Risk Management

1. Risk Management Foundations

• Definition of a plan
• Definition of risk and risk management
• Risk management and project success
• Project management life cycle

2. Strategic Risk Reduction

• Project success factors
• Stakeholder analysis
• Balancing constraints within a plan
• Assessing project riskiness
• Importance of formal planning

3. Execution Risk Reduction

• Risk management plan
• Risk identification techniques
• Qualitative risk analysis
• Quantitative risk analysis
• Risk response planning

4. Monitoring and Controlling Risk

• Protecting the plan
• Change controls
• Responding to risks

5. Value of Lessons Learned

• Capturing and employing lessons learned
• Current methods of managing uncertainty based on lessons learned

Hands-On Activities:

• Determine sources of project risk by category
• Assess overall project risk
• Identify and categorize risk
• Perform qualitative risk analysis
• Perform quantitative risk analysis
• Plan risk responses
• Involve stakeholders