Risk Management

3 Days Instructor-led

Avoid project catastrophe by developing expertise in risk management.

This course is designed for project managers who want to proactively reduce the probability of project failure. In this course, you will learn to use proven approaches and techniques specific to risk management. You will learn to plan and analyze projects so as to minimize risk in a formal environment. You will identify, analyze, and address uncertainty throughout the project lifecycle and incorporate lessons learned and industry best practices related to risk management. You will apply PMI risk management processes in a practical way to eliminate, mitigate, and minimize threats while maximizing and optimizing opportunities.

Students pursuing a university-recognized and/or accredited certificate in Canada or continuing education units in the US must attend at least 90% of class time, participate in class exercises and section-knowledge checks, and score at least 70% on an end-of-class, multiple-choice assessment.

PMI is a registered mark of the Project Management Institute, Inc.

Course Outline

Part 1: Risk Management Foundations

1. Definition of a plan
2. Definition of risk and risk management
3. Risk management and project success
4. Project management life cycle

Part 2: Strategic Risk Reduction

1. Project success factors
2. Stakeholder analysis
3. Balancing constraints within a plan
4. Assessing project riskiness
5. Importance of formal planning

Part 3: Execution Risk Reduction

1. Risk management plan
2. Risk identification techniques
3. Qualitative risk analysis
4. Quantitative risk analysis
5. Risk response planning

Part 4: Monitoring and Controlling Risk

1. Protecting the plan
2. Change controls
3. Responding to risks

Part 5: Value of Lessons Learned

1. Capturing and employing lessons learned
2. Current methods of managing uncertainty based on lessons learned

Hands-On Activities:

1. Determine sources of project risk by category
2. Assess overall project risk
3. Identify and categorize risk
4. Perform qualitative risk analysis
5. Perform quantitative risk analysis
6. Plan risk responses
7. Involve stakeholders

This course is also available on our public schedule via Live Virtual Classroom: