Project risk management is a key discipline that many project managers lack formal training in. Without proactive identification and mitigation of risks, projects often suffer delays, cost overruns, scope creep, and other issues. This course provides comprehensive project risk management education to drive project success.
Mastering risk management best practices delivers compelling benefits:
- Identify and assess threats to project objectives
- Reduce project disruptions through early risk mitigation
- Improve planning and monitoring with risk considerations
- Enable informed decision-making under uncertainty
- Build confidence managing project unknowns and variances
- Gain specialized skills to advance your PM career
With immersive training focused on real-world application, this course provides the frameworks, templates, and methodologies to effectively manage project risks. The skills are invaluable for both new and experienced project professionals.
Course Overview
This intensive course delivers interactive training in project risk management concepts, processes, and tools. Through hands-on lessons and simulations, learners gain expertise in risk identification, analysis, response planning, monitoring, and control.
With a focus on practical application, the curriculum provides opportunities to build and practice skills using real-world project examples and scenarios. Core modules align with global standards like PMI’s PMBOK® Guide.
The course equips learners with risk register templates, checklists, and strategies to proactively manage project uncertainties. Participants learn to apply risk processes to enhance planning, decision-making, and issue management. By the end of the training, learners can confidently implement a systematic project risk management methodology.
Who Should Take This Course
Both new and experienced project managers and coordinators. Fundamentals of project management knowledge is preferred.
What You’ll Learn
- Project risk management concepts, processes, tools
- Risk identification techniques and analysis methods
- Developing risk registers, response strategies, plans
- Qualitative and quantitative risk analysis
- Monitoring, controlling, and responding to risks
- Risk communication and reporting techniques
- Using risk management to enhance planning and oversight
Course Content
Foundations of Project Risk Management
- Defining project risk and uncertainty
- Outlining risk management processes, tools, techniques
- Understanding differences between risks and issues
- How risk management integrates with other PM knowledge areas
- Roles and responsibilities in project risk management
Risk Identification Techniques
- Leading risk identification workshops
- Using prompts, assumed risks, risk breakdown structures
- Leveragingchecklists based on categories
- Interviewing experts, project team, and stakeholders
- Researching project documents and lessons learned
Qualitative Risk Analysis
- Estimating probability, impact, and severity of risks
- Developing qualitative probability and impact scales
- Creating risk urgency assessment heat maps
- Prioritizing risks based on qualitative ratings
- Categorizing risks by urgency levels
Quantitative Risk Analysis
- Creating risk models using simulations
- Modeling project costs and durations with risks
- Using quantitative analysis methods like Monte Carlo
- Analyzing scenario plans and contingency reserves
- Comparing quantitative vs. qualitative outcomes
Risk Response Strategies and Planning
- Applying risk avoidance, acceptance, mitigation, transference
- Developing risk response strategies and plans
- Outlining risk triggers and target responses
- Assigning risk owners and due dates
- Estimating costs of mitigation plans
Risk Monitoring and Control
- Developing a risk management plan
- Tracking risks in a risk register
- Re-evaluating probability, impact, and priority regularly
- Responding to risks as triggers are met
- Identifying new risks throughout the project lifecycle
Risk Communication and Reporting
- Developing risk analysis results presentations
- Communicating plans in risk management plan
- Establishing risk reporting cadence and methods
- Escalating urgent risks appropriately
- Updating stakeholders with status reports
Frequently Asked Questions
What experience level is needed to take this course?
The course is designed for both new and experienced project professionals. Fundamentals knowledge is preferred.
What is the learning format and duration?
This course is delivered through interactive online or in-person training. The course is offered in 3, 5, and 10 days formats and training materials are adjusted accordingly.
Can multiple people from my company attend?
Yes, discounted group enrollments are available for multiple attendees.
Is pre-work required prior to the course?
No pre-work is required, but learners should review prerequisite materials provided.
How is the course kept up-to-date?
We regularly update content to reflect evolving risk management standards and best practices.