Project Management - How to Risk Management Plan

Project Management - How to Risk Management Plan

This course results from 25 years of consulting project and portfolio management experience, including risk exercises on major projects.  We will start this course with a brief overview of the project manager’s responsibilities and the role of the risk management plan in the overall project plan.

We will then concentrate on the definition of the project risk and the discussion of key approaches to risk management: risk identification, risks assessment, risk responses (mitigation, acceptance, transference and avoidance) and risk monitoring.

Subsequently, we will analyze potential risks including but not limited to budgets/funding, schedule, scope changes, technical issues, HR issues, hardware, contracts, political concerns, and business, legal and environmental risks.

We will then discuss various risk identification techniques including Brainstorming, Delphi and Nominal Group methods and Interviews and Checklists.

Later we will shift into the Risk Analysis domain where we will look at the Qualitative Risk Analysis that includes Probability Impact Matrix and Risk Ranking table methodologies. By the same token, we will examine Quantitative Risk Analysis including the Three Point Estimate method, Decision Tree Analysis method and the Expected Monetary Value (EMV) approach.

Also, we will examine four traditional Risk Response mechanisms involving mitigation, acceptance, transference and avoidance.

We will conclude this course by examining risk triggers.

Learn to analyze potential risks, a key aspect of a professional project plan.

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What you will learn

• Discussion of PM responsibilities with respect to Risk Management
• Analysis of the project risk management process
• Purpose of the Risk Management Plan

Rating: 4.63636

Level: Beginner Level

Duration: 1 hour

Instructor: Jamal Moustafaev, BBA, MBA, PMP