Introduction to Project Risk Management

Course overview

Duration: 2 days (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 weaknesses
• Determine an appropriate strategy and identify risks in a given case study

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

Underscore Group delivers practical, instructor-led project management training that helps people plan, lead and deliver projects with confidence. Based in Sussex and supporting organisations across the UK, we focus on real-world tools and approaches that make project delivery clearer, more structured and more achievable for teams at all levels.

Every session is tailored to your organisation’s way of working, ensuring the methods and templates translate directly into day-to-day delivery. Our project management programmes are trusted by organisations across finance, aviation, healthcare, construction and professional services, helping teams in corporate environments improve planning discipline, strengthen stakeholder engagement and deliver successful outcomes more consistently.

• Trusted by leading UK organisations
• Expert trainers with real business experience
• Small-group sessions (6–8 people)
• Practical, hands-on learning approach
• Virtual & onsite delivery across the UK
• Six months of post-course support

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Public Training Programme

Explore our current selection of public courses, available as convenient and cost-effective virtual sessions.

Engage with expert instructors and a diverse peer group in an interactive, online learning environment.

Ideal for those valuing flexibility and affordability, our public courses are ideal where you only have small numbers requiring training and offer training from the comfort of your home or office.

Full Training Catalogue

We deliver a wide range of training across Leadership, Personal Development, Project Management, and IT applications. Many organisations choose us because they can source both technical and people-focused training from one trusted provider.

Courses can be tailored to your organisation’s needs, making it easier to upskill teams consistently across different areas. Whether you want to build management capability, strengthen project delivery, or boost everyday software skills, you’ll find relevant options in our catalogue.