Project Risk Management

Project Risk Management

Projects all have associated risks, of course. We can't eliminate them. But one risk you can eliminate is the risk that the project manager doesn't know how to manage risk.

 

One of the biggest challenges for a project manager is the identification of risks, its analysis and the devlopment of response strategies. This two day workshop covers the fundamentals of Project Risk Analysis and Management, providing project teams with a sound set of tools and techniques for evaluation of, and response to, the risks facing their project.

Every project has risks involved, all of which can affect the progress of the project against its plans. Frequently, these risks are not identified early in a project lifecycle, resulting in firefighting as predictable events occur unexpectedly. In other cases there is no managed response to risks which have been identified. Both these situations will result in unplanned spend for the business as it attempts to recover from the risk event occurring.

Attendance at this workshop will make Project Managers and teams more aware of their role in reducing risks, and will result in more certainty about budgets and timescales for the business.

Who's it for?

This workshop is designed for all staff involved in project work, particularly those who have roles requiring the identification and management of project risks.

Objectives and Outline

This workshop will help Project and Programme Managers, and their teams, identify, evaluate and plan risk responses, and to recognise the link between risks and the overall project cost and schedule baselines. The workshop will cover both qualitative and quantitative risk evaluation.

At the end of the workshop, delegates will:

  • Understand the components of risk, and how they can be evaluated
  • Understand the sources of project risk
  • Make objective predictions about the effect of quantified risks on future cost and schedule
  • Be able to run effective project risk workshops
  • Be able to report objectively to management on the risks and the project team's responses
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Tools and techniques covered will include

  • Risk Identification and sources of risk
  • Risk estimation
  • Prioritising risk
  • Risk Ownership
  • Risk Policy and Escalation
  • Risk effects on cost, schedule, quality and value
  • Risk Response Planning

 

Delivery

The workshop can be run using fictional case study material, or as though it were a genuine risk workshop for the project team, with practical exercises interspersed with lecture-led discussion about the tools and techniques involved.

 

 

 

 

 

 

 

 

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