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.