Increasing Performance through Project Risk Management

Course Description Overview

035903

2 days

Proactively identifying and controlling risk greatly increases the accuracy of the project’s scope, schedule, and budget, as well as reduces the amount of time the team spends putting out fires. This course, based on PMI®’s PMBOK® Guide, Sixth Edition, focuses on improving the project manager’s risk management expertise, from initial planning through project closure. Participants apply all course principles to a real-world case study of their choosing.

Course Objectives:

Target Student:

This course is intended for:

· Project managers, project team leads, and project team members (with or without a currently-active PMI certification) who want to gain a deeper understanding of and hands-on experience with project risk management tools, techniques, and outputs, as documented in the PMBOK® Guide, Sixth Edition.

· Professionals who hold current PMP®, PgMP®, or other PMI credentials, who wish to earn Professional Development Units (PDUs) to maintain their PMI certification.

This course is not intended as direct preparation for any PMI certification exam.

Prerequisites:

To ensure that you benefit fully from this course, you should have experience managing, leading, or contributing to projects. A PMI project-management credential such as PMP® or CAPM® is recommended but not required.

Author

Brian Salk, PhD, PMP®, PMI-ACP®, has over 30 years of experience, specializing in hands-on traditional and agile project management, training, and consulting. He manages a variety of consulting and training programs and projects for his organization and for a number of Fortune 500 customers. His global clientele includes organizations in North America, South America, Europe, and the Middle East. In addition to authoring courses, Dr. Brian frequently delivers project-management certification training (e.g., PMP®) and project-management best practices training. He is a four-time winner of the prestigious Worldwide Excellence in Training award from a global training organization, recognizing the 25 highest-rated instructors from a network of over 2,400. Dr. Brian earned his PhD from Fielding Graduate University in the field of Human and Organizational Systems, with a focus on effective methodologies related to project management education, and his Masters of Arts (Education) from the University of Michigan.

Course-specific Technical Requirements Software:

Course-specific Technical Requirements Hardware:

Certification reference (where applicable)

Course Content:

Lesson 1: Risk Management Overview

Risk Management Benefit and Uses
Project Risk Management
Project Management Life Cycle
Case Study Selection

Lesson 2: Initiating Process Group

Initiating Process Group Overview
Develop Project Charter
Identify Stakeholders
Project Selection Criteria
ROI Analysis
ROI Methods
Risk Complexity Index
Project Selection

Lesson 3: Planning Process Group

Planning Process Group Overview
Scope Risks
Schedule Risks
Resource Risks
Plan Risk Management
Identify Risks

Delphi Technique
Subject Matter Expert Input
Brainstorming
Fishbone Diagrams
Process Analysis
Five Whys
Influence Diagrams
Risk Breakdown Structure (RBS)
Risk Register

Perform Qualitative Risk Analysis

Probability and Impact Assessment
Probability and Impact Chart

Perform Quantitative Risk Analysis

Three-point estimates
PERT
Triangular Distributions
Outlier Considerations
Geometric Mean
Normal Distributions Methods
Tornado Diagrams
Expected Monetary Value (EMV)
Monte Carlo