Services
Corporate Skills Development: Managing Risk
Duration: 1 day
Course Overview:
Risk has two elements: Uncertainty (it may or may not happen) and Loss (the potential for unwanted consequences). To effectively deal with the likelihood that a future event will cause some kind of harm to your business, it is necessary to implement an effective Risk Management Strategy. But what might that strategy look like?
A Risk Management Strategy reflects a continuous process that starts during the initiation of a project and proceeds until the project is completed. Not all risks can be known ahead of time, but by identifying potential risks in advance, their impact can be greatly reduced or eliminated entirely.
This one day course teaches a practical, easy-to-use approach to managing the risks associated with a project. The course includes a number of exercises designed to assist the participant in practicing the areas discussed, and provides a collaborative and supportive learning environment where skills can be developed before returning to the workplace.
Target audience:
This workshop is geared towards anyone involved in a project that is subject to uncertainty, Project Managers and Risk Practitioners who wish to extend their skills, Project Stakeholders with an interest in maximizing their chances of project success, and anyone wanting to understand the principles and applications of Risk Management.
Program Topics:
- Project management overview – where does Risk Management fit in?
- Risks versus constraints, knowing the difference and planning for both.
- 7 Common project risks.
- Communicating and negotiating change.
- Methods of managing root causes rather than symptoms.
- Navigating organizational and cultural risks.
- Implementing Risk Management Strategies: avoidance/reduction/retention/transfer.
- Risk classifications: known risks/predictable risks/unpredictable risks.
- 3 phase approach to Risk Management: Identify/Evaluate/Respond.
- The Risk Management glossary – Understanding and using risk management terminology.
At the end of this seminar, participants will be able to:
- Recognize what is and what isn’t under their control.
- Prepare a Risk Management analysis worksheet.
- Analyze probability versus impact of project risks.
- Determine a hierarchy of risk.
- Document a response plan.
- Develop a contingency plan.
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