Overview

Traditionally majority of project decisions heavily favored cost and schedule. Alarming rate of project failure resulted in realization of requirement for risk management competency for project managers and their respective team members. Risk management involves minimizing the consequences of adverse events as well as maximizing the result of positive events. This course attempts to identify the requirements for project risk management. This leads to the development of a risk management roadmap, which will underpin the design and implementation of an intelligent risk mapping system. The outcome from this course will facilitate course participants to effectively manage project risk and contribute towards successful project management in their respective organization.

Duration

2 Days

Who Should Attend

This workshop is designed for executive and middle management level of project organizations that managing, preparing or aspiring to manage large-scale, strategic or complex projects who wishes to strengthen their project management skill sets.

Objectives

By the end of the session, you would be able to:

  • Define fundamental principles of risk management.
  • Explain the benefits of effective risk management and the implications of poor risk management.
  • Identify project risk.
  • Conduct basic project risk analysis.
  • Develop preliminary project risk response plan.
  • Determine key principles to monitor and control project risk.
  • Explain fundamental requirements for effective risk governance.
  • Develop personal action plan to apply the skill acquired at workplace.

Course Outlines

Fundamental Principles Risk Management

  • Definition of risk
  • Iterative risk management process

Benefit of Effective Risk Management

  • Proactive project management
  • Optimization of opportunities
  • Mitigation of threat

Implication of Poor Risk Management

  • Reactive project management
  • Increased probability of project failure

How to identify project risk?

  • Input required for effective risk identification
  • What is a well defined risk?
  • Common risk identification methods.
  • Common risk documentation methods
  • Risk register
  • Risk identification : case study

How to Perform Risk Analysis?

  • Qualitative and quantitative risk analysis
  • Assumption testing
  • Data quality assessment
  • How to determine probability and impact?
  • Risk ranking
  • Risk register updates
  • Expected monetary value of risk.
  • Risk Analysis : case study

How to Plan Risk Response?

  • Inputs required for effective risk response.
  • Risk response strategies for threat
  • Risk response strategies for opportunities
  • Residual risk
  • Secondary risk
  • Triggers
  • Contingency planning
  • Fallback planning
  • Contingency reserve
  • Management reserve
  • Plan Risk response : case study

How to Monitor and Control Risk?

  • Objectives of monitor and control risk
  • Workarounds
  • Risk audit
  • Earned value analysis
  • Risk Reassessment
  • Key activities of monitor and control risk process.
  • Outputs of monitor and control risk process
  • Monitor and control risk : case study
  • Module 8: Personal Action Plan
  • How to translate your knowledge and skill into action (within your circle of influence) 

Inhouse Training Framework - ADDIE Model

In GIN, we will work with you to modify courses or develop one to meet the specific requirements of your business. To assure your investment on training is not wasted and to maximize the value of the in-house program, we apply the ADDIE model – a dynamic, flexible guideline for building effective training and performance support tools. You may learn more about ADDIE model here.

Contact Us for Quotation

Contact us now for training at the Venue and Date of your choice throughout Malaysia and Internationally. Do let us know what is your expectation, number of participants, participants' profile and your preferred date and venue.