Duration
1 day
Suitable for participants who wants to be aware of project risks.
Overview
This course is intended for business management, IT, engineering and production professionals, who need to acquire an awareness in: risk management understanding, managing and/or developing and executing and controlling technical and non-technical projects.
The course content focuses on how to risk-manage such projects within the client's contexts. This course will be particularly useful for developing project management specialists within the organisation who would anticipate and identify potential project problems and issues, rank the risks, brainstorm for possible risk responses, study impact of risks to schedule/cost/quality/scope including evaluating risk response feasibilities, and track/control risk response implementations.
This course is compliant to Project Management Institute PMBOK, and is carefully designed to provide the best mix of experience, theory and practice in an adult learning environment. Formal presentations are used mainly to introduce key concepts and significant elements of risk management. Emphasis is on practical applications through action learning. This will require a high level of participation and team involvement. Maximum opportunities will be given to participants to inject their own examples and issues into the course and continually relate the material to their own contexts.
Participants are encouraged to bring their projects to the session. Project Risk Management checklists and templates are provided to help users in planning and controlling projects. Ample case studies, examples and interactive individual/group exercises are also provided.
Objectives
- To instil the habit of anticipation with regard to identifying possible project problems, opportunities, and their project contingencies and project risks.
- To understand the use of Project Management tools for the timeliness, cost impacts and resolutions, quality issues and scope of projects.
- To produce a Risk Management Plan which itemises and assesses the risks, risk triggers, risk responses, and response implementations toward the risks.
Course Content
The sessions will normally start at 9.00 am and end at 5.00 pm, or at client’s timing preference; with two 15-minute tea breaks and an hour lunch.
DAY 1: Morning
Introduction to Risk Management
Principles of project uncertainties.
Definition and characteristics of “risk”.
Variation of risk within the project management lifecycle.
Types of risk – external, cost, schedule, technology, operation risks, etc.
Risk Management Process
Risk management planning
Risk identification by work/activity (using Work Breakdown Structure, Brainstorming, and Ishikawa Diagramming techniques).
Risk assessment (using probability of risk occurrence, and impact consequences).
Risk trigger (determining when the risk occurs).
DAY 1: Afternoon
Risk impact studies (determining how the risk will impact on schedule, cost, quality and scope of the project).
Determining the likely risk responses.
Priortising risks.
Monitoring high profile risks – risk watch list.
Planning for Risk
Risk strategies – risk avoidance, mitigation, transfer/deflection, and acceptance.
Establishing reserves.
Execute risk strategies.
Training Methodology
Presentation and case studies.
Who Can Benefit
Managers, executives, engineers, and technicians, who are directly or indirectly involved in risk management of projects.
Programme scope, delivery arrangements and suitability are confirmed during enquiry.