An Intensive 5-day Training Course
Project Risk Management & Compliance
- Format: Classroom
- Duration: 5 days
- Language: English
- Accredited: CPE, KHDA Certified training courses
CLASSROOM DATES
INTRODUCTION
This EuroMaTech's Project Risk Management & Compliance training course will emphasize awareness of project risk management to minimize project cost/schedule overruns & improve project execution.
Project management is all about the management of risks; the ability to seize opportunities, minimize threats and to optimize results. However, risk management is too often treated as a reactive process, or worse, not done at all. In this Project Risk Management & Compliance, you will work through the proactive approach to both sides of risk: threats and opportunities. The approach is based on a clear understanding of both qualitative and quantitative approaches to risk management.
The highlights of this course are:
- Examine both the threats and opportunities facing your projects from both a top-down and bottom-up perspective using a proven six-step risk management process.
- Evaluate and respond to risk at the project as well as the task levels.
- Anticipate possible causes of cost and schedule overruns, together with poor quality of work. By identifying the warning signs to these as early as possible in the project timely corrective action can be taken to minimize or mitigate the impact.
- An issue facing most projects is compliance; with both internal corporate policy and with government regulations. Failure to properly proceed in this area can result in costly schedule and budget problems on a project.
TRAINING OBJECTIVES
This Project Risk Management & Compliance is designed to provide practicing project managers, program managers, technical leaders and owner/sponsors with the skills and knowledge to successfully manage risk throughout the project cycle. As such, delegates will:
- Get an overview of the Risk Management Process
- Learn to identify risks that affect project quality, time & schedule, cost and scope
- Apply useful techniques to identify, analyze, mitigate and monitor risks in the project life cycle
- Learn how to create an effective risk monitoring plan and risk management strategies.
- Use a practical, six-step process to manage project risk
- Develop a risk budget based on expected monetary value (EMV)
TRAINING METHODOLOGY
This Project Risk Management & Compliance training methodology will incorporate both theory and skill training components, utilizing both traditional lectures, as well as hands-on exercises, group discussions and case studies.
TRAINING SUMMARY
- Identify threats and opportunities and weigh their relative value in your project
- Learn how to rank risks based on the amount of exposure to the company
- Develop the skill necessary to quantify risks
- Employ the concept of Expected Monetary Value (EMV) to prioritise the risk mitigation strategy
- Control multiple risks using concise strategies
- Make risk and opportunity integral components of your next project plan
TRAINING OUTLINE
Day 1- Risk Management Framework and Planning Introduction
- Key definitions
- Project risk management goal
- Purpose of risk management
- Benefits of risk management
- Responsibilities in risk management
- Integrating risk management into the project management process
- Components of risk
- Types of risk
Six steps of risk management
- Plan the approach to risk management
- Risk Identification
- Risk Assessment & Quantification
- Risk Response Plan Development
- Risk management plan execution
- Evaluating risk response results
Risk Planning (Step 1)
- Plan the approach to risk management
- Planning inputs, tools & outputs
Day 2 - Risk Identification Processes Risk Identification (Step 2)
- Identification inputs & tools
- Identification guidelines
- Risk identification techniques
- Risk categories
- Risk identification outputs
Review of Cost & Schedule Estimating in Relation to Risk
- Cost estimating classes & types
- Cost estimating methods
- Accuracy, allowances, contingency & management reserve
- Work Breakdown Structures (WBS)
- Schedule diagramming - critical path method (CPM)
- Resource management
- Earned value method (EVM)
- Baselining
Day 3 - Risk Assessment and Quantification Processes (Step 3)
- Risk analysis inputs
- Risk analysis guidelines
- Probability analysis
- Impact analysis
- Risk analysis approaches - qualitative & quantitative
- Risk analysis tools & techniques
- Statistical sums in risk analysis
- Program Evaluation & Revue Technique (PERT)
- Monte Carlo simulation
- Decision trees
- Project risk rating & prioritizing
- Risk analysis outputs
Day 4 - Risk Response Plan Development (Step 4)
- Risk response development inputs, tools & techniques
- Risk response strategy guidelines
- Response strategies for threats
- Response planning & network diagramming
- Response analysis
- Alternative responses
- Reserves - contingency & management
- Response planning outputs
Day 5 - Risk Response Control
- Risk management plan execution (Step 5)
- Risk response control tools
- Risk response control guidelines
- Risk strategy execution
- Evaluating risk response results (Step 6)
- Risk documentation
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ACCREDITATION
EuroMaTech is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit.
Euromatech is a Knowledge & Human Development Authority (KHDA) approved training institute in Dubai, licensed and approved to deliver training courses in the UAE.
The KHDA is the regulatory authority in the UAE, that oversees administering, approving, supervising, and controlling the activities of various education providers in the UAE. We are proud of our commitment to ensuring quality training courses and status as a KHDA-approved training provider.
Taught by our team of highly qualified trainers, our KHDA approved training courses will provide you with an enriching learning experience and practical knowledge that will help you future-proof your career and support professional development within your organisation.
