Topics covered in this Course

Risk Management Overview

• Definition of risks
• Risk Breakdown structure (RBS)
• Risk Categories

What You Need Before You Can Do Risk Management

• What do you need before you can effectively start risk management?
• How does risk management fit into the project management process and operations?
•  What risk management is and why can it make or break your career
•  Project risks and operation risks?
•  Negative risks and positive risks (Opportunities)

The Risk Management Processes

• Plan Risk Management
• Identify Risks
• Perform Qualitative Risk Analysis
• Perform Quantitative Risk Analysis
• Plan Risk Responses
•  Monitor and Control Risks

Plan Risk Management Process

• Creating a Risk Management Plan (RMP)
• Analyzing contents of a model RMP
• Applying a standard template to create your RMP
• The Identify Risks Process
• Identifying project risk
• Common sources of project risk
• Creating Ishikawa diagrams to analyze cause and effect relationship
• Checklists
• Developing a Risk Register
• Analyzing contents of a model Risk Register
• Applying a proven template to create your Risk Register
• Documenting risks for future assessments

The Perform Qualitative Risk Analysis Process

• Analyzing risks through qualitative measures
• Performing probability and impact analyses of identified
• Applying the probability and impact matrix
• Advanced applications of qualitative analysis
• Prioritizing analysis results
• Ranking project risks
• Differentiating between acceptable and unacceptable risks

The Perform Quantitative Risk Analysis Process

• Quantifying effects of risk events on the project
• Determining probability of achieving cost and time objectives
• Calculating contingency reserves
• Identifying trends in quantitative analysis
• Ranking risks by actuarial cost
• Tools for analysis
• Expected Monetary Value (EMW)
• Three-point estimates
• Probability distributions
• Delphi Technique
• Simulation

The Plan Risk Responses Process

• Implementing risk response strategies
• Threats: Accept, Avoid, Transfer and Mitigate
• Opportunities: Exploit, Share, Enhance
• Quantifying residual risks and secondary responses
• Creating contingency plans
• Determining the worst case scenario
• Recalculating confidence levels
• Finalizing risk budget

The Monitor And Control Risks Process

• Identifying emerging project risks
• Matching identified project risk with controls including Risk Audit, Variance Reports,
• Reserve Analysis
• Anticipating risk events through risk triggers
• Measuring risk using earned value analysis (EVA)
• Ensuring effective change control
• Developing a reliable change request process

Assessment

• Once you successfully pass the programme(s), you will be able to download a CMIT Digital Certificate of Completion. This can be accessed via the Progress Reports section located on the top right side of your eLearning platform.
• You may optionally take exams to receive certification. Exam fees are not included in the course price. More information on exams can be found on the CMIT exam page.

Technical Requirements

• Broadband internet connection.
• Browser – we recommend Chrome or Safari for Tablet or Apple Mac; and Firefox or Internet Explorer for PC hardware.
• Operating System – PC (Windows 7 or later), Mac or Android.

Accreditation

• You may optionally take exams to receive PMI certification.
• More information can be found on the CMIT Accreditation Details page.