Project Risk Management - Virtual Learning

Why Attend

The aim of this course is to enable participants to plan, manage and control project risks. By taking this course, participants will learn to develop project risk management plans and identify project risks related to a project. They will learn to qualify and quantify project risks and develop appropriate risk responses.

Course Objectives

By the end of the course, participants will be able to:

  • Develop risk management plan, identify project risks using different techniques and manage risk register.
  • Perform qualitative and quantitative risk analysis to determine the overall project risk score and utilize techniques such as Monte Carlo simulation and decision tree analysis
  • Plan strategies for negative and positive risks
  • Review and control project risks through reassessments and audits

Target Audience

This course has been designed for project risk managers, risk owners, project managers, members of the project office, project sponsors, functional managers, senior management and individuals interested in project risk management. Meirc is assigned as a Registered Educational Provider (REP) with the Project Management Institute (PMI®). This course is worth 12 Professional Development Units (PDUs).

Target Competencies

  • planning risks
  • identifying risks
  • assessing risks
  • evaluating responses
  • monitoring risks
  • reviewing risks

Note

  • This course includes hands-on training on Monte Carlo simulation using Excel. Laptops will be made available by Meirc.
  • Project risk-related templates will be distributed during the course.
  • Introduction to project risk management
    • Definitions of risk and risk management 
    • Level of risks in projects
    • Pure and business risks
    • Benefits of project risk management
  • Planning and identifying project risks
    • Risk Utility
    • Risk management plan elements
    • Defining risk probability and impact matrix
    • Identifying project risks
      • Creativity techniques for data gathering
        • Brainstorming
        • Delphi technique
    • SWOT analysis
    • Risk register
    • Risk report
  • Performing risk analysis
    • Quantitative risk analysis
      • Risk probability and impact assessment
      • Hierarchical charts
      • Risk categorization
      • Risk urgency assessment
      • Project risk score
    • Performing Quantitative Risk Analysis
      • Interviewing and three-point estimate
      • Monte Carlo simulation
      • Expected Monetary Value (EMV)
      • Decision trees
  • Developing risk response strategies
    • Negative risk response strategies (threats)
    • Positive risk response strategies (opportunities)
    • Fallback plan
    • Secondary and residual risks
  • Implementing responses and monitoring risks
    • Status meetings and work arounds
    • Variance analysis
    • Risk Assessment and audit

Meirc Professional Certificate (MPC)

MPC certified courses by Meirc Training and Consulting are designed for those willing to challenge themselves and go the extra distance. Participants who fully attend an MPC course and successfully complete the test on the last day, will receive a Meirc Professional Certificate (MPC), in addition to the one they receive for attendance. MPC certificates are regionally recognized and can be quite valuable when applying for more senior roles within the organization or outside.

MPC

Project Management Institute (PMI)®

Meirc is designated as a Registered Educational Provider (R.E.P.) with the Project Management Institute (PMI)®. As a result, Meirc is authorized to issue Category Three Professional Development Units (PDU) that can be used for the authorization to take the Project Management Professional (PMP)® certification exam and for maintaining the PMP credentials.
Meirc is a Provider is a member of the PMI ATP Program. PMI does not specifically endorse, approve, or warrant ATP’s products, courses, publications, or services. The PMI ATP seal is a registered mark of the Project Management Institute, Inc.

Visit Website
Associations
Per participant

USD 1,750

Fees + VAT as applicable

Tax Registration Number : 100239834300003

Online Training