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Risk Management
Risk Management
Course No.: PMAC86
Duration: 1 Day
Credits: 7 PDUs

This one-day course presents a practical approach for assessing and managing project risks. It provides an understanding of “common risk drivers” and “easy-to-apply” techniques through case studies, exercises, and discussions. The course awards professional development units. The course is aligned to PMI’s Practice Standard for Project Risk Management and A Guide to the Project Management Body of Knowledge (PMBOK® Guide 5th Edition).

Who Should Attend

  • Project managers
  • Functional managers
  • Team leaders
  • Business analysts, Systems analysts, Consultants, Engineers
  • Those newly practicing or not yet formally qualified in risk management

What You Will Learn

  • Comprehend importance of a comprehensive and balanced approach to risk management, and its link with project success
  • Ability to identify and avoid risk management pitfalls and their negative impacts on the project
  • Learn risk management processes, tools and techniques to identify and analyze risks; develop response plans; and control risks in order to minimize threats and maximize opportunities
Course Outline
  • A brief on course structure
  • Course outcomes
Risk Management Fundamentals
  • Importance of risk management
  • Defining a risk
  • Sources of risk
  • Risk categories/types: Environmental, Business, Technical, Organizational, Project Management
  • Risk attitudes and tolerances
  • Risks vs. Current or Past Issues
  • Constraints and assumptions
  • Planning for risk management
Group Exercise: Participants develop a risk management plan and decide how risk management activities would be conducted on a project. They are provided input data and a case study.

Risk identification
  • Risk identification techniques
  • Risk characteristics
  • Root cause analysis
  • Risk triggers
  • Potential responses
Team Exercise: Teams play “Speedboat Game” to identify threats and opportunities (risks) and fill up risk register for a sample project.

Risk Analysis
  • Qualitative analysis methods
  • Assessing probability and impact
  • Using P & I Matrix
  • Risk prioritization and urgency assessments
  • Watchlist Risks
Group Exercise: Participants qualify the risks they identified in the previous exercise and update risk register.
  • Quantitative analysis methods
  • Overview of Monte Carlo, Sensitivity Analysis, and Decision Tree Analysis
  • Risk quantification
  • Risk Analysis
Risk Response Planning
  • Strategies for Threats
  • Strategies for opportunities
  • Residual risks
  • Secondary risks
  • Contingency plans
  • Contingent response strategy
  • Project Management Plan Revision
Group Exercise: Participants develop risk response plans for risks they have identified for a sample project. They discuss and finalize Risk Response Plans and fill up risk register.

  • Participants present their risk registers as filled by them during risk identification, analysis and response planning exercises.
Risk Monitoring and Controlling
  • Risk reassessment
  • Risk audits
  • Risk management communication
  • Issue management
  • Managing and controlling rework, overruns, and changes
  • Being in-control of the project 
Additional info
About PMaC Classroom Training
We train more than 1,000 professionals annually through our Training Centers, and in private in-company sessions. Our 100+ classroom courses are developed using PMaC’s unique industry insight and delivered by PMaC Instructors, experts who are distinguished in their fields. 

Further training
Students of this course can apply for our other learning program at a special graduate price, including business skill courses.

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  “After 2 years in IBM, I aspired to grow. My seniors suggested CAPM®. I didn’t have prior project management experience and was worried whether I would understand the topics and how tough the exam would be. Thanks to PMAC, the whole thing was made interesting and achievable.”  
  Monica, CAPM, IBM  
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