Understanding risk management in project management is a key skill required of all project managers. In this project risk management training course you will learn how to identify, measure and analyse risks in projects of all sizes and scopes, and how to ensure the success of your projects from beginning to the end by quantifying and creating a project risk management plan. The aim of this course is to enable the delegates to plan, manage and control project risks. It is an introduction to project risk management that enables a team to identify, classify and manage risk systematically for the duration of a project, taking full account of corporate aims in order to control the probability and mitigate the impact of an adverse risk event.

Who Should Attend?

This course has been designed for project risk managers, risk owners, project managers, members of the project office, project sponsors, functional managers, senior management and individuals interested in project risk management.

Course Outcomes

Delegates will gain knowledge and skills to:

• Provide an overview of project risk management: why project risk management, the process involved and definitions of project risk
• Identify human aspects of risk management – risk attitude and heuristics
• Identify risk: describe risks using structured risk descriptions, identification techniques, risk register
• Manage the process: keep the process alive and improve risk management
• Manage risk to deliver initiatives that meet stakeholder needs
• Apply scalable templates for your initiative with risk management plans, risk registers, and risk assessment matrixes
• Leverage a proven qualitative risk-analysis process to guide your risk management decisions
• Use a practical, eight-step process to manage project risk
• Identify threats and opportunities and weigh their relative value in your project
• Control multiple risks using concise strategies 
• Overcome psychological barriers to risk in stakeholders and team members
• Make risk and opportunity integral components of your next project plan

Key Course Highlights

• Definition and characteristics of ‘risk’ 
• Fundamentals of Risk Management (FoRM) › Initiating project risk management - the planning and project specific impact scales
• Risk management planning and identification of risks
• Risk assessment - probability and impact, proximity, inherent vs current risk exposure
• Risk responses - risk responses to threats and opportunities, secondary risks, post response assessment
• Determining risk tolerances 
• Implementing responses and updating plans
• Risk response monitoring and control 
• Contingency plans and workarounds