Sultan Business Centre   
Oud Metha Road, Office 320   
Dubai, United Arab Emirates   
Tel: +971 (0) 4 4072 569   

Project Risk Management

PDF document    Download description

Learn How To:

  • 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 limited strategies
  • Overcome psychological barriers to risk in stakeholders and team members
  • Make risk and opportunity integral components of your next project plan

Course Synopsis

Project management is opportunity management. It is the ability to seize opportunities, minimize threats and achieve optimum results. Too often, risk management is seen as reactive, or worse, unresponsive. Nothing could be further from the truth.

In this course, you will 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. You will also examine threat and opportunity from both a top-down and bottom-up perspective, using ESI’s proven eight-step risk management process. Using effective tools, including ESI’s highly regarded risk assessment model, you will learn how to evaluate and respond to risk at the project and task levels.

Included in the course is a multi-part case study that takes you from a risk overview at the beginning of a project through the challenges of ongoing assessment and reassessment of threats and opportunities throughout the project.

You will end the course with new practices to apply in your environment and new insights into the implications and advantages of applying risk management.

Course Topics

Click an individual topic title to expand/contract it or
Expand All Topics | Contract All Topics

  1. Introduction to Risk
    1. Definition and characteristics of "risk"
    2. Elements and factors of risk
      • Event (future occurrence)
      • Probability (uncertainty)
      • Impact (amount at stake)
    3. Types of risk
    4. Components of risk management
      • Identification
      • Quantification
      • Response development
      • Response control
  2. Risk Management Planning and Identifying Risks
    1. Risk management planning
    2. Risk identification
    3. Idea generation tools and techniques
  3. Analysis Fundamentals
    1. Probability and impact
    2. Presenting risk
      • Narrative
      • Qualitative
      • Quantitative
    3. Probability analysis
  4. Analysing and Prioritising Risk
    1. Determining risk tolerances
    2. Analysing risks
    3. Establishing and evaluating profitability
    4. Risk-based financial tools and techniques
    5. Expected-value analysis
    6. Decision trees
    7. Prioritising risks
  5. Risk Response Planning
    1. Risk response strategies for opportunities and threats
    2. Risk acceptance
    3. Risk avoidance
    4. Risk mitigation
      • Probability minimisation
      • Impact minimisation
      • Transference
    5. Establishing reserves
  6. Execution, Evaluation and Update
    1. Risk Response monitoring and control
    2. Execute risk strategies
    3. Contingency plans and work-arounds
    4. Risk evaluation
    5. Reassessing risk
    6. Risk documentation
 
Public Classroom Courses

Public Course Information

Duration: 3 days
Professional Development Units (PDUs): 18
Fee: $3295

For more information on public courses click here (opens in a new window)

Course Dates (click on a date to book)

Register

In Association with IIR Middle East

This course is also available in the UK:

Register

The following courses are available in the UK:

E-Training

E-Training Course Information

Course Code: RSK520
Access: 42 days
Professional Development Units (PDUs): 28
Fee: £795

To register or for more information on e-Training click here

In-house Corporate Training

This course is available as in-house corporate training. Available to groups of 10 or more (please note this is a guideline). To find out more about corporate training for your organisation click here.

 

PMBOK® Guide knowledge areas:

click for more details

OpenCube