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Course Code

MQ818

Duration

1 Day

This one-day workshop provides the participant with both concepts and practice in all six processes of Project Risk Management as defined by the Project Management Institute (PMI):
  • Planning for Risk Management
  • Identifying Risks
  • Performing Qualitative Risk Analysis
  • Performing Quantitative Risk Analysis
  • Planning Risk Responses
  • Monitoring and Controlling Risks
Emphasis is on engaging each participant in hands-on exercises and thought-provoking discussion. The overall workshop objective is that each participant will leave the classroom at the completion of the workshop with skills he or she can immediately apply to their own projects. All topics are led by a PMP-certified instructor, supported with a PowerPoint presentation, and employ a case study exercise that encourages practical application. Participant guides are provided for each attendee that include modules, exercises, and risk management templates.
This course is designed for project managers.
Objectives and Ground rules

The Importance of Risk Management
Small Group Exercise: “Risk is Like a House of Cards”
What is Risk?
What is Risk Management?

Planning Risk Management
Planning a Risk Management Strategy
Crafting a Risk Management Plan
Review of a Risk Management Plan Example
Review a Risk Register Example
Small Group Exercise: “What Should Risk Management Look Like Here?”
Discussion and Action Plans for Real Life

Identify Risks
Techniques to Identify Risks
Using Pre-defined Risk Categories
Exercise: Identify Risk Categories and Sources
Writing a Good Quality Risk Statement
Identifying Risk Triggers
Exercise: Starting Your Risk Register (includes: identify risk events using an Ishikawa Diagram, write risk statements, and identify triggers for each risk event)

Perform Qualitative Risk Analysis
What is Qualitative Risk Analysis?
How Is It Done? Probability, Impact, and Scoring
Creating a Risk Heat Map
Exercise: Perform Qualitative Analysis (includes probability and impact scoring and creating a Risk Heat Map)

Perform Quantitative Risk Analysis
What is Quantitative Risk Analysis?
Using a Tree Diagram to Evaluate Probability and Cost/Schedule Reserves
Exercise: Create a Tree Diagram

Plan Risk Responses
Responses to Enhance Opportunities
Responses to Reduce Threats
Assigning Risk Owners
Determining and Validating Risk Reserves
Exercise: Create Risk Responses and Risk Response Budgets

Monitor and Control Risks
Why and How to Monitor and Control Risks Effectively
Risks versus Issues
When a Risk Becomes Reality
Exercise: Document and Communicate a Realized Risk

Workshop Closeout
Final Questions and Objectives Review
Evaluations
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