Risk Management
 

Overview

Participants will build their skills and knowledge in managing risk, both as an integral part of project management and for wider applications.

The course provides a structured process for identifying, analysing, assessing, managing/mitigating and monitoring all types of risk. Participants will be introduced to a range of models and control mechanisms.

Content

Introduction

• Setting the context
• What is risk management?
• How does risk impact business operations?

  
Risk management in context

• Legal aspects of risk
• Outsourcing risk
• Joint Ventures and partnerships
• Offsetting risk through contractual arrangements and insurance
• Project Risk Management Plans

   
Risk identification, analysis, assessment and monitoring

• Risk assessment
• Sensitivity analysis
• Risk prioritisation and intervention
• The project Risk Register
    

Types of risk

• Occupational Safety & Health risks
• Economic risk
• Political risk
• Social/Community factors
• Financial and currency risks
• Geographic/Environmental factors
• Human Resource factors
• Competitor/market risk
• Technology factors

Risk management models and their use

• Risk management models
• Macro & micro view of the project environment
• The Risk Matrix
      

What's next?

• Action planning
• Additional resources

Learning outcomes

By the end of this program participants will be able to:

• Understand and apply the fundamental steps of an effective risk management methodology
• Identify, analyse and assess risk
• Manage and monitor risk
• Describe different types of risk
• Understand risk management models and their appropriate use
• Develop a Risk Management Plan.

Prerequisite

This program requires no previous experience or training.

Course duration

One day