Brief Overview

Project Risk Management is a process or activity associated with identifying risks, analysing risks, developing appropriate responses to risks and monitoring risk triggers to projects. Managing risks on projects is a process that includes risk assessment and a mitigation strategy for those risks. Risk assessment includes both the identification of potential risk and the evaluation of the potential impact of the risk. A risk mitigation plan is designed to eliminate or minimise the impact of the risk events – occurrences that have a negative impact on the project. Identifying risk is both a creative and a disciplined process.

 Learning Outcomes

At the end of this training, our delegates will be able to;

Identify the major elements in managing project risk

Describe the processes for identifying project risk

Streamline the processes for evaluating risk

Explain the processes for mitigating risk

Understand Project Risk management process

Analyse Risk response

Explore Qualitative risk analysis

Target audience

• Project managers
• HR and HRD Practitioners
• Managers and Executives
• People Development
• Career or Succession Planners
• Research or Investigation Personnel
• Employee or Union Representatives
• Risk Managers
• Administration Clerks
• Training and Skills Personnel
• Performance Management Personnel
• Team Leaders
• Department Supervisors
• Monitoring and Evaluation Personnel
• Project Members
• Skills Development Officers

 Identifying major elements of project risk management

• Value of risk management
• Project risk management process
• Small effort = Less Risk
• Statement of policy
• Project risk management planning

Analysing Project Risk Management Process

• What is meant by “Risk” ?
• The Project Risk Management Process
• Three‐Tiered Scalability
• Organisation, Roles and Responsibilities of managers
• Managing the Risk Register
• Communication in the management process

Planning Project Risk Management

• Creating the Project’s Risk Management Plan
• The Project Risk Management Team
• Incorporating Project Risk Management Activities into the Project Schedule
• The First Project Risk Management Meeting
• Explaining Quantitative Risk Analysis
• Sensitivity Analysis
• Failure Mode Effects Analysis (FMEA)
• Quantifying the Risks
• Entering Quantifications into the Risk

Understanding Risk Identification Techniques: The Monitoring and Evaluation

• The Risk Register
• Entering Data into the Risk Register
• Risk identification and project development
• Risk assessment: Inputs, techniques, tools and outputs
• Identifying Project Risks
• Examples of Risk Statements: Risk review and lessons

Developing Project Risk Strategies

• Analyse Risks
• Prioritise risks
• Develop management plans
• Evaluate progress
• Re -evaluate risk exposure
• Exploring Qualitative Risk Analysis
• Risk Assessment
• Entering Assessment into Risk Register Columns
• Probability and Impact Ratings for Level 2 Projects
• Performing Qualitative Risk Analysis

Entering Assessments into the Risk Register

• Analysing Risk Response
• Risk Response Strategies
• Examples of Risk Responses
• Responding to Risks
• Entering Risk Responses into the Risk Register
• Discussing Communication and Accountability
• Communication and Accountability Checkpoints
• What Happens at a Communication Checkpoint
• What Happens at an Accountability Checkpoint
• What Happens at the Performance Measure
• Understanding the legal implications in Project risk management
• Exploring the essential legal terms and how to use them
• Knowing how to manage risk in a way that is legally significant
• Streamlining project risks management analysis from a legal perspective

Trainers without Borders offers customised solutions for your training needs. Please contact us for course pricing and more information