Courses

PROJECT RISK MANAGEMENT : BEST PRACTICE AND BOUNDARIES
Presented by Dr David Hillson PMP FAPM FIRM, Director, Risk Doctor & Partners

Course Summary

Project risk management is recognised as a key contributor to project and business success. Yet the focus to date has been on implementing a process, with tools, techniques and training. While the “Three T’s” are necessary, they are not sufficient for effective risk management. This advanced course covers key topics in current risk management thinking, introducing leading-edge concepts in a practical framework.

The one-day course covers the following main topics :

• Definition of risk, including the current debate on threat & opportunity
• Extending the risk process to include opportunity
• Structuring the risk process using the Risk Breakdown Structure (RBS)
• Critical Success Factors for Effective Risk Management

The course includes a number of exercises to explore the new concepts, as well as a video case study reviewing a real international project to identify key sources of risk and effective responses.

The course is designed for:

• Anyone involved in a project which is subject to uncertainty
• Project managers and risk practitioners who wish to extend their skills to manage risk more effectively
• Any project stakeholder with an interest in maximising the chances of project success

Course Leader

Dr David Hillson PMP FAPM FIRM is internationally recognised as a risk management expert. He is the Director of Risk Doctor & Partners (www.risk-doctor.com). David is a popular conference speaker and author on risk, and has won several awards for his papers. David is an active member of the Project Management Institute and was awarded the 2002 PMI Distinguished Contribution Award. He is also a Fellow of the UK Institute of Risk Management (IRM) and a Fellow of the UK Association for Project Management (APM).

Course Topics

Session 1 : What is risk?

• Basic principles – the origin of risk
• Review of international risk management standards
• Results of global risk practitioner survey
• Conclusions & implications

Session 2 : Extending the risk process to include opportunities

• A typical risk process (PMI PMBoK-2000 Chapter11)
• Seeing with two eyes – identifying threats & opportunities
• Balancing upside & downside – assessment methods
• Appropriate responses – avoid or exploit?
• Making it work in practice

Video case study

• Review a real completed international project
• Identify key risk sources and effective responses
• Develop generic lessons to be learned

Session 3 : Structuring the risk process using the Risk Breakdown Structure

• The need for structure – defining the RBS
• RBS examples – generic and specific
• Benefits of the RBS

Session 4 : Critical Success Factors for Effective Risk Management

• CSF1 – Clear language
• CSF2 – Simple process
• CSF3 – Scaleable infrastructure
• CSF4 – Supportive culture