Risk Management in Projects and Programs
This course covers risk management processes and techniques in depth, exploring the systematic and iterative approaches that encompass risk planning, identification, qualitative analysis, quantitative analysis, response planning, and monitoring & control. The course addresses risk management principles consistent with the PMBOK. Techniques for building and applying a risk management toolkit are explored, as are methods to implement risk management programs within an organization.
At the end of the course, students will be able to:
Develop a comprehensive risk management plan for a project.
Identify risks in cause-risk-effect format using project assets such as the project charter, WBS, project plan, and historical records.
Qualitatively analyze risks to develop probability and impact ratings for risks.
Quantitatively analyze risks to determine time/cost probabilities and impacts and overall project reserves.
Apply expected value analysis and decision tree analysis to project scenarios and make recommendations based on these models.
Develop response plans for top-risks that include approaches to avoid, mitigate, accept, and transfer risks.
Analyze methods of risk audits and project risk reviews in order to gather data for, and communicate results of, risk monitoring and control practices.
Evaluate risk management tools currently on the market.
Communicate risk management process steps and results to colleagues.
Critique the results of risk management activities on a project.
Propose strategies for the organizational adoption of effective risk management practices.