Risk Management for Project Managers

11 July 2017 - 12 July 2017

OBJECTIVES 

With the knowledge and skills acquired at the end of the training program, the trainees will be able to use practical risk management processes and tools to manage project risks. This will in turn ensure successful project completion meeting project scope, cost and schedule.

The trainees will also work through the proactive approach to threat and opportunity risks — based on a clear understanding of the powerful nature of both qualitative and quantitative approaches to risk management. The training examines threat and opportunity from both a top-down and bottom-up perspective 6 risk management process. Using effective tools, the trainees will learn how to evaluate and respond to risk at the project and task levels.

COURSE OUTLINE
The course content concentrates on 6 Risk Management processes to manage project risks throughout Project Management Stages:
• Risk Management Planning – deciding how to approach, plan, and execute the risk management activities for a project.
• Risk Identification – Identify threats and opportunities and weigh their relative value in your project
• Qualitative Risk Analysis – prioritizing risks for subsequent further analysis or action by assessing and combining their probability of occurrence and impact.
• Quantitative Risk Analysis – numerically analyzing the effect on overall project objectives of identified risks.
• Risk Response Planning – developing options and actions to enhance opportunities, and to reduce threats to project objectives.
• Risk Monitoring and Control – tracking identified risks, monitoring residual risks, identifying new risks, executing risk response plans, and evaluating
The training introduces many practical tools, case studies and exercises to enhance learning and use in the next project plan.

Course Topics
- Foundations of Risk Management
- Risk Management processes
- Definition and characteristics of “risk”
- Event (future occurrence)
- Probability (uncertainty)
- Impact (amount at stake)
- Types of risk
- Quantification
- Response development
- Response control
- Risk management planning
- Risk identification
- Idea generation tools and techniques
- Quantification Fundamentals
- Probability and impact
- Qualitative
- Quantitative
- Probability analysis
- Analyzing and Prioritizing Risk
- Determining risk tolerances
- Analyzing risks
- Expected-value analysis
- Decision trees
- Prioritizing risks
- Risk response strategies
- Risk acceptance
- Risk avoidance
- Risk mitigation
- Transference
- Risk Response control
- Execute risk strategies
- Risk evaluation
- Reassessing risk
- Risk documentation


METHODOLOGY
Classroom lectures, experience sharing, case studies, exercises and quiz are included to enhance the learning process.

WHO SHOULD ATTEND
Executives, Engineers, Team Members, Team Leaders, Functional Managers, and Project Managers that are participate or manage small to big projects.

PRE-REQUISITE
Pre-requisite to this class is the “Project Management Fundamental ” class.

DURATION
2 Days (9am – 5pm)

COURSE FEE
Program 100% Claimable under SBL Scheme
PSDC Members: RM 740/pax
Non-Members: RM 810/pax

All prices listed above are subject to GST effective 1 April 2015.