PRMG 0009 - Managing Project Risks
Course Description
Review tools and processes that help mitigate risk and increase quality as companies demand products and services faster and cheaper.
Understanding and managing risks in delivering quality products are key to customer satisfaction.
The PMI Authorized Training Partner logo is a registered mark of the Project Management Institute, Inc.
Course Outline/Topics
Course Outline
1) Get Started
- Workshop objectives and expectations
- Activity: cite examples of successful projects
- Definitions review
2) Plan for Quality
- Brief history of quality in corporate America, Malcolm Baldridge Award, ISO Standards
- Discussion: review processes and tools used in successful projects
- Securing requirements from project stakeholders
- Quality assurance vs. quality control
- Developing a quality management plan
- Activity: create a quality management plan
3) Quality vs. Risks
- Balancing tradeoffs of time/cost/quality
- Project level balancing
- Business case balancing
- Organization level balancing
- Determining risk management strategies
- Risk management strategies
- Quality control checklist for starting projects
- Activity: cite examples of unsatisfactory deliverable or unhappy clients
4) Risk Road Map
- Project risk management overview
- Risk management plan contents review
- The role of project teams in risk and quality management
- The value of Risk Breakdown Structures (RBS)
- Samples of RBS
- Review of tools for identifying risks: fishbone diagrams, mind maps, SWOT analysis
5) Target Project Risks at the Business Case, Project Charter and Project Schedule
- Identify risks at the business case with questionnaire
- Activity: identify risks at business case level – case study
- Identify risks at the project charter level with questionnaire
- Activity: identify risks at the project charter level – case study continued
- Checklist for identifying risks at the project schedule level
- What is a risk register?
6) Stakeholders and Risk Assessment
- Evaluate stakeholder risk sensitivities
- Activity: assess your personal risk tolerance
- Risk bias
- Qualitative risk assessment
- Risk assessment tools: impact & probability worksheet, risk assessment matrix
- Activity: assess risk – case study continued
- Quantitative risk assessment
7) Develop a Risk Register
- Elements of the risk register
- Risk strategies for preventive actions
- Defining risk triggers and thresholds
- Defining reactive actions
- Activity: develop a risk register – case study continued
- What to do with these risks: integrating risk actions into the project schedule
- Activity: reducing risks in the project management plan
- Using the Risk ID Checklist
8) Balancing Quality vs. Risk
- Integrating quality and risk into the project management plan
- Activity: ways to shorten the schedule
- Activity: review key takeaways, course debrief
Benefits and Learning Outcomes
- Align teams around high-risk decisions and buy in of stakeholders
- Minimize uncertainty in risky decisions and avoid project ‘land mines’
- Learn ways to integrate quality and risk management into project work plans
- Practice defining and delivering stakeholder satisfaction
Who Should Attend
- Working professionals – apply tools and templates to advance your career
- Recent college grads – learn how risk management fits into new job requirements
- Career changers – increase your effectiveness in applying concepts and tools of risk management
Testimonials
"What I enjoyed most was the diverse group of students providing a wide range of shared examples and experiences."
-Peter Schoepp
"Thank you so much for the templates and the knowledge shared in this class. I used the risk register in a meeting today and it worked perfectly!
-Susie Hallett, IEWC
Instructors
Partners & Professional Credits
- Project Management Institute 14.0 PDUs