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Project Management

Project Risk Management


Introduction:

This seminar 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 to optimize results. However, risk management is too often treated as a reactive process, or worse, not done at all. In this Project Risk Management course, 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.

Targeted Groups:

  • Project Managers
  • Head of Departments
  • Risk Management Staff
  • Managers
  • Professionals who want to gain new skills to improve their profile

Course Objectives:

At the end of this course 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
  • Apply useful techniques to identify, analyze, mitigate and monitor risks in the project life cycle
  • 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)
  • Identify threats and opportunities and weigh their relative value in your project
  • Learn how to rank risks based on the amount of exposure to the company
  • Develop the skill necessary to quantify risks
  • Employ the concept of Expected Monetary Value (EMV) to prioritize the risk mitigation strategy
  • Control multiple risks using concise strategies
  • Make risk and opportunity integral components of your next project plan

Targeted Competencies:

  • Improving risk monitoring and control
  • Analyzing and assessing risks
  • Controlling risks
  • Mitigating risks
  • Reporting risks

Course Content:

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 Planning:

  • Plan the approach to risk management
  • Planning inputs, tools & outputs

Unit 3: Risk Identification:

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

Unit 4: Reviewing Cost & Schedule Risk Estimation:

  • 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 5: Risk Assessment & Quantification:

  • 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)
  • Monte Carlo simulation
  • Decision trees
  • Project risk rating & prioritizing
  • Risk analysis outputs

Unit 6: 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 7: Risk Response Control:

  • Risk management plan execution
  • Risk response control tools
  • Risk response control guidelines
  • Risk strategy execution
  • Evaluating risk response results
  • Risk documentation


UAE (Dubai)
27/6/2021 - 1/7/2021
Euro 2500
UAE (Dubai)
26/12/2021 - 30/12/2021
Euro 2500
UAE (Dubai)
19/9/2021 - 23/9/2021
Euro 2500
Egypt (Cairo)
24/10/2021 - 28/10/2021
Euro 2500
Egypt (Cairo)
13/6/2021 - 17/6/2021
Euro 2500
Morocco (Casablanca)
18/7/2021 - 22/7/2021
Euro 2500
Jordan (Amman)
19/9/2021 - 23/9/2021
Euro 2500
UK (London)
29/11/2021 - 3/12/2021
Euro 4500
UK (London)
26/4/2021 - 30/4/2021
Euro 4500
UK (London)
21/6/2021 - 25/6/2021
Euro 4500
Egypt (Sharm El-Sheikh)
2/5/2021 - 6/5/2021
Euro 2500
Egypt (Sharm El-Sheikh)
31/10/2021 - 4/11/2021
Euro 2500
Malaysia (Kuala Lumpur)
16/5/2021 - 20/5/2021
Euro 3500
Malaysia (Kuala Lumpur)
21/11/2021 - 25/11/2021
Euro 3500
Turkey (Istanbul)
22/8/2021 - 26/8/2021
Euro 3000
Turkey (Istanbul)
6/6/2021 - 10/6/2021
Euro 3000
Turkey (Istanbul)
12/12/2021 - 16/12/2021
Euro 3000
France (Paris)
18/10/2021 - 22/10/2021
Euro 4500
France (Paris)
22/3/2021 - 26/3/2021
Euro 4500
Switzerland (Geneva)
15/3/2021 - 19/3/2021
Euro 4500
Spain (Barcelona)
1/11/2021 - 5/11/2021
Euro 4500
Spain (Barcelona)
12/4/2021 - 16/4/2021
Euro 4500
Spain (Barcelona)
9/8/2021 - 13/8/2021
Euro 4500
Italy (Rome)
23/8/2021 - 27/8/2021
Euro 4500
Manama (Bahrain)
18/7/2021 - 22/7/2021
Euro 2500
Manama (Bahrain)
6/6/2021 - 10/6/2021
Euro 2500
Kuwait (Kuwait)
31/10/2021 - 4/11/2021
Euro 2500
Spain (madrid)
27/12/2021 - 31/12/2021
Euro 4500
Singapore (Singapore)
6/12/2021 - 10/12/2021
Euro 4500
USA (Boston)
12/7/2021 - 16/7/2021
Euro 5000
Netherlands (Amsterdam)
10/5/2021 - 14/5/2021
Euro 4500
Netherlands (Amsterdam)
26/7/2021 - 30/7/2021
Euro 4500
Germany (Munich)
19/4/2021 - 23/4/2021
Euro 4500
Online
21/11/2021 - 25/11/2021
Euro 1250
Online
29/8/2021 - 2/9/2021
Euro 1250
Online
13/6/2021 - 17/6/2021
Euro 1250