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Risk Management for Projects, Programs and Operations

COURSE TYPE

Intermediate

Course Number

286

Duration

4 Days

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The ability to quantify and manage risks before and during a project is a key skill required of all project managers. In this training course, you learn how to identify, measure, and analyze risks in projects of all sizes and scopes, and how to ensure the success of your projects from beginning to end by quantifying and creating risk response strategies.

You Will Learn How To

  • Manage risk to deliver initiatives that meet stakeholder needs
  • Apply scalable templates for your initiative with Risk Management Plans, Risk Registers, and Risk Assessment Matrixes
  • Leverage a proven qualitative risk-analysis process to guide your risk management decisions

Important Course Information

Recommended experience:

  • Project management experience at the level of:
    • Course 296, Project Management: Skills for Success, or
    • Course 340, Project Management for Software Development

Course Outline

  • Overview of Risk Management
  • Recognizing risks in initiatives
  • Using risk management best practices, tools and techniques to achieve project success
  • Designing Critical Platforms for Success

Creating a Risk Management Plan (RMP)

  • Analyzing contents of a model RMP
  • Applying a standard template to create your RMP

Identifying initiative risk

  • Common sources of initiative risk
  • Utilizing checklists
  • Creating Ishikawa diagrams to analyze cause and effect
  • Assessing high-level risks to the organization

Developing a Risk Register

  • Analyzing contents of a model Risk Register
  • Applying a proven template to create your Risk Register
  • Communicating risks to stakeholders
  • Documenting risks for future assessment
  • Improving Initiative Performance through Qualitative Analysis

Analyzing risks through qualitative measures

  • Performing probability and impact analyses
  • Applying the probability and impact matrix
  • Advanced applications of qualitative analysis

Prioritizing analysis results

  • Ranking project and operations risks
  • Differentiating between acceptable and unacceptable risks
  • Analyzing Risks Using Quantitative Methods

Quantifying effects of risk events on projects and operations

  • Determining probability of cost and time objectives
  • Calculating contingency reserves
  • Identifying trends in quantitative analysis
  • Ranking risks by actuarial cost

Tools for analysis

  • Expected Monetary Value (EMV)
  • Three-point estimates
  • Probability distributions
  • Delphi Technique
  • Simulation
  • Risk Response Planning

Implementing risk response strategies

  • Accept
  • Avoid
  • Transfer
  • Mitigate
  • Exploit
  • Share
  • Enhance
  • Quantifying residual risks and secondary responses

Creating contingency plans

  • Determining the worst-case scenario
  • Recalculating confidence levels
  • Finalizing risk budget
  • Applying a seven-step process to risk response planning
  • Making Decisions under Uncertainty

Psychological factors in decision-making

  • Practical applications of Prospect Theory
  • Recognizing bias with Utility Theory

Tools to enhance objectivity

  • Maximizing returns through the use of payoff tables
  • Dealing with unknown risks using workarounds
  • Monitoring and Controlling Risk

Identifying emerging risks

  • Matching identified initiative risk with controls including Risk Audit, Variance Reports and Reserve Analysis
  • Anticipating risk events through risk triggers
  • Measuring risk using earned value analysis (EVA)

Ensuring effective change control

  • Developing a reliable change request process
  • Recommending corrective action
  • Leveraging Project and Operations Experience
  • Compiling lessons learned in a risk database
  • Ensuring continual process improvement
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Convenient Ways to Attend This Instructor-Led Course

Hassle-Free Enrollment: No advance payment required to reserve your seat.
Tuition due 30 days after you attend your course.

In the Classroom

Live, Online

Private Team Training

In the Classroom — OR — Live, Online

Tuition — Standard: $2990   Government: $2659

Oct 24 - 27 (4 Days)
9:00 AM - 4:30 PM EDT
Rockville, MD / Online (AnyWare) Rockville, MD / Online (AnyWare) Reserve Your Seat

How would you like to attend?

Live, Online
In-Class

Nov 14 - 17 (4 Days)
9:00 AM - 4:30 PM EST
Herndon, VA / Online (AnyWare) Herndon, VA / Online (AnyWare) Reserve Your Seat

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Live, Online
In-Class

Jan 16 - 19 (4 Days)
9:00 AM - 4:30 PM EST
Washington, DC / Online (AnyWare) Washington, DC / Online (AnyWare) Reserve Your Seat

How would you like to attend?

Live, Online
In-Class

Mar 6 - 9 (4 Days)
9:00 AM - 4:30 PM EST
Toronto / Online (AnyWare) Toronto / Online (AnyWare) Reserve Your Seat

How would you like to attend?

Live, Online
In-Class

Apr 24 - 27 (4 Days)
9:00 AM - 4:30 PM EDT
Rockville, MD / Online (AnyWare) Rockville, MD / Online (AnyWare) Reserve Your Seat

How would you like to attend?

Live, Online
In-Class

May 15 - 18 (4 Days)
9:00 AM - 4:30 PM EDT
Herndon, VA / Online (AnyWare) Herndon, VA / Online (AnyWare) Reserve Your Seat

How would you like to attend?

Live, Online
In-Class

Jul 17 - 20 (4 Days)
9:00 AM - 4:30 PM EDT
Washington, DC / Online (AnyWare) Washington, DC / Online (AnyWare) Reserve Your Seat

How would you like to attend?

Live, Online
In-Class

Sep 4 - 7 (4 Days)
9:00 AM - 4:30 PM EDT
Toronto / Online (AnyWare) Toronto / Online (AnyWare) Reserve Your Seat

How would you like to attend?

Live, Online
In-Class

Guaranteed to Run

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Private Team Training

Enrolling at least 3 people in this course? Consider bringing this (or any course that can be custom designed) to your preferred location as a private team training.

For details, call 1-888-843-8733 or Click Here »

Tuition

Standard

Government

In Classroom or
Online

Standard

$2990

Government

$2659

Private Team Training

Contact Us »

Course Tuition Includes:

After-Course Instructor Coaching
When you return to work, you are entitled to schedule a free coaching session with your instructor for help and guidance as you apply your new skills.

After-Course Computing Sandbox
You'll be given remote access to a preconfigured virtual machine for you to redo your hands-on exercises, develop/test new code, and experiment with the same software used in your course.

Free Course Exam
You can take your Learning Tree course exam on the last day of your course or online at any time after class and receive a Certificate of Achievement with the designation "Awarded with Distinction."

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Training Hours

Standard Course Hours: 9:00 am – 4:30 pm
*Informal discussion with instructor about your projects or areas of special interest: 4:30 pm – 5:30 pm

FREE Online Course Exam (if applicable) – Last Day: 3:30 pm – 4:30 pm
By successfully completing your FREE online course exam, you will:

  • Have a record of your growth and learning results
  • Bring proof of your progress back to your organization
  • Earn credits toward industry certifications (if applicable)

Enhance Your Credentials with Professional Certification

Learning Tree's comprehensive training and exam preparation guarantees that you will gain the knowledge and confidence to achieve professional certification and advance your career.

Earn 23 Credits from NASBA

This course qualifies for 23 CPE credits from the National Association of State Boards of Accountancy CPE program. Read more ...

Earn 23 PDUs


PMI, the Registered Education Provider logo, PMP, CAPM, PMI-ACP,
and PMBOK are marks of the Project Management Institute, Inc.

This course is approved by PMI® for 23 professional development units (PDUs). For more on the Project Management Institute and a full list of courses approved for PDUs.

Technical : 13 PDUs
Business & Strategic : 10 PDUs

Read more ...

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