COURSE 4870 | 2-DAY SESSION
Hands-On Risk Management

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You’ll spend 60% of your class time on projects in which all facets of the work environment are computer simulated using a powerful “project engine”.

Projects are a huge cost to every organization and research reveals 51% of projects will fail. After resources, the largest cost in all projects are risks. The inability to identify, categorize, accurately assess impact, prevent, and control risks cost businesses billions per year.

This course first identifies project risks, risk categories, and criteria, then presents and explains key definitions. Next, in an interactive "hands on" environment, participants learn tools and techniques for

1. Qualitative and Quantitative Risk Analysis
2. Risk Criteria
3. Risk Response Planning
   
4. Risk Monitoring and Controls
5. how to prepare and test a comprehensive risk management plan to materially reduce and contain risks, thereby reducing costs and program delays.

The Learning Model
The Learning Model features a computerized business project simulation that you will manage yourself. After instructorled discussions, participants work in teams to complete individual and team exercises, working through examples and applying key tools and techniques on realistic problems. Your project team will then use our powerful project simulation engine to apply all techniques learned in class on the simulated project, and make risk focused decisions to advance the project. Get immediate feedback on results testing — find out instantly whether your quantitative and qualitative risk management tools and controls worked. If not, you’ll learn from your results and plan accordingly...gaining valuable experience without ever having to make mistakes on your real projects back on the job.

Application
The Online Toolkit Customized Post-Graduate Process ensures immediate application of tools and techniques back on the job to build an organization-specific Risk Management Plan for improved risk analysis, management and control on every major project thereafter.

Specifically you will:

1. Establish "contingency plans" and other preventive actions, such as risk mitigation
   
2. Monitor risk during project execution and respond, as appropriate (e.g., take corrective action, implement contingency plans, utilize change control, etc.)
   
3. Utilize problem-solving techniques to overcome obstacles
   
4. Update risk management documentation to reflect current conditions, including a re-assessment of risk
   
5. Perform "risk audits" to determine effectiveness of corrective actions and risk management activities
   
6. Use the SWOT exercise (strengths, weaknesses, opportunities and threats) to identify risk processes and techniques
   
7. How the DMAIC process and tool helps manage risk in a Six Sigma world
   
8. Receive a customized online toolkit to ensure immediate success back at the office in building your specific Risk Management plan
   
9. Explore tools and techniques for both qualitative and quantitative risk analysis
   
10. Use a “learn by doing” approach throughout every phase of the risk management development plan — manage a full-scale, simulated 10-week business project as it moves through execution using our powerful real-world “project simulator” engine
    

Who Should Attend:
Project Managers, Functional Managers and Team Leaders who manage cross-functional teams of internal staff and external contractorss working on complex projects in information systems, engineering, operations, research and development, where risks must be managed.