Project Risk Management & Compliance

DAY 1

Risk Management Framework and Planning

Introduction

• Key definitions

• Project Management Body Of Knowledge (PMBOK) - 6 risk management processes

• Project risk management goal

• Purpose of risk management

• Benefits of risk management

• Responsibilities in risk management

• Integrating risk management into the project management process

• Components of risk

• Types of risk

• Six steps of risk management

  • Plan the approach to risk management

  • Risk Identification

  • Risk Assessment & Quantification

  • Risk Response Plan Development

  • Risk management plan execution

  • Evaluating risk response results

Risk Planning (Step 1)

• Plan the approach to risk management

• Planning inputs, tools & outputs

DAY 2

Risk Identification Processes

Risk Identification (Step 2)

• Identification inputs & tools

• Identification guidelines

• Risk identification techniques

• Risk categories

• Risk identification outputs

Review of Cost & Schedule Estimating in Relation to Risk

• Cost estimating classes & types

• Cost estimating methods

• Accuracy, allowances, contingency & management reserve

• Work Breakdown Structures (WBS)

• Schedule diagramming - critical path method (CPM)

• Resource management

• Earned value method (EVM)

• Baselining

DAY 3

Risk Assessment and Quantification Processes

Risk Assessment & Quantification (Step 3)

• Risk analysis inputs

• Risk analysis guidelines

• Probability analysis

• Impact analysis

• Risk analysis approaches - qualitative & quantitative

• Risk analysis tools & techniques

• Statistical sums in risk analysis

• Program Evaluation & Revue Technique (PERT)

• Monte Carlo simulation

• Decision trees

• Project risk rating & prioritizing

• Risk analysis outputs

DAY 4

Risk Response Plan Development

Risk Response Plan Development (Step 4)

• Risk response development inputs, tools & techniques

• Risk response strategy guidelines

• Response strategies for threats

• Response planning & network diagramming

• Response analysis

• Alternative responses

• Reserves - contingency & management

• Response planning outputs

DAY 5

Risk Response Control

• Risk management plan execution (Step 5)

• Risk response control tools

• Risk response control guidelines

• Risk strategy execution

• Evaluating risk response results (Step 6)

• Risk documentation