Managing Project Risks (P748)

Avoid Pitfalls and Turn Problems into Opportunities

This course is available for scheduling upon request. Please contact Sophie at 613-234-2020, ext. 21 for more information.Being able to manage project risks is now recognized as a necessary and important aspect of project management. Risk management looks at systematic ways to identify and mitigate risk; and to communicate the concepts of and significance of risk to stakeholders.Although risk is defined as an uncertain event or condition that may have a positive or negative impact on a project’s objectives, we generally view risk as negative, and we prepare mitigation plans and strategies. It is, however, important to recognize that occurrences of uncertain events may at times present opportunities as well. By being ready to exploit these opportunities should they occur, we can often reap significant benefits.At this interactive workshop, you will work through a complete risk management planning cycle following recognized best practises to identify risks, conduct a risk analysis, formulate and evaluate risk responses, and monitor risk occurrences.Team exercises will focus on demonstrating the application of the theory which has been learned, and rotating peer reviews will be conducted. In this way, you’ll benefit from others’ viewpoints, and get an opportunity to practice your teaming skills while learning about the application project of Risk Management. The learning environment is structured, but informal. You’ll leave this course with the confidence that you can apply your new skills to your projects immediately.Recommended pre-requisite: Project Management 101.Risks are defined to a great extent by the individuals, groups and organizations involved in the project or effected by its results. Consequently, it is recommended that participants also take the Managing Project Stakeholders course.This is a one-day workshop in Ottawa.


Learning Outcomes

By the end of this seminar, you will be able to:

  • Understand and use risk management terminology consistent with those of the Project Management Institute (PMI)
  • Value the importance of including risk management in project planning and execution
  • Facilitate team discussions to identify project risks
  • Analyze and prioritize risks using a variety of techniques
  • Select risk responses using a template as a guide
  • Know how to monitor risk events
  • Learn about techniques such as Monte Carlo in dealing with schedule risks
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Workshop Topics

Risk Management Planning Risk Identification Risk Analysis Risk Response Planning Risk Monitoring and Control Risk Contingency Budgeting

Who Should Attend This Course?

• New project managers or project leads • Experienced project managers or project leads who need a refresher • Project team members, especially those who aspire to project management responsibilities • Project team members who have risk management roles • Project team members who have communications roles • Project sponsors

Does this Course Address your Competency Development Needs?

This training workshop addresses:• Achievement / Results Orientation • Adaptability / Flexibility • Analytical Thinking • Change Management and Leadership • Communication • Decision Making / Decisiveness • Dealing with Difficult Situations • Document and Digital Technology • Engagement and Motivation • Innovation and Initiative • Interpersonal Relations • Leadership • Management Excellence • Planning / Organizing • Problem Solving • Project Management • Reading Skills • Research, Analysis and Evaluation • Risk Management • Strategic Thinking • Teamwork and Cooperation • Working with Data and Numbers