Effective Project Risk Management

Effective Project Risk Management lies at the very core of successful project delivery. Project failure results in the failure to achieve the organization’s financial and strategic objectives, often with sizable increases in project cost and with substantial financial losses to the organization.

Accordingly, the systematic identification and quantification of project risks, as well as the development of detailed risk treatment strategies to mitigate all relevant risks that threaten the intended outcomes of the project, are essential to the achievement of project success.

This 5-day training course on Effective Project Risk Management will enable delegates to apply the tools and techniques of modern project risk management effectively in order to deal with a wide variety of risks and uncertainties related to the project.

The important features of the Effective Project Risk Management course are:

• Identifying risk categories related to your organization’s operations and projects
• Identifying project-specific risks and uncertainties related to design, planning, operation, and maintenance
• Using a proven set of skills and techniques for the quantification, analysis, and mitigation of identified risks, and
• Developing a systematic and dynamic Risk Management Plan

By attending the Effective Project Risk Management training course, delegates will learn how to:

• Identify project-specific risks and uncertainties related to project design, planning, execution, and operation
• Identify technical parameters, specifications, and the project schedule
• Use qualitative and quantitative methods to assess the exposure of the project to particular risks in real and measurable financial terms
• Prioritise and rank risks in order to deal with them systematically
• Apply the concept of expected monetary value to develop adequate contingency levels
• Employ the six primary risk treatment strategies to develop pro-active responses to potential risks
• Apply a dynamic risk mitigation process to reduce the risk profile to comply with organizational thresholds

The Effective Project Risk Management training course is designed for:

• project team leaders
• project planners and scheduling staff
• production engineers
• other project professionals

It is also beneficial for all staff members responsible for or involved in project risk management.

Participants will develop advanced project risk management skills and knowledge through formal and interactive learning methods. The course includes individual exercises, team projects, applicable case studies, group discussions and video material that will bring to life the skills acquired throughout the course.

The training course does not assume any prior knowledge of the topics covered. New concepts and tools are introduced gradually to enable participants to progress from the fundamental to the advanced concepts of project risk management.

Pre & Post course assessments will be used to measure the effectiveness of this training.