Duration
2 days
Overview
This course is designed specifically for project management professionals. The assumption made here is that project management professionals here could mean project managers, project leads, project supervisors or project team members with minimum 3 years project experience. These professionals work with project stakeholders in a project and business environment. It is also assumed that these project management professionals may have a lot of experience in project management principles or practices as they may be working in project environments for a few years. They may or may not be certified.
Therefore, the main purpose of this course is to provide a structured detailed working understanding to these project management professionals regarding proper project risk management principles, key concepts and best practices and how these work in tandem with the performing organization and project teams to minimize risk exposure thereby increasing project effectiveness and business value. The course content is based on the internationally recognized Practice Standard for Project Risk Management by PMI (Project Management Institute).
Course Objectives
At the end of the course, participants will:
- Understand the definition of Project Risk Management and introduction to project risk management in alignment with the PMBOK® Guide 5th Edition and Practice Standards by PMI.
- Have a functional understanding of the principles and key concepts especially its relevance in the project and corporate organization.
- Have a basic understanding of the 6 project risk management processes according to PMIs PMBOK® Guide 5th Edition and the Practice Standard.
Module 1 Introduction
- Introduce the Trainer and Welcome the participants
- Break the ice and be comfortable with one and another
- Highlight any administrative information
- Gain feedback/consensus on expectations
- Introduce the Course Objectives and provide an Overview about Project Risk Management
Module 2 Definitions
- Provide more clarity on the definition and purpose of good project risk management principles/practices
- Give a working understanding of the role/context of project risk management in project management
- Discuss the purpose and need for good project risk management practice
- Highlight the critical success factors for project risk management
Module 3 Principles and Key Concepts
- Understand and to distinguish between individual risks and overall project risks
- To be aware of the expectations and the importance of the role of stakeholders in project risk management efforts
- Identify the risk attitudes of stakeholders with regards to project risk management efforts
- Realize the importance of effective communication and communications methods in achieving good project risk management practices/efforts
- Understand the various roles and responsibilities in project risk management
Module 4 Project Risk Management Processes
- Provide a functional understanding of the 6 project risk management processes and how these processes are important/applicable towards project risk management best practices;
- Plan Risk Management
- Identify Risks
- Perform Qualitative Analysis
- Perform Quantitative Analysis
- Plan Risk Responses
- Control Risks
- Purpose and Objectives
- Critical Success Factors
- Inputs
- Tools and Techniques
- Outputs
- Documentation
Course Benefits
Participants will be able to better understand the workings of project risk management and utilize Project Risk Management Key Concepts and will be in a better position to support project environments better. The organization will also begin to see better alignment, standardization and consistency towards more effective management of projects and customer expectations.
Who Will Benefit
- Project Management Professionals (project managers, project leads, project supervisors or project team members)
- Project Key Stakeholders
- The Organization (Management and Senior Management)
- Customers
Programme scope, delivery arrangements and suitability are confirmed during enquiry.