Strategic Risk Management

Price
$795.00 USD

Duration
1 Day

Delivery Methods
Virtual Instructor Led
Private Group

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Course Overview

Project risks left unidentified and unmanaged, can derail organizational performance. Project managers and project participants need to be proficient at identifying and managing risks on their projects. This course is designed to teach you hands-on approaches to identifying and managing risks.

Note: This course has been approved by PMI for 8 PDUs.

Course Objectives

Describe risks using a three part statement
Understand how risk attitudes affect your project
Create useful tools to track risk
Communicate risk information to stakeholders
Develop a risk management plan
Create a meaningful risk matrix
Use operational definitions to reduce bias
Track risk occurrence and variances
Calculate project contingencies

Who Should Attend?

This course is designed for project managers and/or project participants seeking a deeper understanding of proven risk management techniques.

Top-rated instructors: Our crew of subject matter experts have an average instructor rating of 4.8 out of 5 across thousands of reviews.
Authorized content: We maintain more than 35 Authorized Training Partnerships with the top players in tech, ensuring your course materials contain the most relevant and up-to date information.
Interactive classroom participation: Our virtual training includes live lectures, demonstrations and virtual labs that allow you to participate in discussions with your instructor and fellow classmates to get real-time feedback.
Post Class Resources: Review your class content, catch up on any material you may have missed or perfect your new skills with access to resources after your course is complete.
Private Group Training: Let our world-class instructors deliver exclusive training courses just for your employees. Our private group training is designed to promote your team’s shared growth and skill development.
Tailored Training Solutions: Our subject matter experts can customize the class to specifically address the unique goals of your team.

Learning Credits: Learning Credits can be purchased well in advance of your training date to avoid having to commit to specific courses or dates. Learning Credits allow you to secure your training budget for an entire year while eliminating the administrative headache of paying for individual classes. They can also be redeemed for a full year from the date of purchase. If you have previously purchased a Learning Credit agreement with New Horizons, you may use a portion of your agreement to pay for this class.

If you have questions about Learning Credits, please contact your Account Manager.

Course Prerequisites

There are no prerequisites for this course.

Agenda

1 - Introduction

Risk management concepts
Benefits of strategic risk management
Integrating risk management within the project management life cycle
Taking a leadership role in risk management
Definitions of stakeholder risk tolerances and attitudes
Developing a risk management plan
Defining risk categories
Defining probability and impact
Developing a risk matrix
Communicating risk information
Critical success factors
Risk Identification
Identifying types of project risks
Critical success factors
Who should be involved in risk identification?
Tools & techniques for identifying risks
Writing an accurate risk statement
Developing a useful risk register
CASE STUDY EXERCISE

2 - Risk Analysis

Qualitative risk analysis defined
Critical success factors
Risk probability and impact assessment
Risk urgency assessment
Using the risk matrix
Quantitative risk analysis defined
Knowing when to quantify
Risk impact calculation
Expected monetary value - determining the risk reserves
Decision trees
Monte Carlo simulation & probability distributions
CASE STUDY EXERCISE

3 - Risk Response Planning

Response Planning
Critical success factors
Risk response strategies
Developing the risk response plan
Tools & techniques for risk responses
Planning for Residual and Secondary Risks
Response planning documentation
CASE STUDY EXERCISE

4 - Controlling Risk

Purpose and objective of risk monitoring and control
Life cycle of a Risk
Critical success factors
Using contracts as a risk management tool
Tracking risks using the risk register
Implementing risk response plans
CASE STUDY EXERCISE

5 - Risk Closure and Communication

Purpose and objective of risk closure and communication
Critical success factors
Communicating risk status
Creating a central repository of risk information - the Corporate Knowledge Base