Euro-training Center
 Project Risk Management & Compliance (C8141) QR Code

Project Risk Management & Compliance

Overview:

Introduction

This conference will emphasize awareness of project risk management to minimize project cost/schedule overruns & improve project execution.

Project management is all about the management of risks; the ability to seize opportunities, minimize threats, and optimize results. However, risk management is too often treated as a reactive process, or worse, not done at all. In this Project Risk Management conference, you’ll work through the proactive approach to both sides of risk: threats and opportunities. The approach is based on a clear understanding of both qualitative and quantitative approaches to risk management.

Conference Objectives:

At the end of this conference the participants 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.

Targeted Audience:

  • Project Owners and Clients
  • Professionals whose roles involve leading and directing projects
  • Project Managers, Risk Managers and Project Team Leaders
  • All Personnel who are involved in carrying out project work assignments
  • Project Administrators, Supervisors and Support Staff
  • Project Planners, Schedulers, Cost Controllers and Engineers
  • Personnel working for project contractors and suppliers

Conference Outlines:

Unit 1: Risk Management Framework and Planning:

  • Key definitions
  • Project Management Body Of Knowledge (PMBOK) - 6 risk management processes
  • Project risk management goal
  • Purpose of risk management
  • Benefits of risk management
  • Responsibilities in risk management
  • Integrating risk management into the project management process
  • Components of risk
  • Types of risk
  • Six steps of risk management
    • Plan the approach to risk management
    • Risk Identification
    • Risk Assessment & Quantification
    • Risk Response Plan Development
    • Risk management plan execution
    • Evaluating risk response results

Unit 2: Risk Identification Processes:

  • Identification inputs & tools
  • Identification guidelines
  • Risk identification techniques
  • Risk categories
  • Risk identification outputs

Unit 3: Cost & Schedule Estimating Concerning Risk:

  • Cost estimating classes & types
  • Cost estimating methods
  • Accuracy, allowances, contingency & management reserve
  • Work Breakdown Structures (WBS)
  • Schedule diagramming - critical path method (CPM)
  • Resource management
  • Earned value method (EVM)
  • Baselining

Unit 4: Risk Assessment and Quantification Processes

  • Risk analysis inputs
  • Risk analysis guidelines
  • Probability analysis
  • Impact analysis
  • Risk analysis approaches - qualitative & quantitative
  • Risk analysis tools & techniques
  • Statistical sums in risk analysis
  • Program Evaluation & Revue Technique (PERT)
  • Decision trees
  • Project risk rating & prioritizing
  • Risk analysis outputs

Unit 5: Risk Response Plan Development:

  • Risk response development inputs, tools & techniques
  • Risk response strategy guidelines
  • Response strategies for threats
  • Response planning & network diagramming
  • Response analysis
  • Alternative responses
  • Reserves - contingency & management
  • Response planning outputs

Unit 6: Risk Response Control:

  • Risk management plan execution (Step 5).
  • Risk response control tools.
  • Risk response control guidelines.
  • Risk strategy execution.
  • Evaluating risk response results (Step 6).
  • Risk documentation.

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