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Addressing Project Risks
April 17, 2023 @ 9:30 am - April 18, 2023 @ 5:00 pm
How to understand, predict and reduce risks for successful project outcomes no matter what your project size, even if you only ever run small projects or even if you’re part of a larger project team
Risks affect ALL projects, and “triggering” risks can quickly impact scope, cost, time, safety and more, sometimes with devastating consequences, that leave you directly in the crosshairs of blame..
So here you’ll learn all you need to know about addressing project risks and increasing project success in just six sessions and SIX practical exercises. Because skills come by doing, not viewing.
Why this is Different
Unlike other project risk courses, we go far deeper into the challenges of risk identification, analysis and management with case studies and alternative tools and techniques. All to give you a 360 understanding of modern day project risk management, without the need for complex formulae or mathematics.
What You Will Become
When you’re done with this course, you will fully understand the concepts of project risk management. You will have acquired the knowledge and skills necessary to identify and address risks, so raising the probability of success in your projects, all while demonstrating competence to senior corporate executives, board members and clients.
Here’s what we’ll cover on this two day classroom course…
|1 The World of Project Risks
|What is risk, risk versus uncertainty, positive and negative risks, risk over a project
lifecycle, qualitative and quantitative analysis. Risk terms and expressions, types and
categories of risk, three main points of risk. Demonstration of probability in the real world.
|Exercise 1 - Probabilities and Journeys through your Project
|2 Identification and Analysis
|Risk matrices, probability and impact, what MUST go on a risk register, the importance of
ownership, mitigation and contingency, inherent risk, consequential risk, strategies.
|Exercise 2 - Building Risk Registers for Your Project Journey
|3 The Cost of Success
|Calculating contingency costs, the project cost stack, A thru B analysis, expected
monetary value, Ishikawa diagrams, butterfly diagrams, case studies. Quantitative risks
and Monte Carlo analysis.
|Exercise 3 - Relative Risk Values and Contingency Costs
|4 Going Deep
|Advanced qualitative analysis, getting to aleatory risks through epistemological, ontological and latent risks. Other kinds of risk categorisation.
|Exercise 4 - Getting to the Point of Calculation
|5 Doomsday, Karma and Other Tools
|Alternative methods, doomsday and karma wheels, fitting risk into the project timeline, FEMA, advanced concepts, consequential risks, human factors.
|Exercise 5 - Introducing Timing to Risk Planning
|6 Dealing with Risks in Project Execution
|Risk management during project execution, handling triggers, stakeholder reporting. Going to Plan B. Essential communications.
|Exercise 6 - Addressing Risks as they Trigger
Please note that although every subject will be presented, the course instructor may decide to mody, or emphasise some topics to match the skill levels and expectations of the course attendees.