Project Risk Management and Compliance
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Project Risk Management and Compliance Course
Introduction:
Project risk management involves the proactive management of potential risks that can impact a project, whether positively or negatively. The objective is to minimize the impact of these risks. Unlike regular problems, risks can arise suddenly and unpredictably. Project managers may not always be aware of the specific risks the project faces, when they may occur, or their causes. Due to this inherent uncertainty, project risk management necessitates a comprehensive and systematic approach.
Course Objectives:
At the end of the Project Risk Management & Compliance training course, you will be able to:
- Get an overview of the Risk Management Process
- Learn to identify risks that affect project quality, time & schedule, cost and scope
- Learn how to rank risks based on the amount of exposure to the company
- Apply useful techniques to identify, analyze, mitigate and monitor risks in the project life cycle
- Develop the skill necessary to quantify risks
- Learn how to create an effective risk monitoring plan and risk management strategies.
- Use a practical, six-step process to manage project risk
- Develop a risk budget based on expected monetary value (EMV)
- Examine both the threats and opportunities facing their projects from both a top-down and bottom-up perspective using a proven six-step risk management process.
Who Should Attend?
Project Risk Management & Compliance training course, is ideal for:
- Individuals such as Project Management Professionals who want to develop and refine their project risk management skills
- Professionals, no matter what your industry background are (i.e. engineering, information technology or business), this training course will cover both the fundamental principles and modern techniques of project risk management
Course Outlines:
Risk Management Framework and Planning
- Key Definitions
- The PMBOK® Six Risk Management Processes
- Purpose & Benefits of Risk
- Responsibilities in Project Risk Management
- Integrating Risk Management into the Project Management Process
- Risk Management Planning
- Risk Planning Process
Risk Identification Processes
- Project Context & Stakeholders
- Risk Identification Inputs
- Risk Identification Tools & Techniques
- Risk Identification Outputs
Risk Assessment Process
- Project Estimating Techniques
- Schedule Diagramming - Critical Path Method (CPM)
- Project Evaluation & Review Technique (PERT)
- Qualitative Risk Analysis
- Quantitative Risk Analysis
Risk Response Plan Development
- Risk Prioritization
- Risk Response Strategy Guidelines
- Response Strategies for Threats & Opportunities
- Response Planning & Analysis
- Alternative Responses
- Response Validation
- Reserves - Contingency & Management
Risk Response Control
- Resource Management
- Risk Control Guidelines
- Risk Control Inputs
- Risk Control Tools & Techniques
- Risk Control Outputs
- Risk Reporting & Documenting
- Course Summation & Work Session Review