Project Management

Preferred method of contact:

Risk Management for Projects, Programs and Operations



Course Number



4 Days

View Schedule

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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Course Schedule

Attend this live, instructor-led course In-Class or Online via AnyWare.

Hassle-Free Enrollment: No advance payment required.
Tuition due 30 days after your course.

May 9 - 12 AnyWare Enroll Now

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Live, Online via AnyWare

Jul 18 - 21 Alexandria, VA/AnyWare Enroll Now

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Sep 12 - 15 AnyWare Enroll Now

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Live, Online via AnyWare

Oct 24 - 27 Rockville, MD/AnyWare Enroll Now

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Live, Online via AnyWare

Nov 14 - 17 Herndon, VA/AnyWare Enroll Now

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Live, Online via AnyWare

Jan 16 - 19 Alexandria, VA/AnyWare Enroll Now

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Live, Online via AnyWare

Mar 6 - 9 AnyWare Enroll Now

How would you like to attend?

Live, Online via AnyWare

Guaranteed to Run

Bring this Course to Your Organization and Train Your Entire Team
For more information, call 1-888-843-8733 or click here






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 course exam on the last day of your course and receive a Certificate of Achievement with the designation "Awarded with Distinction."



Call 1-888-843-8733 or click here »

An experienced training advisor will happily answer any questions you may have and alert you to any tuition savings to
which you or your organization may be entitled.

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)
  • Make progress toward one or more Learning Tree Specialist & Expert 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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