Project Management Course Description:

Learn the skills to identify opportunities and risks, and to evaluate their impact on the project.

This course provides a comprehensive overview of essential tools and techniques for qualitative and quantitative risk analysis. Each student learns first-hand how to apply risk management skills.

Course Prerequisite:

Experience working on or leading projects

Format: 2 days - 12.0 PDUs

Course Objectives:

After completing this course, students will know how to:

• Explore risk management practices, and understand risk management concepts
• Integrate risk management into project planning
• Identify project risk, and understand and identify risk factors
• Manage risk assessment goals, identify the advantages of an assessment methodology, and identify the cost and schedule risks
• Use simulation tools and statistical techniques, work with risk analysis, and use knowledge-based risk management
• Formulate and apply risk management approaches
• Identify the project environment, and manage stakeholder groupings and categories
• Use problem solving, apply risk identification and filtering, use risk analysis, apply risk assumptions modeling
• Use brainstorming, sensitivity analysis, probability analysis, the Delphi method, Monte Carlo simulation, decision tree analysis, utility theory

Project Management Course Outline:

Lesson 1: Risk Processes and Practices - Why Risk Management?

Management responsibilities, the nature and types of uncertainty, decision making in the face of incomplete information, benefit versus cost tradeoff, the goals of risk management

Lesson 2: Risk Lifecycle

Integrating risk management into project planning, the natural risk management sequence, variation of risk throughout the project life cycle, the four phase approach to risk management

Lesson 3: Risk Identification

Types of risk, project risk identification, project risk analysis, understanding and identifying risk factors.

Lesson 4: Risk Assessment and Response

Risk assessment goals, introduction to the risk assessment methodology, risk response factors, risk documentation requirements.

Lesson 5: Formal Risk Analysis

Input, output, and tools and techniques for each of the following: risk management planning, risk identification, qualitative risk analysis, quantitative risk analysis, risk response planning, and risk monitoring and control.

Lesson 6: Risk Planning Case Study

Real-world example of risk planning: detailed analysis and discussion.

Lesson 7: Delphi Workshop

Large, real-world example of a comprehensive application of risk management planning, risk identification, qualitative and quantitative risk analysis, risk response planning, and lessons learned analysis. Detailed exploration of the Delphi Technique

Lesson 8: Statistics and Uncertainty

The building blocks of uncertainty analysis, and hands-on proficiency with statistical tools and techniques, including decision theory, cash flow analysis, net present value, and simulation.

Lesson 9: Risk Management Methodology

Comprehensive summary of industry best practice