I/S Resource Group: Risk Management, Training, Project, Project Management, PMBOK, PMBOK Guide, Risk Management, Uncertainty, Uncertainty Continuum, Risk, Risk Assessment, Risk Management Process, Risk Management Timing, Plan Risk Management, Identify Risks, Risk Management Checklists, Evaluate the Risks, Qualitative Risk Assessment, Risk Probability and Impact, Quantify the Risks, Risk Cost Analysis, Plan Risk Responses, Avoidance, Transference, Mitigation, Acceptance, Evaluate Response Success, Risk Strategies, KnowRisk, KnowRisk®, Opportunity Management, Project Risk Management

Risk Management

Overview
(1/2 - 1 Day)

Today’s projects have more risk than ever before. Sometimes that risk results in a late project or over-budget project; other times it manifests itself in a perceived lack of quality in the project results. Still other times it results in total project failure.

This module describes a process of risk evaluation and management that identifies the greatest project risks. It covers assigning responsibilities for manage them, actions to avoid them, and contingency plans for the rest, accounting for them in the schedule. The module is consistent with the latest version of the Project Management Body of Knowledge, and uses our unique risk management tool, KnowRisk®.

The difference between the half-day and full-day version of this module is the amount of time spent on the risks of participants’ own current projects. As a prerequisite, all participants bring a list of the risks of a current project, and they use the material to assess and remedy those risks.

Learning Objectives

Understand the nature of project Risk; describe the purpose, benefits, timing and key roles and responsibilities in Risk Management.
Use brainstorming and Risk assessment checklists to identify areas of highest Risk, by individual Risk element.
Evaluate the impact of individual Risks realized, and the probability that the Risk will be realized. List the top Risks.
Quantify the cost impact of the top Risks if realized; summarize cumulative project cost of all significant Risks.
Brainstorm with the project team to identify Responses for highest-impact Risks. Assign responsibility for each Response. Reflect the Risk Responses in the project plan.
Track Risk Responses, and evaluate their effectiveness in mitigating Risks realized.
Apply the KnowRisk® checklist, sample Responses, evaluation grid and strategy identification processes to reduce Risk.
Improve Enterprise Risk Management by evaluating the process, risks realized (and those not) and responses at major milestones, and updating your risk knowledge base.

Audience

Those who are (or should be) involved in assessing and managing risk in today's projects:

Sponsors
Resource Managers
Project Office Staff
Project Managers
Customers
Team Leaders
Team Members

Modular Project Management is a registered trademark of Goff Associates, Inc., the ProjectExperts.
© 2000, 01, 02, 03, 04 ProjectExperts®