Project Risk Management Training

About this course

Every project, irrespective of its size or complexity, contains risk. How this risk is assessed and managed is crucial to project delivery and may ultimately determine the success or failure of the project.

Our practical 1-day workshop provides the essential skills, techniques and concepts to assist the successful management of project risk, ensuring that subsequent business returns are maximised.

Participants will learn to apply a practical, process-oriented approach to managing risk, built within a realistic and structured framework.

The workshop content draws upon research and the extensive experience of PM-Partners group’s involvement in projects as well as information from the Project Management Body Of Knowledge (PMBOK® Guide), Australian Standard 4360 and other commercially available methodologies.

Workshop Objective

To enhance participants’ knowledge of the key processes, concepts and strategies that can be used when managing risk in project environments.

Who this course is for 

 This workshop is designed for:

  • Project Managers who have not received formal training in Project Risk Management
  • Individuals who are about to lead activity on a project
  • Project Managers wishing to refresh knowledge, skill and application in Risk Management 

How this course is delivered

All workshops may be conducted onsite or at our premises, with experienced facilitators providing group and/or individual instruction. Training is provided through hands-on learning, relevant exercises and the provision of a participant handbook containing training materials, tools, templates and checklists, ready for use on your next project. Our participants are also entitled to complimentary telephone consultation/advice within 60 days of workshop completion.

Assessment / Assignments

Assessment of competence is established by observation of contribution and participation during case study exercises and group discussion.

Follow-up assignments are not part of this workshop offering, but may be designed and conducted upon request.

Options & Customisation

Optional training modules can be added to this workshop:

  • Additional day covering more advanced aspects of project management.
  • Additional 1 day overview of Microsoft Project; a powerful tool for helping you to plan and control your projects.
  • Other options available upon request

This workshop can be cost effectively customised to your business environment using a project scenario from your workplace. 

Workshop Content Summary

 Introduction to Risk Management

  • What is Project Risk and Project Risk Management?
  • Why do Projects Fail?
  • Where Does Risk Occur Within a Project?

Project Management Principles

  • The Principle of ‘Triple Constraint’ and Associated Trade-Offs
  • The Essential Project Management Philosophy

The Risk Management Process

  • The PMBOK® Guide and what it says about Risk Management
  • The Five Processes of Project Risk Management

Identifying Project Risks

  • Sources of Project Risk and Risk Categorisation
  • Designing and Conducting a Risk Identification / Management Workshop
  • Identifying Project Risks and Issues
  • Tools and Techniques for Identifying Risks

Assessing Project Risks

  • Qualifying and Quantifying Risk
  • Assessing and Prioritising Risk

Developing Risk Strategy and Response

  • Risk Response Planning
  • Categories of Risk Strategy and Response
  • Developing/Building the Risk Management Plan/Register

Monitoring and Controlling Risk

  • Tracking the Risk Management Plan/Register
  • Revisiting the ‘Triangle of Balance’ and the Element of Change
  • Risk Management Strategy in Review

 

 

Outcomes & Certification Eligibility

 Successful completion of this workshop will enable participants to:

  • Clearly understand the Risk Management discipline and process
  • Identify sources of risk
  • Quantify risks
  • Build risk response strategies
  • Manage, monitor & control risks during the lifecycle of the project
  • Use an established Risk Management Plan template to analyse and manage project risk

Facilitators of this workshop will use a case study delivery approach to provide participants with a ‘hands-on’, multi-faceted and challenging learning experience. 

Course Prerequisites

Generic Project Management knowledge and experience.

Participants will, ideally, have successfully completed a Project Management Fundamentals workshop.

Pre-Course Work

In 200 words or less, describe your current approach to Project Risk Management. Please provide a very high level overview of the critical success factors that contribute to your planned delivery. 

Course Dates

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