Program Overview

Risk is a measure of the probability and consequence of not achieving a defined project goal. Most people agree that risk involves the notion of uncertainty. Can the computer be produced within budgeted cost? Can the new product launch date be met? Risk constitutes a lack of knowledge of future events. Typically, future events (or outcomes) that are favorable are called opportunities, whereas unfavorable events are called risks. 

This course will provide you with a step by step approach to using risk management and you can begin using as soon as you return to your project. This course includes hands-on activities, exercises, and group analysis. Delegates will become familiar with common risk management pitfalls, and then apply what they have learned in a case study as well as apply their knowledge to their own real world projects. Through this unique combination of techniques, attendees will gain both knowledge and experience with risk management techniques. 

Risk management is not an option it is a required part of project management. 

Course Outline 

1) The Definition of Risk
2) Tolerance for Risk
3) The Definition of Risk Management
4) Certainty, Risk and Uncertainty
5) Decision making under certainty
6) Decision making under risk
7) Decision making under uncertainty.
8) The Risk Management Process
9) Risk Planning
10) Risk Assessment
11) Risk Identification
12) Risk Analysism
13) The Monte Carlo Process
14) Risk Handling
15) Risk Monitoring
16) The Use of Lessons Learned
17) Problems
18) Case Studies.