Managing Project Risk [ONLINE]

This 2-day course explores quantitative and qualitative techniques to identify and analyze project risk factors (risk event, event probability, and event impact). A variety of risk response choices are discussed, and risk identification and risk response are practiced in workshop groups. Quantitative techniques are applied to problems, but don’t worry, advanced mathematics is not used!

LEARNING OBJECTIVES

Participants will gain practical skills to:

• Apply a common framework of project risk management of the Project Management Institute.
• Value the importance of including risk management in project planning and execution.
• Facilitate team discussions to identify project risks and opportunities, and formulate risk responses.
• Use expected monetary value.
• Describe other techniques such as decision trees, Delphi method, and Monte Carlo simulation, and when they are applicable.
• Analyze risks and select response strategies appropriate to priorities and organization risk tolerances.

WHO SHOULD ATTEND

The Managing Project Risk course is appropriate for individuals who are:

• Project Managers and team members who already work in a well established project management environment but wish to improve their project risk management processes.
• Members of a project team looking to “jump-start” their risk management on a new and risky project.

WHAT YOU WILL LEARN

Introduction

• Risk factors
• Workshop - lessons learned

Risk Management Process

• Risk identification
• Workshop - stakeholders
• Risk classification systems
• Workshop - risk identification
• Risk quantification
• Risk tolerance
• Workshop - risk tolerance
• Risk response development
• Avoidance, mitigation
• Transfer, acceptance
• Contingency in budget
• Contingency in schedule
• Contingent response
• Workshop - risk responses
• Risk management plan

Risk Tools

• Facilitative tools
• Video & discussion - groupthink
• Workshop - affinity diagram
• Probability & statistics
• Monte Carlo simulation
• Software demonstration (Risk +)
• Expected monetary value
• Exercise - payoff tables
• Decision trees
• Exercise - decision tree
• Critical path network
• Workshop - candidate responses

Wrap-Up

• Exercise - project environments
• Wrap-up

Instructor: Ori Schibi, MBA, PMP, PMI-PBA, PMI-ACP, Cert.APM, SMC, CMP

Ori Schibi has 27 years’ experience providing practical new ways of managing projects and programs and effectively dealing with challenges around organizational change, strategy, business analysis and PMOs. His experience includes driving process efficiencies, software implementations, project recoveries, project management skills assessments and complex programs that stabilize business, create growth and value and lead sustainable change.

He has long and solid agile experience – including assessing organization’s readiness for agile projects, helping organizations select the right lifecycle approach, aligning agile projects with corporate governance structures, coaching team members, leading agile transitions and adaptations and driving value through leading agile projects. Ori is well-versed in several agile methods, with focus on discipline agile delivery, and teaches for a variety of in-house clients, as well as for OPS, University of Toronto and the City of Toronto.

https://procept.com/team/ori-schibi

Host or Publisher Goodman School of Mines