Courses

EFFECTIVE PROJECT RISK MANAGEMENT : BEYOND THE PMBoK®
Presented by Dr David Hillson PMP HonFAPM FIRM, Director, Risk Doctor & Partners

Course Summary

All projects are inherently risky, and zero risk is not an option. The successful project manager will therefore be the one who manages risk effectively. Threats must be minimised and opportunities maximised, while maintaining a clear focus on achievement of objectives. This two-day course takes you through the risk management process in the Guide to the Project Management Body of Knowledge (PMBoK®) Fourth Edition (2008), detailing the techniques needed to make risk management work on your project, drawing on current international best-practice. Additional issues will be discussed, giving an approach which is proactive, pragmatic and action-based, not theoretical or academic. This course will provide proven tools to help the hard-pressed project manager deal effectively with risk.

This course is designed for:

• Everyone involved in any project which is subject to uncertainty
• Project managers who wish to learn how to manage risk effectively on their projects
• Risk practitioners who need to update their skills in line with the current PMBoK®
• Any project stakeholder with an interest in maximising the chances of project success

The main topics covered include:

• A clear explanation of the principles of risk management
• A detailed description of the risk process in the PMBoK® Fourth Edition (2008), expanded to take account of current international best-practice
• Guidance on use of key techniques for identifying risks, performing qualitative and quantitative analysis, planning responses and monitoring & controlling risks
• Examination of behavioural aspects of risk management, identifying and countering bias
• Practical exercises to illustrate key learning points
• A generic case study allowing you to try out the process

This course will help you understand:

• How to recognise risk within your projects, distinguishing risks from their causes and their effects, and exposing both threats and opportunities
• The requirements for a proactive approach to identifying and assessing risk exposure, addressing both threats and opportunities
• How to apply proven techniques for prioritising risks, allowing you to determine the areas requiring particular attention
• How to develop appropriate response strategies to identified risks
• How to ensure effective management of uncertainty and maximise the likelihood of achieving your project objectives
• Your preferred risk psychology, revealing sources of bias and enabling these to be recognised and countered

The course includes a significant proportion of practical exercises (up to 40%), with a worked example case study to allow delegates to practise the process.

Delegates holding the Project Management Professional (PMP®) certification from the Project Management Institute (PMI®) can claim 14 PDUs for completing this course.

Course Leader

Dr David Hillson PMP HonFAPM FIRM FRSA FCMI is internationally recognised as a risk management expert. He is the Director of the specialist risk consultancy Risk Doctor & Partners (www.risk-doctor.com), with over twenty years’ experience in risk management consultancy and training for clients across the globe. David is a popular conference speaker and author on risk, with seven books and many papers on the topic.

David is an active member of the Project Management Institute and was awarded the PMI Distinguished Contribution Award for his work in developing the discipline of risk management. He was a founding member of the PMI Risk Specific Interest Group (SIG) and has been a core author for the risk chapter of the PMBOK® Guide since 1998. He is also a Fellow of the UK Institute of Risk Management (IRM) for whom he developed the original project risk management syllabus, and an Honorary Fellow of the UK Association for Project Management (APM) where he was a core team member for updating the Project Risk Analysis & Management (PRAM) Guide.

David’s motto of "Understand profoundly and explain simply" ensures that his consulting and training blends leading-edge thinking with practical application.

MAIN TOPICS

• Introduction
  Overview and objectives of the course
  Delegate introductions
• Overview
  Definitions of risk
  Types of risk
  Why use risk management
  The risk process
• Plan Risk Management
  Defining the project
  Focusing the risk process
  The Risk Management Plan
• Identify Risks
  How to use key techniques
  Risks, causes & effects
• Risk Exercise 1
• Perform Qualitative Risk Analysis
  Assessing probability and impact
  Risk categorisation
  Recording and reporting risk
• Risk Exercise 2
• Perform Quantitative Risk Analysis
  The role of quantitative analysis
  Monte Carlo simulation
  Developing a risk model
  Understanding outputs
• Plan Risk Responses
  Risk response strategies
  Risk Owners
• Risk Exercise 3
• Monitor & Control Risks
  Risk reviews
  Staying in control
• Behavioural aspects
  Risk attitudes
  Sources of bias
• Personal risk attitude exercise
• Benefits & Implementation
  Benefits of risk management
  Downside of risk management
  Implementation issues
• Course Conclusion