Strategic Risk Management


1 Day


Delivery Methods
Virtual Instructor Led
Private Group

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.

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    • Custom Training Solutions. Our subject matter experts can customize the class to specifically address the unique goals of your team.
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    Learning Credits: Learning Credits can be purchased well in advance of your training date to avoid having to commit to specific courses or dates. Learning Credits allow you to secure your training budget for an entire year while eliminating the administrative headache of paying for individual classes. They can also be redeemed for a full year from the date of purchase. If you have previously purchased a Learning Credit agreement with United Training, you may use a portion of your agreement to pay for this class.

    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

    If you have questions about Learning Credits or our Corporate Tech Pass, please contact your Account Manager.

    Course Prerequisites

    There are no prerequisites for this course.


    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

    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

    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

    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

    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

    Upcoming Class Dates and Times

    Dec 20
    8:30 AM - 6:00 PM
    ENROLL $795.00
    Jan 24
    8:30 AM - 6:00 PM
    ENROLL $795.00
    Feb 28
    8:30 AM - 6:00 PM
    ENROLL $795.00
    May 1
    8:30 AM - 6:00 PM
    ENROLL $795.00
    Jun 26
    8:30 AM - 6:00 PM
    ENROLL $795.00
    Aug 28
    8:30 AM - 6:00 PM
    ENROLL $795.00
    Oct 16
    8:30 AM - 6:00 PM
    ENROLL $795.00
    Dec 4
    8:30 AM - 6:00 PM
    ENROLL $795.00

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