Project Management - How to Risk Management Plan

Description

Embark on a transformative journey led by Jamal, a seasoned project management consultant with over 25 years of experience, as he shares his wealth of knowledge in risk management planning. Benefit from his extensive expertise in conducting risk exercises on major projects, enabling you to navigate the complex landscape of project risks with confidence.

Begin with a comprehensive overview of the project manager's responsibilities and the pivotal role of the risk management plan within the broader project plan. Explore the fundamental concepts of project risk, emphasizing key approaches to risk management, including risk identification, risk assessment, risk responses (mitigation, acceptance, transference, and avoidance), and risk monitoring.

Delve into a wide range of potential risks that projects may encounter, such as budget/funding constraints, schedule uncertainties, scope changes, technical challenges, human resource issues, hardware limitations, contractual concerns, political influences, and business, legal, and environmental factors.

Explore various risk identification techniques, including brainstorming, Delphi and Nominal Group methods, as well as interviews and checklists. Gain insights into the domain of risk analysis, where qualitative techniques such as Probability Impact Matrix and Risk Ranking tables are employed. Additionally, delve into quantitative risk analysis methodologies, including the Three Point Estimate, Decision Tree Analysis, and Expected Monetary Value (EMV) approaches.

Furthermore, examine four traditional risk response mechanisms: mitigation, acceptance, transference, and avoidance. Understand the significance of each response strategy and learn how to apply them effectively based on the nature and severity of the identified risks.

Concluding the course, you will explore risk triggers—critical events or circumstances that may activate specific risks. Gain a deep understanding of how to identify and respond to these triggers, enhancing your ability to proactively manage risks throughout the project lifecycle.

Join Jamal on this enlightening journey and master the art of risk management planning. Enroll now and gain the skills needed to mitigate uncertainties, seize opportunities, and ensure project success.

What You Will Learn!

• Discussion of PM responsibilities with respect to Risk Management
• Analysis of the project risk management process
• Purpose of the Risk Management Plan
• Discussion of all the required components of the Risk Management Plan with multiple real-life examples

Who Should Attend!

• You are a project manager who runs medium to large-size projects
• You are a business analyst who is responsible for interactions with stakeholders on medium or large-size projects
• You are a technical resource who is planning on participating in a project

TAKE THIS COURSE