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Course Title:

Course ID:

050224 0101 935ESH

Course Dates :

05/Feb/2024

 To

09/Feb/2024

Course Duration :

5

Course Location:

London

United Kingdom

Course Fees GBP £ :

Primary Price

£4,555.99

VAT may vary depending on the country where the course or workshop is held

Course Fees USD $:

Advisory Price

$5,829.09

VAT may vary depending on the country where the course or workshop is held

Course Category:

Professional and CPD Training Programs

Project Management

Course Certified By:

* Professional Training and CPD Programs
Leading to : Executive Diploma Certificate
Leading to : Executive Mini Masters Certificate
Leading to : Executive Masters Certificate

* ESHub CPD
* LondonUni - Executive Management Training
* Others

United Kingdom

Please Note : Your £250.00 Deposit will be deducted from the total invoice Amount.
To commence the registration process for your training course, please follow the link provided and proceed with; Upon successful payment, we will promptly contact you to finalize your enrollment and issue a confirmation of your guaranteed placement.

Course Information

Introduction

All projects involve risk. To quantify and manage risks, you need to thoroughly analyze risk before and during a project. Aligned with the PMI Risk Management Professional (PMI-RMP)® certification, this course provides the skills to identify and measure risks in project development and implementation. You learn to quantify risks and create risk response strategies to deliver projects that meet stakeholder expectations.

Objectives

You perform risk management tasks including:

• Creating your RMP from a proven model
• Developing and updating a Risk Register through a systematic incremental process
• Quantifying risks according to EMV, Utility and impact on estimates
• Designing a risk response strategy
• Detecting and responding to risk events using EVA
• Justifying budget and time contingencies
• Updating your risk database and determining process improvements

Who Should Attend?

The PMI-RMP® course is best suited for:

• Project Managers
• Line Managers
• Aspiring Project Managers and Program Managers
• Risk Management Consultants

Training Method

• Pre-assessment
• Live group instruction
• Use of real-world examples, case studies and exercises
• Interactive participation and discussion
• Power point presentation, LCD and flip chart
• Group activities and tests
• Each participant receives a 7” Tablet containing a copy of the presentation, slides and handouts
• Post-assessment

Program Support

This program is supported by:
* Interactive discussions
* Role-play
* Case studies and highlight the techniques available to the participants.

Daily Agenda

The course agenda will be as follows:
• Technical Session 08.30-10.00 am
• Coffee Break 10.00-10.15 am
• Technical Session 10.15-12.15 noon
• Coffee Break 12.15-12.45 pm
• Technical Session 12.45-02.30 pm
• Course Ends 02.30 pm

Please Note : Your £250.00 Deposit will be deducted from the total invoice Amount.
To commence the registration process for your training course, please follow the link provided and proceed with; Upon successful payment, we will promptly contact you to finalize your enrollment and issue a confirmation of your guaranteed placement.

Week 1

Day One

Overview of Project Risk Management
• Recognizing risk in all projects
• Using risk management best practices, tools and techniques to achieve project success
Designing Critical Platforms for Success Creating a Risk Management Plan (RMP)
• Analyzing contents of a model RMP
• Applying a standard template to create your RMP Identifying project risk
• Common sources of project risk
• Creating Ishikawa diagrams to analyze cause and effect relationships
• Utilizing checklists
• Assessing high-level risks to the organization
Developing a Risk Register
• Analyzing contents of a model Risk Register
• Applying a proven template to create your Risk Register
• Communicating risks to stakeholders
• Documenting risks for future assessment

Day Two

Improving Project Performance through Qualitative Analysis Analyzing risks through qualitative measures
• Performing probability and impact analyses of identified risk
• Applying the probability and impact matrix
• Advanced applications of qualitative analysis Prioritizing analysis results
• Ranking project risks
• Differentiating between acceptable and unacceptable risks
Analyzing Risks Using Quantitative Methods Quantifying effects of risk events on the project
• Determining probability of achieving cost and time objectives
• Calculating contingency reserves
• Identifying trends in quantitative analysis
• Ranking risks by actuarial cost
Tools for analysis
• Expected Monetary Value (EMV)
• Three-point estimates
• Probability distributions
• Delphi Technique
• Simulation

Day Three

Risk Response Planning Implementing risk response strategies
• Accept
• Avoid
• Transfer
• Mitigate
• Exploit
• Share
• Enhance
• Quantifying residual risks and secondary responses
Creating contingency plans
• Determining the worst-case scenario
• Recalculating confidence levels
• Finalizing risk budget
• Applying a 7-step process to risk response planning

Day Four

Making Decisions under Uncertainty Psychological factors in decision making
• Practical applications of Prospect Theory
• Recognizing bias with Utility Theory Tools to enhance objectivity
• Maximizing returns through the use of payoff tables
• Applying decision trees with Precision Tree software
• Dealing with unknown risks using workarounds

Day Five

Monitoring and Controlling Risk Identifying emerging project risks
• Matching identified project risk with controls including Risk Audit, Variance Reports, Reserve Analysis
• Anticipating risk events through risk triggers
• Measuring risk using earned value analysis (EVA)
Ensuring effective change control
• Developing a reliable change request process
• Recommending corrective action
Leveraging Project Experience
• Creating an end-of-project risk report
• Compiling lessons learned in a risk database
• Recognizing the value of mistakes
• Ensuring continual process improvement

Please Note : Your £250.00 Deposit will be deducted from the total invoice Amount.
To commence the registration process for your training course, please follow the link provided and proceed with; Upon successful payment, we will promptly contact you to finalize your enrollment and issue a confirmation of your guaranteed placement.