Project Risk Management

Code: PRJR
Format: Online Training
Duration: 3 hours
Language: English
Price: 240 Euro + VAT (if applicable)

COURSE OVERVIEW

This course explores the essential aspects of project risk management. As all projects face various risks, project managers need to manage these risks effectively throughout the project lifecycle. By attending this course, you will develop the skills to create a comprehensive risk management plan, assess your project and its environment to identify and categorise risks, perform a thorough risk analysis, apply appropriate strategies to transfer or mitigate unacceptable risks and establish monitoring and control systems. This comprehensive approach will enable you to confidently manage project risks and increase the likelihood of project success.

LEARNING OBJECTIVES

Upon completion of this course, participants will be able to:

• Define and explain the concept of risk, its meaning and how decisions can be made under risk conditions.
• Describe the principles of risk management and apply them to real-life scenarios.
• Analyse the components of a risk management system and evaluate their effectiveness in different contexts.
• Investigate different risk transfer mechanisms, including the use of contracts, and assess their appropriateness in different situations.
• Develop a comprehensive risk management plan incorporating appropriate risk identification, assessment, mitigation, and monitoring strategies.

COURSE CONTENT

• Introduction to Risk in Project Management
  • Background to risk
  • Definition of risk
  • Risk tolerance
  • Types of risk
• Risk conditions, decision making and real-world examples
  • Risk conditions and decision making 
  • Case studies of risk management in practice
• Risk management basics
  • The concept of risk management 
  • Planning for risk management
  • Managing risk
• Components of a risk management system
  • Risk identification
  • Risk analysis
  • Interdependencies between risks
  • Risk response planning
• Risk transfer mechanisms and their application
  • Risk transfer through contracts 
  • Insurance and other risk-sharing strategies
  • Assessing appropriateness in different situations
• Developing a comprehensive risk management plan
  • A step-by-step guide to developing a risk management plan, including strategies for identifying, assessing, mitigating and monitoring risks
• Monitoring and controlling risk in project management
  • Risk monitoring and control
  • The impact of risk management activities
  • Adjusting risk management strategies based on monitoring results

TARGET AUDIENCE

Project managers, project team members

PREREQUISITES

None

ADDITIONAL INFORMATION

This online, instructor-led course is delivered on Microsoft Teams by one of our PMP-certified trainers. Students receive course materials and a certificate of completion. Upon completion of the course, students are eligible for 3 contact hours.

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