Core Essential Project Management
IT Risk Management
In this course, you’ll learn to look at risk management as a way to seize opportunities, minimise threats and achieve optimum results. You’ll work through the proactive approach to threat and opportunity - based on a clear understanding of the powerful nature of both qualitative and quantitative approaches to risk management.
IT Risk Management examines threat and opportunity from the perspective of ESI’s proven eight-step risk management process. Using effective tools, including ESI’s highly regarded risk assessment model, you’ll learn how to evaluate and respond to risk at the project and task levels. You’ll apply these tools from the course material to analyse and classify risks, determine how to establish an acceptable level of risk and develop a practical risk response plan.
Included in the course is a multi-part case study that takes you from a risk overview at the beginning of an IT project through the challenges of ongoing assessment and reassessment of threats and opportunities throughout the project. Included in the participant course material is comprehensive reference material that is specific to each unit of the course.
You’ll leave this course prepared to face the challenges and opportunities of risk management with new practices to apply in your environment and new insights on the implications and advantages of applying risk management well.
What will I learn?
- Use a practical, eight-step process to manage IT project risk
- Identify threats and opportunities and weigh their relative value in your project
- Develop practical response strategies for common IT project risks
- Overcome stakeholder and team member roadblocks to risk strategy implementation
- Make risk and opportunity integral components of your next IT project plan
What is included in the price?
What topics will be covered in the course?
- Introduction to Risk and Risk Management Planning
- What is risk?
- Why is it important to manage risk?
- Is there a process for managing risk?
- How are IT Projects different?
- Who is responsible for risk management?
- How do project management and risk management interact?
- What happens during risk management planning?
- What are some techniques for identifying risks?
- How should a risk event statement be written?
- What are the common categories of risk?
- What are some common risks on IT projects?
- How are risks analysed?
- What's the difference between qualitative and quantitative risk analysis?
- How do you assess probability and impact?
- What is expected value and how is it useful?
- What are decision trees and how can you use them to calculate probability and expected value?
- What is PERT analysis?
- What is a Monte Carlo simulation?
- How can you use TwentyEighty Strategy Execution's Risk Assessment Model® (RAM®) to determine the overall risk of a project?
- Why should you prioritise risks?
- What techniques can you use to prioritise risks?
- What are the response strategies for threats and opportunities?
- How do you determine the best risk response strategy?
- What are risk reserves?
- What is the risk management plan (RMP)?
- Execute, Evaluate, and Document
- How do you implement risk response strategies?
- How can you tell if your risk response strategies are working?
- Why are risk reassessment and documentation important?
- Risk Management and Project Closeout
- What is the final risk assessment?
- Why is it important to document lessons learned?
Available as customised in-house training
Let us bring our classes to you! Our in-house training are ideal for groups of 10 or more people. We can provide Off-the-shelf training in the form of our classic courses, or we can provide bespoke training, tailored to your organisational goals and objectives. Find out more here.
Why choose us?
What sets us apart from many other training companies is that we guide you through your entire learning journey. We work together with you to assess your skills gap, map out your individual learning path and offer you the resources to then help you reinforce and adopt new tools and techniques learnt from your training and apply them to your daily work. Find out more.