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Project Risk Management

Duration

5 hours

Overview

Audience

This course is suitable for anyone who needs to develop an understanding of Project Risk Management principles aligned to the PMBOK® Guide-Sixth Edition.

Prerequisites

Successful completion of the “Introduction to Project Management and PMBOK® Guide-Sixth Edition” module.

Objectives

    After completing this course, the student will be able to:
  • Interpret the results of a qualitative and quantitative risk analyses
  • Identify possible sources of risk and list analysis techniques for use in risk identification
  • Analyze identified risks and determine the best method to manage them
  • Assess the profitability of a potential project and apply methods to evaluate whether a project is worth undertaking
  • Apply qualitative and quantitative risk analysis techniques in a project situation
  • Interpret the results of a qualitative and quantitative risk analyses
  • List tool and techniques for quantitative risk analysis and quantitative probability risk analysis
  • Apply the Monte Carlo simulation technique and interpret the resulting three-element model and risk range
  • Identify probabilistic network situations and modifications required to risk analysis techniques to accommodate them
  • Identify inputs into the Plan Risk Response process
  • List risk responses which can be used to overcome or minimize negative risks
  • List risk responses which can be used to enhance and increase the likelihood of positive risks
  • Select appropriate risk control tools and techniques for use

Course Content

Introduction to Risk Management

Introduction
Types of Risk

Risk Analysis and Management

Internal/External Risks
Risk Analysis and Management
Initial Decisions

Evaluating Project Investment Risks

Initial Decision
Discounted Cash Flow
Risk Factors
Decision Making Methods

Performing Qualitative and Quantitative Risk Analysis

Project Strategies
Qualitative Risk Analysis
Decision Trees

Quantitative Risk Analysis and Modeling Techniques

Risk and the Project Plan
Monte Carlo Simulation
Quantitative Risk Analysis
Quantitative Probability Risk Analysis
Probabilistic Networks

Plan and Control Risk Responses

Perform Risk Analysis Output
Plan Risk Response Strategies
Monitor Risks

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