Risk Management

Understand why threats and opportunities are part of all projects and that the risks structured perception improves projects’ outcomes.

To qualify the students in the strategic risks management, presenting the main mechanisms for the risk identification, quantification, responses development and control.

The course also aims to contextualize the risks in the projects environment, providing tools and simulators that are used in their management.

Scope of work

At the end of the course the student will be able to:

  • Understand the double risks nature (threats and opportunities)
  • Establish practical mechanisms to control the risks involved in a project
  • Complete the risks’ basic details
  • Use the 7 techniques for the risks identification
  • Qualitatively analyze and prioritize the risks
  • Simulate time and cost results through Monte Carlo Simulation
  • Calculate the probability and estimate the risks impacts
  • Plan and calculate the contingency reserves and the management reserves
  • Scale different responses to the threats and opportunities
  • Monitor the risks and establish responses effective "triggers"

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Fact sheet

Estimated duration [?]

16 hours

Number of participants

Minimum 20 students per class

Target audience

Project managers, risks managers, project team members, planners, and others stakeholders interested in the risk management process.

Requirements

None

Languages [?]

Portuguese, English and Spanish

Venue

Provided by the contractor. Worldwide attendance.

Certification and PDUs [?]

16 All attendees will receive a certificate with this number of PDUs.

  • 1. The context of Risk Management
    • Basic characteristics of risks
    • The effects of risks in the project
    • The need to effectively manage the project risks
    • The context of risk management inside a project environment
  • 2. The Project Phases
    • The 5 project phases
    • The overlapping of project phases in the PMBOK
    • The interference of the phases in the project risk management
    • The 47 processes that constitute the PMBOK Guide – 5th Edition
  • 3. The Project Risk Management processes
    • Risk Management Planning
    • Risk Identification
    • Qualitative Risk Analysis
    • Quantitative Risk Analysis
    • Risk Response Planning
    • Risk Monitoring and Control
  • 4. Risk Identification and Categorization
    • Subject matter experts interviewing
    • Brainstorming
    • Delphi Technique
    • Nominal Group Technique (NGT)
    • Crawford Slip
    • Analogy
    • Checklist, Surveys and templates
    • Risk Breakdown Structure
    • Affinity Diagram
  • 5. Risk Qualification, Quantification and Classification
    • The different approaches to risks
    • Probability
    • Expected Monetary Value
    • Probability Trees
  • 6. Risk Response Planning
    • Factors that may influence the risk responses
    • Mitigate
    • Transfer
    • Acceptance
    • Avoid
    • Insurances
    • Management and contingency reserves

Supported standards and methodologies

Project Management Institute (PMI)
  • PMBOK® Guide
  • PMI Practice Standard for Risk Management
  • PMI Practice Standard for Scheduling