Advanced Risk Management Course
How to identify, analyze and respond to project risks, with quantitative analysis of schedule and cost risk.
Instructor
Philip Russell
- Description
- Curriculum
- Reviews
The course covers project risk management from start to finish. You learn to identify and assess risks, run a quantitative analysis of schedule and cost, and plan the responses, and you look at how risk management can become part of the way your organization runs projects.
Worked examples and exercises use realistic project data.
Who should attend
Project managers, risk managers, planners and cost engineers.
How it runs
The instructor teaches live on Zoom, so you can join from wherever you are.
Session 1: Risk management fundamentals
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1
Welcome and course mapMeet the group and see what each session will cover. -
2
What risk management isDefine risk and the core ideas of uncertainty, probability and impact.
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3
Principles of risk managementLearn the principles that make risk management work in practice.
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4
Risk across the organizationSee how risk is handled at enterprise, portfolio, program, project and operational levels.
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5
Build risk into project planningSet up a risk management framework and write a risk management plan.
Session 2: Identify and assess risks
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6
Techniques to identify risksUse a range of techniques to find risks early.
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7
The risk registerRecord risks well, assign owners and group them into categories.
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8
Qualitative risk analysisRank risks by probability, impact, timing and triggers.
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9
Exercise: Project Harmony HeightsIdentify, plot and score six risks for the course case study.
Session 3: Quantitative analysis
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10
Recap and quantitative methodsReview Sessions 1 and 2, then meet the main quantitative techniques.
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11
Expected monetary valueCalculate the expected monetary value (EMV) of single and multiple risk events and use it to make decisions.
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12
Monte Carlo simulationSet up, run and read a Monte Carlo simulation.
Session 4: Respond, monitor and embed
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13
Risk response strategiesChoose and resource the right response for each risk.
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14
Put responses into actionAssign owners, build responses into the schedule and budget, and plan contingencies.
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15
Emerging risks and software toolsSpot new kinds of risk and choose software that helps.
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16
Monitor, control and reportKeep risks under review and report them in a way each audience understands.
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17
Build a risk-aware cultureOvercome resistance and make risk management part of how the organization works.
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