @Risk software
- Risk Trigger (determining when the risk occurs).
- Monitoring high profile risks – risk watch list.
- Risk Response Planning
- Activity: Applying risk strategies –avoidance, mitigation, deflection, and acceptance.
- Establishing reserves.
- Risk response control.
- Execute risk strategies.
- Contingency plans and workarounds.
- Risk re-assessment.
