Project Risk Management
About the course
In project management is inevitable that something can go wrong. The difference in successful project management is adequately assessing the risks and then executing a successful risk response.
Organizations must have solid project risk management best practices in place in order to deliver projects within specified time frames, budgets, and quality requirements. Proactive risk management allows a project manager to optimize project results by implementing proven tools to plan for both threats and opportunities.
The course will present different approaches to identify risks, qualitative and quantitative methods to analyze risks and determine their impacts, risk ranking and response techniques, approaches to monitor & control and communicate risks throughout the project life cycle.
Increase the probability of project success by applying techniques to reduce threats and enhance unexpected opportunities. Learn how to prepare a comprehensive risk management plan.
Course outcome
Course Outcome
At the end of the training, the participants will be able to:
- Understand the steps required to create a Risk Management Plan according to ISO 31000 and best industry’s practices (PMBoK)
- Apply scalable templates for Risk Management Plans, Risk Registers and Risk Assessment Matrixes for managing project risks
- Perform a proven Qualitative Risk-Analysis process to guide your risk management decisions
- Perform the Quantitative Risk Analysis for calculating the possible impacts
- Determine risk mitigation measures, time and cost level of confidence and reserves
Course Outline
Day 1
- Worldwide project failure statistics
- Project Risk Management benefits
- International Risk Management Standards
- Project Life cycle
- Project Risk Management Processes overview
- Analyzing contents of a RMP model
- Applying a standard template to create your RMP
- Project brief overview
- Work Breakdown Structure
- Activity Network
- Critical Path Analysis
- TECOP (Technical, Economical, Commercial, Operational and Political) Identification
- Brain Storming
- Assessing high-level risks to the project
- Analyzing contents of a Risk Register Model
- Applying a proven template to create the Risk Register
- Detail description of the project risks
Day 2
- Defining the probability and impact scale
- Performing probability and impact analyses
- Applying the probability and impact matrix
- Accept
- Avoid
- Transfer
- Mitigate
- Exploit
- Share
- Enhance
- Ranking project risks
- Differentiating between acceptable and unacceptable risks
- Impacted schedule activities
- Duration uncertainties
Day 3
- Software used for Risk Analysis
- Three-point estimation
- Probability distributions
- Simulation-Multiple iterations
- Determining project’s cost and schedule level of confidence
- Calculating contingency reserves
- Project Management Processes Overview
- Final examination
Course format:
– Clasroom live
– Presentation
– Real Case study selected with attendees
– Exercices
Lenght: 3 days
Schedule: 8:00-16:00
Where: Client/ Other
Language: English/French
Certificate: Certificate of Completion
Trainer: Senior Project Planning & Risk Management Consultant, MSc Engineering & Business Management PMP® Certified, experienced in Nuclear, Rail, Oil and Gas…
Course Materials:
– Course manual
– Risk Management templates
– Project Risk Management guideline
– Ecostar Plan notebook and pen
Who should attend:
– Project Managers
– Engineers and Planners
– Chief Executive Officers
– Finance Managers
– Contracts and Claims Manager
– Project Risk Managers
– Document Controller
– PMO Support Engineer
– Cost Engineers
In what industries:
– Infrastructure
– Engineering and Construction
– Oil, Gas and Petrochemical
– Nuclear
– Power and Water Utility Plants
– Manufacturing and Industrial
– Government
– Aerospace
– Defense
– Financial Services
– Telecommunication
– Pharmaceuticals
– Environmental
– Shipbuilding
What you will get after the training
Course Manual
Certificate of completion
Case studies
Templates
Post course support
- Access to a local network for participants – continued development of PM skills, providing useful tools & information
- Access to our monthly meeting – giving students the possibility to stay in touch with the other students trained by Ecostar Plan
- Further courses recommendations
- Proven templates, guidelines
Why Ecostar Plan?
relevant industry experience
guaranteed quality
proven results
PM Consultants certified by
the Project Management Institute
understand real project needs
post course support
Benefits
According to international studies regarding PM Training results, companies had a 26% overall performance
improvement in 8 areas of project management due to their project management training programmes.
- Improved stakeholder satisfaction
- Improved schedule performance
- Decrease in project failures
- Increase is risk awareness
- Improved budget performance
- Improved productivity
- Better scope control
- Human Resources development
Evaluating training and results (ROI of Training)
Ecostar Plan by its experienced trainers is continuously evaluating training performance to show the value that programs have on the company through the following: - Reaction and value of the program
- Learning and confidence
- Application and implementation