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Course Outline

The basic foundations of project risk management Download Course Brochure
  • Definition and characteristics of “risk”
  • Elements and factors of risk
    - Event (future occurrence)
    - Probability (uncertainty)
    - Impact (amount at stake)
  • Types of risk
  • Components of risk management
    - Identification
    - Quantification
    - Response development
    - Response control

Risk management planning and identifying risks

  • Risk management planning
  • Risk identification
  • Idea generation tools and techniques

Analysis fundamentals

  • Probability and impact
  • Presenting risk
    - Narrative
    - Qualitative
    - Quantitative
  • Probability analysis

Analysing and prioritising risk

  • Determining risk tolerances
  • Analysing risks
  • Establishing and evaluating profitability
  • Risk-based financial tools and techniques
  • Expected-value analysis
  • Decision trees
  • Prioritising risks

Planning for risk

  • Risk response strategies for opportunities and threats
  • Risk acceptance
  • Risk avoidance
  • Risk mitigation
    -Probability minimisation
    -Impact minimisation
  • Transference
  • Establishing reserves

Execution, evaluation and update

  • Risk response control
  • Execute risk strategies
  • Contingency plans and workarounds
  • Risk evaluation
  • Reassessing risk
  • Risk documentation
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