Project Risk Management Course

Is it right for me?

Project staff including project leaders, sponsors, project team members, support staff and functional staff involved in project activity. The workshop is especially suited to teams working on bids, feasibility and project start up.

What will I get out of it?

By the end of the course delegates will be able to:

• Describe success factors and benefits arising from effective risk management
• Explain human behaviour factors affecting risk management
• Establish the project context and conduct an initial risk assessment
• Define an appropriate strategy and produce a risk management plan
• Define risk identification strategies and apply appropriate identification methods
• Identify and record important risk information including ownership
• Establish risk probability and impact levels; produce probability impact charts and severity time charts
• Establish exposure levels and contingency requirements
• Explain the principles of quantitative analysis
• Define and evaluate response options
• Implement effective risk management process control

What does it cover?

A two-day workshop addressing risk management throughout the project lifecycle. It is largely based on the Project Risk Analysis and Management guide published by the Association for Project Management. It also provides a foundation for follow-up workshops leading to APM Risk level 1 and 2 qualifications.

The workshop covers the need and benefits arising from a structured project risk management approach, the process and supporting methods for identifying analysing and responding to risks, human behavioural factors affecting risk management performance, and organisational interfaces and governance requirements.

The format is interactive with significant practical content relevant to the group's needs and current situation. It includes interactive presentations, demonstrations and group exercises based on a realistic case study. The workshop covers the following topics:

• Principles - discusses the terminology, purpose, success factors, benefits and overall process. Also discusses human factors that impact on risk management.
• Initiate - shows how to analyse and determine context factors relevant to risk management, and develop a robust risk management strategy for the life of the project. Includes exercises to conduct an initial risk assessment and define an outline strategy.
• Identification - covers the development of a risk identification strategy, appropriate methods and their strengths and weaknesses. Includes exercises to determine an appropriate strategy and identify risks in a given case study.
• Assessment - shows methods commonly used for assessing and prioritising risks, evaluating exposure and contingency requirements. Includes a demonstration of quantitative methods and exercises to assess risks and contingency levels.
• Planning and Implementing Responses - discusses appropriate methods for responding to risks, defining implementation and control plans, and assigning ownership. Includes exercises to define appropriate plans, conduct net benefits analysis and examine effectiveness.
• Manage Process - discusses the organisational interfaces and specific requirements to ensure appropriate controls, improvements and compliance with governance requirements.