Risk Management

Part 1: Risk Management Foundations

1. Definition of a plan
2. Definition of risk and risk management
3. Risk management and project success
4. Project management life cycle

Part 2: Strategic Risk Reduction

1. Project success factors
2. Stakeholder analysis
3. Balancing constraints within a plan
4. Assessing project riskiness
5. Importance of formal planning

Part 3: Execution Risk Reduction

1. Risk management plan
2. Risk identification techniques
3. Qualitative risk analysis
4. Quantitative risk analysis
5. Risk response planning

Part 4: Monitoring and Controlling Risk

1. Protecting the plan
2. Change controls
3. Responding to risks

Part 5: Value of Lessons Learned

1. Capturing and employing lessons learned
2. Current methods of managing uncertainty based on lessons learned

Hands-On Activities:

1. Determine sources of project risk by category
2. Assess overall project risk
3. Identify and categorize risk
4. Perform qualitative risk analysis
5. Perform quantitative risk analysis
6. Plan risk responses
7. Involve stakeholders

• Associate Project Managers
• Project Managers
• IT Project Managers
• Project Coordinators
• Project Analysts
• Project Leaders
• Senior Project Managers
• Team Leaders
• Product Managers
• Program Managers

• Assess overall project riskiness
• Manage uncertainty in terms of both opportunities and threats
• Role of a risk management plan
• Risk within an execution strategy
• Conduct qualitative risk assessments in order to rank risks
• Conduct quantitative risk assessments in order to adequately budget for uncertainty
• Develop risk response plans for significant risks
• Monitor and control uncertainty during execution
• Ensure success by understanding the role of a risk management plan and lessons learned