course | Advanced Risk Management

Section 1: Introduction
 

• Personal Risk Profile
• Origin of project risk
• Project success factors
• The risk management value proposition

Section 2: Basic Concepts                    
 

• Threat and opportunity
• Relationship between issues and risks
• Risk at three levels: project, business, and project value
• Project planning helps to manage risk
• The work of Risk Management
• Budgeting for Risk Management

Section 3: Planning for Risk Management
 

• Identifying risk stakeholders
• Risk tolerance; Risk appetite
• Engaging stakeholders in risk management
• Proactive vs. reactive risk planning
• Developing a Risk Management Plan

Section 4: Risk Identification
 

• Sources of risk
• Tools for risk identification
• Composing a risk statement
• Introduction to the Comprehensive Risk Register
• Full characterization of project threats and opportunities

Section 5: Risk Analysis
 

• Characterizing risk: impact, probability, and detectability
• Risk analysis data
• Establishing risk scores: the Risk Matrix
• Risk ranking and Heat Maps
• Risk triggers
• Determining root cause

Section 6: Identifying and Analyzing Threats
 

• Threat identification
• Screening threats with qualitative analysis
• Methods for estimating impact
• Threat prioritization
• Extended analysis: risk categorization, timing, urgency
• Quantitative methods: Estimating impact on cost, time, and labor hours
• Unavoidable costs
• Measuring risk exposure

Section 7: Threat Response Planning
 

• Proactive and reactive responses to Threats
• Decision analysis: Choosing the best strategy
• Cost-effectiveness of response plans
• Assessing and managing secondary and residual risk
• Creating contingency plans
• Building a Contingency Reserve
• Cost of threat management: Pay now or pay more later
• Threat Management Strategy

Section 8: Understanding Opportunity
 

• Value of opportunity
• Two kinds of opportunity
• Why are opportunities missed
• Enhanced model of risk

Section 9: Identifying and Analyzing Opportunity
 

• Tools for finding opportunities
• Screening opportunities with qualitative analysis
• Opportunity prioritization
• Quantitative methods: Impact on cost, time, and labor hours
• Including opportunity in the measurement of risk exposure

Section 10: Opportunity Response Planning
 

• Proactive and reactive responses to Opportunities
• Cost-effectiveness of response plans
• Assessing and managing secondary and residual risk
• Contingency plans and the contingency reserve
• The budget for managing opportunities
• Opportunity Management Strategy
   

Section 11: Risk Monitoring and Control
 

• Watching for changes to the risk landscape
• Responding to risk events
• Reporting risk status
• Tracking reserves
• Managing Risk to Business Value
• Risk audits