PMI CTT's Events

Overview:

Risk is an important reality in business because we live in a world of uncertainty. This course provides a comprehensive overview of risk and strategies on how to manage it. It acknowledges that not all risk is bad, that in fact with risks we also encounter opportunities. The  course is structured around the risk management process defined in A Guide to the Project Management Body of Knowledge (PMBOK), published by the Project Management Institute. The course provides a systematic approach of identifying risks, analyzing the risks for potential impact to the organization or project, creating strategies to mitigate risks, applying risk response measures when risk events occur, and establishing procedures for monitoring, controlling, and reporting on risks. Both concepts and practical tools are provided for students to manage risk in their own organizations and projects.

What You'll Learn:

Participants gain a comprehensive under- standing of the nature of risk and uncertainty and strategies to manage it on projects, in business, and in life in general. Learn to step through the five-phased risk management process using a structured approach to dealing

with risks that could impact operations or projects. Learn key strategies, tools, and techniques employed by experts to manage and control risk and uncertainty.

Training Date:

Friday Dec 9 - Saturday Dec 10, 2022

Time:

8:30 am – 4:30 pm EST

Agenda / Schedule - Time & Activity Management:

1. Plan Risk Management

· Definitions of risk and risk management concepts

· Stakeholder risk tolerance

· Creating a process for identifying and managing risks

· Creating a risk management plan

2. Identifying Risks

· Data gathering of project information from project documentation and conducting stakeholder interviews

· Analysis of project data to identify project risks

· Conducting assumptions analysis and SWOT analysis

· Creating a risk register

3. Perform Qualitative Risk Analysis

· Creating a risk breakdown structure (RBS) for risk categorization

· Analyzing all project risks for probability and impact

· Creating a probability and impact matrix

· Creating a risk prioritization

4. Perform Quantitative Risk Analysis

· Analyzing risks using quantitative risk analysis techniques

· Decision tree analysis

· Simulation

· Updating the risk register

5. Plan Risk Responses

· Strategies for responding to threats

· Strategies for responding to opportunities

· Creating risk responses for every project risk

· Identifying monetary resources to support the planned risk responses

· Documenting risk responses and updating he risk register

6. Implementing Risk Responses

· Executing the planned risk responses as risks occur

7. Monitoring Risks

· Monitoring the effectiveness of risk responses

· Identifying new risk

· Closing out risks which have dropped off

· Managing the contingency reserve

· Revising the risk response plan as required

· Updating the risk register

· Risk reporting

What is included in the fee:

This hands-on workshop includes instruction and student exercises that reinforce the learning of the strategies, tools and techniques presented in the workshop. Every participant receives:

· 15 hours of interactive training

· Online  quizzes

· Course manual with all instructional content

· Case study

· Participant exercises

· Instructor access outside course hours

· 15 PDU

· Certificate of completion