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Name of Course: Risk Management

Course Number: 2169-JTC210

Description:
This course is a case study based, hands-on approach to risk management. Using a standard risk management process and armed with tools and templates, participants will be able to assess the overall risk of a project and analyze stakeholder tolerance. In a case study based environment, attendees will create a comprehensive and structured list of risks and be able to analyze them using both objective and subjective analysis approaches. A realistic response plan will be created and ways to monitor and control risk will be explored. The course covers tools for all of the risk management processes identified by PMI® and provides a complete set of templates and examples.

Target Audience:
Project managers and project participants who need risk management skills.

Pre-Requisities:
A basic project management course (such as Managing Projects and Leading People), or equivalent knowledge.

Duration: Two days

PDUs: 16 PDUs

Objectives:

  • Review the risk management processes identified by PMI®
  • Use a set of tools and templates designed to support these processes
  • Build a risk management plan
  • Assess stakeholder tolerance to risk
  • Perform techniques to identify and analyze risks
  • Evaluate risk response alternatives and know when to select each alternative
  • Monitor the impact of risk plans and take corrective actions

Instructional Methods:
Lecture, group discussions, individual practices and case studies teach and reinforce risk management topics.

Topics Covered:

Introduction

  • Review course objectives and agenda
  • Definition of terms
  • Review of risk processes

Risk Management

  • Determine approaches to risk
  • Perform stakeholder analysis
  • Integrate the risk plan with the project plan
  • Create a risk management plan

Risk Identification

  • Review inputs and outputs
  • Review tools for gathering risks
  • Categories of risk
  • Ensuring we get the root cause not the symptom
  • Create a Risk List

Risk Filtering

  • What is filtering?
  • Filtering techniques
  • Create a filtered risk listing

Risk Analysis

  • Analyzing impact
  • Estimation techniques
  • Analyzing probability
  • Basic probability theory
  • Practical probability analysis for IT projects
  • Expected monetary value
  • Decision trees in the risk context
  • Other prioritization approaches
  • Analyze and prioritize risks

Responding to Risk

  • Types of responses
  • Avoiding
  • Transferring
  • Mitigating
  • Accepting
  • How to find the right response
  • Responding to the case study risks
  • Solving one risk creates another

Monitoring Risk

  • Looking for triggers
  • Periodic assessment
  • Status reporting on risk
  • Evaluate the impact of responses
  • Find triggers in the case study

Documenting Risk

  • Forms and templates
  • Best practices
  • Why document?

Summary

  • Lessons learned
  • How to implement in real life
  • Evaluations