Project Risk Management

Project Risk Management is a major contributor to the success or failure of any project, regardless of its size, or association with a particular functional area or type of organization.  Every project contains negative risks or positive opportunities, which need to be explored throughout the entire project lifecycle from project initiation to project closing.  Participants in this two-day Project Risk Management course will enhance their knowledge from fundamentals to specialized concepts, as well as processes and tools and techniques related to risk management and risk assessment. 

In addition to concepts, proven methods, and best practices from real world experiences and examples, participants will learn high-level project risk planning. Major project risks associated with project scope, schedule, resources, and constraints will be identified, discussed, and documented to develop risk responses to implement control.  This course will address qualitative and quantitative risk analysis techniques as tools to plan risk responses. The Project Experience Risk Information Library (PERIL) database with sources, steps, and directions, is discussed to supplement organizational experience related to risk management.

Participants will identify the role of organizational influences on processes, policies, and enterprise environmental factors in the successful implementation of risk management for their own projects. The use of proven techniques in the correct context will help improve current practices to best practices leading to successful project outcomes, and ultimately, organizational growth.

Who Should Attend:

  • Current project managers seeking to improve their project risks and opportunities skill sets
  • Team members, planning advisors, and technical and functional subject matter experts (SME’s) contributing to the success of projects
  • Organizational managers, sponsors, and stakeholders
  • All personnel who make project-related decisions

Program Benefits:

This Project Risk Management course will help current project managers and their team members, as well as advisors and subject matter experts who are contributing to projects, to better understand and deal with project risks.

Based on the Project Management Institute’s (PMI)®, A Guide to the Project Management Body of Knowledge, (PMBOK ® Guide – Fifth Edition, 2013), real-world examples, and exercises, this course will provide knowledge of the project risk management processes with inputs, tools and techniques, and outputs of the following:

  • Planning for Risk Management
  • Identifying Risks
  • Performing Qualitative Risk Analysis
  • Performing Quantitative Risk Analysis
  • Planning Risk Responses
  • Controlling Risks

Tools and techniques surrounding risk register, questionnaires, risk audits, and risk surveys in identification of risks and assessment of impacts will be reviewed. The application of effective communication methods to all project stakeholders will be taught.

Case studies, group activities, and discussions will be used to identify scope related risks, as well as develop risk management and mitigation plans for schedule risks. They will also explore challenges with resource risks, in addition to the creation of risk categories, and the use of the Risk Breakdown Structure (RBS) and the Risk Matrix. Finally, the importance of risk prioritization will be discussed to result in the minimization of negative risks and maximization of positive opportunities to achieve project objectives.

Format:

Two-day program: 9:00 a.m. - 4:00 p.m.

Credit Available:

12 PDUs

Dates:

TBD

Cost:

$1,495

All program materials will be housed on Rutgers Learning Management System called Sakai.  Participants are encouraged to bring an iPad, laptop or other device that will allow you to view the materials in PDF format during each session.  If you don't have a device you can download and print the materials prior to coming each week.

10% Alumni Discount (check box on registration form)

Group and Corporate Discounts Available; contact EPE

Curriculum:

This course will cover the following topics:

  • Importance of Project Risk Management
  • Planning for Risk Management
  • Risk Identification
  • Working within Project Constraints
  • Documenting Risks
  • Qualitative and Quantitative Risk Analyses
  • Risk Response
  • Managing Project Risks
  • Monitoring and Controlling Project Risks
  • Closing Projects with Successful Results
  • Implementation of Project Risk Management Plan