Duration

2 days

Overview

Project risk management is the identification, analysis, response and monitoring of the uncertainty that lies ahead of the project as it moves through its life cycle. The primary objective of this aspect of project management is to bring the inherent uncertainty in project objectives under control, to the extent that the available information, tools and techniques allow. The increasing complexity of both public and private sector environments has resulted in increased levels of uncertainty. An expanding scope for public sector projects has introduced unknown factors and consequences for public sector projects. In addition, fast-paced changes in technology have introduced further complexity and uncertainty.

Consequently, the demands on public sector project managers to produce high levels of project performance are more urgent than ever before. A crucial requirement for project success is the capability to minimize uncertainty by adopting a structured approach to identifying, understanding and effectively dealing with risks.

This course provides participants with knowledge of risk management processes and tools based on global good practices. In addition, practical skills are taught using a project simulation as a case study.

Course Objectives

At the end of the course, participants will:

Understand the significant degree of uncertainty inherent in public sector projects and the critical importance of managing that uncertainty.
Have a basic understanding of Project Risk Management as applied in the public sector environment.
Gain awareness of tools and techniques to identify, analyze, plan risk responses, and monitor and control project risks.
Be aware of the good documentation practices associated with effective project risk management in the public sector.

Module 1 Introduction

Breaking the ice, course administration, feedback on participants’ specific public sector work environment and expectations of the course.
Course objectives and agreement on learning approach and outcomes.
Course overview, including public sector risks.

Module 2 Definitions and Introduction to Structured Risk Management

Definitions of risk and risk management with a review of the theoretical underpinnings of this very practical discipline.
The reality of public sector project uncertainty and the implications for achieving project objectives.
A risk management methodology:
Risk management life cycle processes.
Roles in risk management.
Decision-making.
Risk management documentation.
The current state of applied risk management in public sector projects: Acceptance, challenges and perceptions of priorities.

Module 3 Practical Application of Risk Management Processes, Tools and Techniques

A thorough and effective planning approach to bring public sector project uncertainty as much as possible under the control of the project management team, with the development of a Risk Management Plan including:
Identification of the risk management methodology to be employed.
A risk management budget as part of the overall project budget.
Risk metrics, tools, techniques and risk reporting guidelines.
Application of the Risk Management Plan in a pragmatic fashion to fit the scale and complexity of a specific public sector project.
A practical approach to running risk workshops for public sector risk identification, analysis and response planning.
Qualitative and quantitative techniques for risk analysis.
Tools for risk monitoring and control.

Module 4 Review and Summary of Project Risk Management in the Public Sector

How risk management fits into the project life cycle and relates to the other project management processes or Knowledge Areas.
Comparison of public versus private sector risk management approaches.
How risk management fits into overall public sector project governance.
Hands-on practice with a project simulation case study:
Create a Risk Management Plan.
Perform the processes to identify risks, analyze them, plan risk responses, and finally monitor and control project risks in the case study project.
Discuss the application of the processes in actual ongoing projects.

Course Benefits

Participants will be aware of the critical importance of risk management as a good practice to ensure the success of meeting project objectives. Consequently, the structured approach and proper communication of the risk management effort will engender greater confidence among stakeholders in the ability of the project to deliver their expectations. Also, a consistent and standard approach to risk management will lead to an improvement in organizational project performance.

Who Will Benefit

This course is designed specifically for public sector professionals at all levels. Participants are assumed to have some degree of project management experience, and could be currently in a project support role or be actual project management professionals, acting as Project Sponsors or Project Managers.

Programme scope, delivery arrangements and suitability are confirmed during enquiry.

Risk Management in Public Sector Projects