Tools For Project Risk Management
Course Description:
Benefit from the strategic partnership between SOMOS Consulting Group and Deltek, the leading vendor of Project Management tools. For a limited time, customers attending SOMOS' Risk Management training will receive a licence to the best-in-class Risk Management software - Risk+™.
This two-day course provides an in-depth examination of the management of risk in projects. Different risk management methodologies and techniques are presented, including both Qualitative and Quantitative processes. Attendees receive hands-on practice with WelcomHome™ (Qualitative Risk Management) and Risk+™ (Quantitative Risk Analysis), and will take home a licensed copy of Risk+ at the end of the course.
The course uses a combination of lectures, exercises, case studies, and hands-on practice with software tools.
Objectives:
Achieving objectives in the presence of uncertainty is a requirement of most projects. In projects involving research, new technology, aggressive deadlines, or changing staff, the uncertainty is greater and the stakes are often higher.
After completing the Tools for Managing Project Risk course, participants will be familiar with basic risk management theory, concepts, and principles. They will learn some techniques for identifying and analyzing risk along with standard techniques for managing risk. Participants will learn about the PMBOK® framework for Risk Management and the SEI framework for Continuous Risk Management.
The course also prepares participants to write the Project Risk Management component of the Project Management Professional (PMP®) examination. Current PMP's earn 14 PDUs for attending.
Duration:
2 Days
Course Outline:
Day 1
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Course Introduction
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Introduction to Project Risk Management
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Intro to Risk
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Principles of Project Risk Management
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Continuous Risk Management
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Risk Management Planning
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Risk Management Planning Process
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Stakeholder Analysis
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Risk Tolerance
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Risk Management Plan
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Risk Identification
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Risk Identification Process
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Types of Project Risk
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Project Risk Identification Techniques
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Project Risk Data Collection
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Qualitative Risk Analysis
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Qualitative Risk Analysis Process
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Characterizing Risk
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Ranking Risks
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Assessing Quality of Information
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Assumptions Analysis
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Day 2
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Quantitative Risk Analysis
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Quantitative Risk Analysis Process
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Decision Trees
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Expected Monetary Value
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Statistical Sums
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Monte Carlo Simulation
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Deltek Risk+™
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Risk Response Planning
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Risk Response Planning Process
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Risk Transfer
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Probability Reduction
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Impact Reduction - Proactive
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Impact Reduction - Contingent Response
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Risk Response Planning Summary
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Risk Monitoring & Control
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Risk Monitor and Control Process
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Project Risk Monitoring
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Project Risk Control
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Risk Tracking Examples
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Course Conclusion
Class Size:
SOMOS experience has shown the optimal class size to be between 14 and 20 students. This enables proper interaction between the participants and the instructor.
Course Materials:
Course participants will be provided with the following materials:
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Licensed copy of Deltek Risk+ ™
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Course notes
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Exercise booklet
Deltek Risk+™ is a quantitative risk analysis tool (Monte-Carlo) that integrates with MS Project to analyze a project's cost and schedule risks.
Target Audience:
Project managers with experience in scheduling and planning or those called upon to perform project risk management.
Prerequisites:
Project scheduling experience or an introductory project management course is recommended.
Registration Information:
If you would like to discuss your organization's management development needs with a SOMOS account executive, please click here or call 613-592-5050 Ext 229.
Refer to course code 2TRM01 - Tools For Project Risk Management.