Project Risk Analysis
Uncover secrets to effective risk management — an integral part of successful projects. Learn techniques that enable you to add to the probability of project success by following proven methodologies for project risk management. Discover different approaches to identify risks; methods and tools to assess and quantify risks and determine their impacts; risk prioritization and mitigation techniques; and approaches to monitor, control, and communicate risks throughout the project life cycle. Determine how best to prepare a project risk management plan.
Training details
Duration: 2 days
Course level: intermediate training
Price: Call or mail us for a quote
Learn how to
Prepare a risk management plan
Use risk concepts to foster better decisions
Incorporate expected value probability and distribution into your risk calculations
Estimate the impact of of risks on your projects
Prepare a Risk Response Plan
Monitor and Control project risks
Communicate risks effectively to all project stakeholders
Course content
1. Introduction and Overview of Risk Management
2. Risk Management Planning
3. Risk Identifications
4. Qualitative Risk Analysis
5. Quantitative Risk Analysis
6. Risk Response Planning
7. Risk Monitoring and Control
1. Introduction and Overview of Risk Management
Risk components
Scope of risk management
Risk management processes
Risk management objectives
Risk and the project life cycle
Benefits and costs of risk management
Risks and project decisions
2. Risk Management Planning
Risk management planning process
Determining stakeholder risk tolerances
Roles and responsibilities
Preparing a risk management plan
Optimizing project plan decisions
3. Risk Identification
Risk identification process
Using the work breakdown structure (WBS)
Categories in risk identification
Documentation reviews
Using checklists and flowcharts
Conducting interviews
Assumption and SWOT analysis
Cause-and-effect analyses
Documenting identified risks
4. Qualitative Risk Analysis
Qualitative risk analysis process
Risk probability and impact
Probability impact matrix
Prioritizing (ranking) risks
Using filtering and comparative risk ranking
5. Quantitative Risk Analysis
Quantitative risk analysis process
Sensitivity analysis
Expected monetary value
Schedule risk analysis
Monte Carlo simulation
6. Risk Response Planning
Risk response planning process
Assigning a risk owner
Calculate contingency
Risk response plan
7. Risk Monitoring and Control
Risk monitoring and control process
Dashboard and op light chart
Closing a risk
Document lessons learned