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Risk Analysis and Management

What is it about?
This workshop provides a comprehensive guide to best practice in project-based risk management using a mixture of participant’s ‘live’ project experience and an engaging case study.

The workshop provides delegates with a detailed understanding of the risk life cycle and the use of both qualitative and quantitative techniques in risk identification, assessment and mitigation. International best practice from The Association for Project Management (APM)’s Project Risk Analysis & Management (PRAM) guide and The Project Management Institute (PMI)’s is shared with delegates.

Target Audience
This course is designed for all those involved in project risk management at any level. It can also be delivered for project teams based on their own project to engage the team in the process and produce tangible deliverables.

Course Content
The syllabus includes a comprehensive review of all elements of risk analysis and management, including:
  • Providing a thorough understanding of the principles of qualitative project risk management including using:
    • Brainstorming
    • Work, organizational, cost and risk breakdown structures
    • Project schedules
    • Key word identification
    • The project lifecycle
    • Project and corporate risk registers
  • Assessing the resource requirements and the benefits of different risk assessment techniques
  • Reviewing and practicing a wide range of risk identification techniques
  • Identifying risk factor models
  • Methods for ranking probability and impact, including weighting
  • Methods for ranking exposure
  • Providing a thorough understanding of the principles of quantitative project risk analysis methods including:
    • Monte Carlo method probabilistic analysis
    • ‘What If?’ analysis
    • Root cause analysis
    • Ishikawa diagrams
    • Decision trees
  • Providing a comprehensive review of risk mitigation and reduction strategies
  • Considering risk opportunity and related strategies
  • Risk reviews
  • The relationship between risks, issues and configuration management
  • Risk and change control
  • Implementing a risk management program and strategy to deliver practical benefits that can be applied by attendees immediately on their return to their project environment.