Introduction to Project Risk Management

Course overview

Duration: 2 day (13 hours)

Our Introduction to Project Risk Management course addresses risk management throughout the project lifecycle. This course is designed for project staff, including project leaders, sponsors, project team members, support staff and functional staff involved in project activity. The workshop is especially suited to teams working on bids, feasibility and project start up.

The workshop covers the need and benefits arising from a structured project risk management approach, the process and supporting methods for identifying analysing and responding to risks, human behavioural factors affecting risk management performance, and organisational interfaces and governance requirements.

Objectives 

By the end of the course you will be able to:

• Describe success factors and benefits arising from effective risk management
• Explain human behaviour factors affecting risk management
• Establish the project context and conduct an initial risk assessment
• Define an appropriate strategy and produce a risk management plan
• Define risk identification strategies and apply appropriate identification methods
• Identify and record important risk information including ownership
• Establish risk probability and impact levels; produce probability impact charts and severity time charts
• Establish exposure levels and contingency requirements
• Explain the principles of quantitative analysis
• Define and evaluate response options
• Implement effective risk management process control

Content

Principles of risk management

• Terminology
• Purpose
• Success factors
• Benefits and overall process
• Human factors that impact on risk management

Initiate

• Analyse and determine context factors relevant to risk management
• Develop a robust risk management strategy for the life of the project
• How to conduct an initial risk assessment and define an outline strategy

Identification  

• Development of a risk identification strategy
• Appropriate methods and their strengths and weaknesse
• Determine an appropriate strategy and identify risks in a given case study

Animating text

• Slide titles
• Bullet points
• Applying animation to Slide Master

Assessment

• Methods commonly used for assessing and prioritising risks
• Evaluating exposure and contingency requirement
• Demonstration of quantitative methods and exercises to assess risks and contingency levels

Planning and implementing responses

• Appropriate methods for responding to risks
• Defining implementation and control plans
• Assigning ownership
• Defining appropriate plans
• Conducting net benefits analysis and examining effectiveness

Manage process

• Organisational interfaces and specific requirements to ensure appropriate controls
• Improvements and compliance with governance requirements

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