Risk Assessment Workshop Overview

In this two-day Risk Assessment Workshop, project leaders develop master skills in risk assessment. The seven steps for managing risks are covered in detail. Participants learn to assess risks in a participatory environment. They learn to quantify and document the risks and countermeasures. Risk monitoring is covered in depth as well as how to capture lessons learned from the risk process.

The intermediate level risk assessment workshop teaches the participant to identify potential risks, analyze and quantify the risks, determine the risk response, create a contingency reserve, create and monitor risk metrics and much more. Participants will learn the tools they need to minimize risk in any project. They will practice what they learn using a case study exercise or they can substitute their own project for the case study and practice the methodology on their own project.

The risk method taught in this course is consistent with PMI’s PMBOK® 2000 – the Project Management Body of Knowledge – and it provides a firm foundation for preparing for the PMP exam. Preventing and managing risk are key elements of any project management system. The Martin Training Associate’s approach to risk is simple to learn, easy-to-apply and can be used by teams or by individuals.

Target Workshop Audience

Project leaders who already have core skills, and wish to enhance their project management knowledge in the area of risk and/or are preparing for the PMP® exam.

Length of Workshop

2 Days

The major learning objectives for he workshop include:

• Understand more advanced principles of risk assessment and learn to apply them in a case study or in your own project
• Learn professional level skills for assessing and managing risk
• Learn how to manage the three different types of risk
• Learn how to involve the team and other stakeholders in the risk assessment process
• Learn how to conduct an opportunity assessment

What You Will Learn

The workshop emphasizes many practical techniques, including:

• How to manage risk through the four phases of the project management process
• How to define the risk threshold for a project
• How to create a risk management plan
• How to analyze risks using a team-based approach
• How to develop a risk response plan
• How to calculate a contingency reserve
• How to develop risk metrics and monitor risks
• How to close out risk

Detailed Agenda

Introductions

Module 1 - Introduction to Risk

• What is Risk?
• Four PM Phases
• Types of Risk
• Scope Quality Plan

Module 2 - Define Risk Threshold (Step 1)

• What is a Risk Threshold?
• Steps for Defining a Risk Threshold
• Module 2 Discussion Questions

Module 3 - Identify Risks (Step 2)

• What is Risk Identification?
• Steps for Identify Risks
• Exercise: Identify Risks
• Module 3 Discussion Questions

Module 4 - Analyze Risks (Step 3)

• What is Risk Analysis?
• Risk Analysis Steps
• Exercise: Analyze Risks
• Module 4 Discussion Questions
• Review Day One

Module 5 - Respond to Risks (Steps 4 and 5)

• What is a Risk Response?
• Identify Risk Responses
• Exercise: Identify Risk Responses
• Analyze Risk Responses
• Exercise: Analyze Risk Responses
• Module 5 Discussion Questions

Module 6 - Monitor Risks (Step 6)

• What is Risk Monitoring?
• Monitor Risks Steps
• Risk Metrics
• Exercise: Monitor Risks

Module 7 - Schedule and Budget Risk

• Schedule Risk
• Budget Risk
• Exercise: Jeopardy Game

Module 8 - Close Out Risks (Step 7)

• What is Risk Close Out?
• Close Out Risks Steps
• Module 8 Discussion Questions

Module 9 - Assess Opportunities

• Identifying Opportunities
• Assessing Opportunities
• Identifying & Assessing Actions
• Exercise: Opportunity Assessment
• Exercise: Discussion Questions

PDU's

14 Units

Prerequisites

None

Materials Provided

Course Notebook, The Professional's Guide to Risk Assessment - Book