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Project Risk Management Professional

Course Overview

Our specialized course is tailored for strategic thinkers, it empowers participants to excel in planning, managing, and controlling project risks.

To ensure that participants are able to develop project risk management plans, this course focuses on risk identification, comprehensive qualitative and quantitative analysis, dynamic response planning, it also focuses on utilizing all the critical tools and techniques, to enable you to handle your project leadership skills with confidence.

Who Should Attend

  • Risk managers
  • Risk owners
  • Project managers
  • Members of the project office
  • Project sponsors
  • Functional managers
  • Senior management and individuals interested in project risk management.

Course Objectives

At the end of this course, participants will be able to:

  • Define the basic terms related to risk and establish a solid risk management framework
  • Set up plans for risk management and manage the risk register
  • Identify project risks using different techniques
  • Perform a qualitative risk analysis to determine the overall project risk score
  • Complete a quantitative risk analysis by utilizing techniques such as Monte Carlo simulation and decision tree analysis
  • Develop effective response strategies for positive and negative risks according to their priorities
  • Review and control project risks through reassessments and audits

Course Content

Introduction to Project Risk Management

  • Definitions of risk
  • Pure and business risks
  • Benefits of project risk management
  • Project risk management processes

Risk Management Planning

  • Stakeholder risk appetite
  • Elements of the risk management plan
  • Risk breakdown structure
  • Defining risk probability and impact scales

Identifying Project Risks

  • Brainstorming and Delphi techniques
  • SWOT analysis
  • Work Breakdown Structure (WBS)
  • Risk register

Qualitative Risk Analysis

  • Risk probability and impact assessment
  • Risk ranking within the project
  • Risk urgency assessment
  • Project risk score

Quantitative Risk Analysis

  • Probability distributions
  • Monte Carlo simulation
  • Sensitivity analysis
  • Expected Monetary Value (EMV)
  • Decision tree analysis

Risk Response Strategies

  • Negative risk response strategies (threats)
  • Positive risk response strategies (opportunities)
  • Contingency planning strategy
  • Secondary and residual risks

Implementing Responses and Monitoring Risks 

  • Risk audit
  • Risk reviews
  • Workarounds

Table of Contents

Course Code DU1205 Category
Location: Dubai, UAE
Duration: 5 Days
Language: English
Cost: 15,770 SAR
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