Risk Management Essentials

Project Managers with responsibility for the implementation and operation of the management of risk.

Team Managers and Specialists who are likely to contribute to an effective risk management process.

Management of risk is critical to project success. Identifying risk is all about addressing areas of uncertainty that may affect the project outcome. Uncertainty can express itself in varying ways e.g. range of costs, durations, differing pathways dependant on the outcome of certain assumptions and results. Risks should be identified, analysed and consideration given to reducing their impact to a tolerable level.

This FOCUS course is a customer specific on-site event

A one day version can also be delivered.

To provide delegates with an understanding of the essential principles of risk management including the identification, classification and on-going planning and management of risk in projects.
 

This course will enable delegates to:
• Understand the key principles underpinning the analysis and ongoing management of risk
• Understand the difference between risks and issues
• Describe the main components of a risk management process
• Appreciate the relationship between risks at the Strategic, Programme, Project and Operational level
• Investigate the nature of the risks facing their business
• Assess risks and their potential consequences
• Select appropriate countermeasures

Basic Principles
- Defining the approach
- The importance of culture

Risk Identification
- The difference between issues and risks
- The risk lifecycle
- Assessment of the impact on the project / organisation

Responding to risk
- Understanding response options
- Implementation of countermeasures

On-going risk management and review
- Risk responsibilities
- Review
- Communications

This is an interactive workshop rather than a one way training course.  A case study will be used to illustrate the principles covered.  There will be a number of “break out” exercises allowing delegates to practise the application of key learnings.