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Effective Risk Management Seminar
November 16, 2016 @ 8:30 am - 5:30 pmPhp5899.00
Managers seek to create an ordered path through the chaos of a fast-paced, constantly changing environment to achieve business success. They are expected to understand business objectives, develop and implement plans, measure progress against time, cost and business requirements, while balancing priorities among different and potentially conflicting stakeholder groups. Identifying, analyzing, and appropriately responding to risk in a proactive fashion, rather than waiting for the overwhelming avalanche of issues, is an essential skill of the professionally competent manager. This course provides a practical approach to managing risk and detailing and implementing an effective risk management plan.
The course offers a comprehensive look at the risk management process, including tips to apply it and traps to avoid based upon more than 700 lessons learned from actual projects. Throughout the course, the instructor explores how state-of-the-art concepts can be applied to project risk management. Using examples from actual projects, the course provides participants with practical, ready-to-use approaches for risk planning, identifying and analyzing project risk issues, developing risk handling strategies, and monitoring progress in implementing risk handling strategies.
By taking this course you will be able to:
- understand the major concepts of risk management.
- use appropriate tools to identify, analyze (both qualitatively and quantitatively) risks, and establish response plans. A wide variety of tools are introduced, covering all phases of the risk management process.
- analyze stakeholders and how their needs, expectations and relationship to the project organization affect the risks faced on the project
- develop strategies for responding to risk events
- establish procedures for effectively monitoring and controlling project risk
- determine and use reserves, and include them in the budget
- understand the use of contracts for managing certain types of risk
Anyone who is involved in deciding business strategies and activities, managing projects, or is otherwise responsible for delivering results within an organization, (e.g. CEO, CFO, project sponsor or project manager). There are no prerequisites for this course.
Risk Management Planning
- Key concepts
- Components of a risk management plan
- Relationship of risk management to the project life cycle
- Organizational impact of good/bad risk assessment
- Opportunities and threats
- Categories, sources and types of risk
- Information gathering techniques
- Identification tools and process
- Quantitative and qualitative tools and techniques
- Financial tools
- Filtering and Prioritizing risks
- Response strategies
- Use of contracts to manage risk
- Use of reserves
- Developing a response strategy
Risk Monitoring and Control
- Tools and process for monitoring and control
- Managing issues – materialized events
- Maintenance of the risk management plan
- Reassessing risk
- Risk Management as a team activity
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