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Wisconsin School of Business

Managing Project Risks

Oct 14—16
3 days
Madison, Wisconsin, USA
USD 2495
USD 831 per day
May 18—20, 2020
3 days
Madison, Wisconsin, USA
USD 2495
USD 831 per day

How it works

Description

Risk is a given in any project, and the better you understand how to identify and prepare for it, the more likely you are to minimize your exposure to it.

In this course you’ll learn and practice a systems approach and process for identifying, analyzing, planning, and controlling risk. You’ll also learn how to incorporate your risk management plan into the overall project plan and create options for executives when scheduled completion dates or budget targets are affected.

Prerequisite: Participants should be familiar with Work Breakdown Structure and Critical Path Methods before taking this course.

How You Will Benefit

  • Use a systems approach for identifying, assessing, and managing risks
  • Determine the how and when of managing risks
  • Use a work breakdown structure (WBS) in the risk management process
  • Apply risk identification techniques to your projects
  • Integrate risk management into the project plan

Agenda

Day 1: Risk management road map

  • Understanding what constitutes risk and why it’s important
  • Determining the critical success factors for managing risk
  • Identifying common sources of project risks
  • Using a WBS in identifying risks
  • Getting information about risks from stakeholders
  • Using a risk profile
  • Identifying project risks (exercise)

Day 2: Risk analysis and assessment

  • Using earn value management (EVM)
  • Analyzing and assessing project risks
  • Using risk assessment criteria
  • Prioritizing the risk and defining risk tolerances
  • Identifying “showstoppers”
  • Determining the probability and impact of risks
  • Determining the warning signs for risk
  • Assessing project risks (exercise)

Day 3: Controlling and managing project risks

  • Tracking and monitoring risk
  • Using risk response control
  • Managing the risk mitigation plan
  • Reducing the impact of a “showstopper”
  • Modifying the project to deal with risk
  • Documenting risk management and using the knowledge
  • Evaluating the project risk management process
  • Controlling the impact of risks on a project (exercise)

Schedule

Day 1 – Includes breakfast, lunch, breaks, and dinner

  • Check-In and Breakfast 7:30–8:15 a.m.
  • Course 8:15 a.m.–5 p.m.
  • Dinner 4:30–10 p.m.

Day 2 – Includes breakfast, lunch, breaks, and dinner

  • Breakfast 7:30–8:15 a.m.
  • Course 8:15 a.m.–5 p.m.
  • Dinner 4:30–10 p.m.

Day 3 – Includes breakfast, lunch, and breaks

  • Breakfast 7:30–8:15 a.m.
  • Course 8:15 a.m.–5 p.m.
  • Dinner 4:30–10 p.m.

Who should attend

This course will improve the presence and impact of anyone who aspires to a leadership position in program and project management.

PMBOK® Guide Knowledge Areas Covered in This Course Time management, cost management, scope management, quality management, risk management, and procurement management.

Experts

Tom has experience in project management, product development, enterprise project management, organizational management, IT training, and IT systems implementation. He founded and served as CEO of Project Solutions Group, a project management and training consultancy. His clients have included M...
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