Strategic Risk Management

Price
$795.00

Duration
1 Day

Delivery Methods
Virtual Instructor Led
Private Group

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Course Overview

Project risks left unidentified and unmanaged, can derail organizational performance. Project managers and project participants need to be proficient at identifying and managing risks on their projects. This course is designed to teach you hands-on approaches to identifying and managing risks.

Note: This course has been approved by PMI for 8 PDUs.

Course Objectives

Describe risks using a three part statement

Understand how risk attitudes affect your project

Create useful tools to track risk

Communicate risk information to stakeholders

Develop a risk management plan

Create a meaningful risk matrix

Use operational definitions to reduce bias

Track risk occurrence and variances

Calculate project contingencies

Who Should Attend?

This course is designed for project managers and/or project participants seeking a deeper understanding of proven risk management techniques.

United Training is committed to working as a partner with our clients. Choose United Training and take advantage of the following benefits.

Robust Public Enrollment Schedule. Enjoy access to hundreds of Guaranteed to Run dates across a diverse catalog of course titles.
Private Group Training. Let our world-class instructors come to you to deliver training at your place of business or we can present to your team online using our Virtual Instructor-Led Training platform.
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Corporate Tech Pass: Our Corporate Tech Pass includes unlimited attendance for a single person, in the following Virtual Instructor Led course types: Microsoft Office, Microsoft Technical, CompTIA, Project Management, SharePoint, ITIL, Certified Ethical Hacker, Certified Hacking Forensics Investigator, Java, Professional Development Courses and more. The full list of eligible course titles can be found at https://unitedtraining.com/eligible.

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Course Prerequisites

There are no prerequisites for this course.

Agenda

1 - Introduction

Risk management concepts
Benefits of strategic risk management
Integrating risk management within the project management life cycle
Taking a leadership role in risk management
Definitions of stakeholder risk tolerances and attitudes
Developing a risk management plan
Defining risk categories
Defining probability and impact
Developing a risk matrix
Communicating risk information
Critical success factors
Risk Identification
Identifying types of project risks
Critical success factors
Who should be involved in risk identification?
Tools & techniques for identifying risks
Writing an accurate risk statement
Developing a useful risk register
CASE STUDY EXERCISE

2 - Risk Analysis

Qualitative risk analysis defined
Critical success factors
Risk probability and impact assessment
Risk urgency assessment
Using the risk matrix
Quantitative risk analysis defined
Knowing when to quantify
Risk impact calculation
Expected monetary value - determining the risk reserves
Decision trees
Monte Carlo simulation & probability distributions
CASE STUDY EXERCISE

3 - Risk Response Planning

Response Planning
Critical success factors
Risk response strategies
Developing the risk response plan
Tools & techniques for risk responses
Planning for Residual and Secondary Risks
Response planning documentation
CASE STUDY EXERCISE

4 - Controlling Risk

Purpose and objective of risk monitoring and control
Life cycle of a Risk
Critical success factors
Using contracts as a risk management tool
Tracking risks using the risk register
Implementing risk response plans
CASE STUDY EXERCISE

5 - Risk Closure and Communication

Purpose and objective of risk closure and communication
Critical success factors
Communicating risk status
Creating a central repository of risk information - the Corporate Knowledge Base